How many transactions have occurred since the banknote ban?

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Over 70 Million Transactions Recorded Following Banknote Ban

More than 70 million transactions have been recorded as customers deposited or exchanged old Indian banknotes at banks and ATMs since the government's surprise move to abolish high-denomination notes. This figure represents the volume of activity occurring in the initial days following the announcement, as citizens sought to manage their finances with the newly invalidated currency.
Volume of Deposits and Exchanges

In the period from Wednesday through midday yesterday, a significant number of transactions were processed by the banking system. Customers rushed to deposit or exchange the banned 500-rupee and 1,000-rupee notes. The Ministry of Finance reported that over 2 trillion rupees of these old notes were returned by customers during this timeframe.
State Bank of India's Role

The State Bank of India, the nation's largest lender, played a substantial role in handling these transactions. From Thursday through Saturday afternoon, the bank and its associates processed 543.70 billion rupees in cash transactions, encompassing deposits, withdrawals, and exchanges. These transactions are part of the broader national effort to manage the currency replacement.
ATM Reconfiguration Underway

The government intentionally did not reconfigure the country's more than 200,000 ATMs prior to the announcement to maintain secrecy. These machines are now being recalibrated to dispense new 500 and 2,000 rupee notes, as the existing trays are not compatible with the new denominations. It is anticipated that this reconfiguration will be completed within two weeks.

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How many transactions have occurred since the banknote ban?

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