The Reserve Bank of India (RBI) had printed a total of 15,78,700 crores of rupees worth of high value till December 8, but out of this Rs. 2,46,300 crores of cash was not released in the market.

State Bank of India (SBI) gave this information on Wednesday. On the basis of the government and RBI data, SBI has given its research paper 'Is the high value of Rs 2,000 rupees kept back?' Said that after the notes ban on last year, the high value notes worth Rs. 2,46,300 crore worth of rupees have not been sent in circulation till December 8 this year.

According to the SBI Ecoflash report, Chief Economic Advisor (CEA) of SBI, Saumya Kanti Ghosh said, "According to information given by the Finance Ministry in the Lok Sabha, the RBI has issued a total of 1695.7 crore notes of 500 rupees and Rs. 365.4 crore notes were print till 8 December. The total value of these notes is 15,787 billion."

According to RBI data, a total of 3,50,100 crore notes of small value were in circulation till March 2017. SBI said, "It means that by December 8, the value of all the high value notes was 13,324 billion rupees. This means that the RBI did not send high-value notes worth 2,463 billion to the market."

"The logical reason for this is that after the notes ban, people were having difficulty in disguising the high value notes, so it is possible that the RBI intentionally stopped printing of notes of Rs 2,000 and started to print small notes and did not send high value notes in circulation."

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