Demonetisation boosts surplus cash of banks by 275%
Surplus cash with banks, deposits and borrowings retained after lending and investing, surged by 274.6% to a record high of over ₹2.47 lakh crore in the fortnight ended November 11, RBI data stated. The amount includes money that came in post the demonetisation of higher-value currency notes. Notably, the rise in inflows has seen banks cut interest rates on deposits. 