For the first time, the Reserve Bank of India has not released its balance sheet for the week that ended on June 30, The Economic Times reported on Monday. June 30 is when the RBI officially closes its accounting year.
This comes after the top bank claimed that demonetisation numbers are not yet ready since they have not finished counting the notes that were submitted. “The currency in circulation is a major liability on the central bank’s balance sheet,” said an economist who did not want to be named. “They are mandated to be put in public domain as these [the central bank’s accounts] are part of the public account. The RBI finalises its accounts by July-end and releases it to the government in August.”
RBI Governor Urjit Patel on July 12 told a Parliamentary panel that the bank was still counting the currency deposited after Rs 500 and Rs 1,000 notes were scrapped in November 2016. He said there was no final figure on how much currency had been deposited with the bank. He told the panel that the RBI has been using several counting machines to quickly finish calculating how much money had been submitted, and that the bank was planning to rent more such machines.