Government-run Security Printing and Minting Corporation of India also prints currency notes among other government documents.

Modi government has come under opposition fire for the manner in which the withdrawal of Rs 500 and Rs 1,000 notes has been handled.

This time most of the newly demonetised currency notes will reach the yards of Western India Plywood (WIPL) on the banks of Valapattanam river in Kannur, Kerala, for pulping.

People wary of spending and money is not getting circulated, say bank officials

The charge that DeMo has triggered the growth slide hasn’t been proved. However, improved tax compliance is a huge plus

While the lack of new Rs 500 notes was very acute, bankers said currency supplies had improved from last week but not enough to meet customer requirements.

Usually farmers raise informal credit from aarthiyaas to tackle the delay in crop remuneration. Now even aarthiyas are short.

In an economy where 98 percent of consumer payments are in cash, banks are functioning with about half the amount of currency they need.

Along with wedding parties, also wailing are vendors who make the big fat wedding possible. People are renegotiating rates and even rescheduling dates.

Demonetisations trail of devastation — on farmers, workers, small shopkeepers, low-income households and businesses — is yet to ease.

Impacted by fall in big-ticket buys after note ban, said bankers.

Authorities will be able to trace the source as to where these notes were generated, he said, adding that Income Tax, Enforcement Directorate.

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It said the withdrawal of bank notes, accounting for 86 per cent of the value of currency in circulation

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Some officials argued that the piles of cash the PM spoke of would be “extinguished,” representing a transfer from black money hoarders to RBI's balance sheet.

Cash disbursement to the public could touch Rs 9L cr by the second week of January. This would be more than 50% of the amount withdrawn from the system.

Rajesh Dahiya, executive director at Axis Bank, too, has visited dozens of branches, speaking to customers and trying to design action plans at branches.