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LATEST NEWS UPDATES | NABARD figures misleading: Gujarat DCCBs collected highest average banned notes -Quaid Najmi

NABARD figures misleading: Gujarat DCCBs collected highest average banned notes -Quaid Najmi

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published Published on Jun 26, 2018   modified Modified on Jun 26, 2018
-National Herald/ IANS

The National Bank for Agiculture & Rural Development (NABARD) had said in a statement on Friday, June 22 that demonetised ?500 and ?1,000 notes presented to district cooperative central banks (DCCBs) in Maharashtra were higher than those deposited in Gujarat, followed by Kerala. This statement, in essence, may be misleading.

According to RTI information secured by Mumbai activist Manoranjan S Roy, Maharashtra's 30 DCCBs (out of total 370) secured deposits of ?3,985 crore worth of banned notes averaging to ?132.83 crore per bank.

But, neighbouring Gujarat's 18 DCCBs were way ahead in average terms in securing deposits of old notes worth ?3,640 crore—or an average of ?202 crore per DCCB.

What is important is the average amount garnered by each DCCB, not the total amount in the state. In average terms, Gujarat tops the list followed by Kerala, Maharashtra, Karnataka and Tamil Nadu, as per the RTI documents released earlier by NABARD.

* Maharashtra's 30 DCCBs secured deposits of ?3,985 crore worth of banned notes averaging to ?132.83 crore per bank
* Gujarat's 18 DCCBs were way ahead, securing deposits of banned notes worth ?3,640 crore—or an average of ?202 crore per DCCB
* Next is Kerala, whose 13 DCCBs got deposits of ?2,094 crore, averaging to ?161 crore per DCCB
* Then follows Karnataka's 20 DCCBs, which got deposits of ?1,849 crore, averaging to ?92 crore per DCCB
* Tamil Nadu's 22 DCCBs collected total deposits of ?1,514 crore, averaging to ?69 crore per DCCB

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National Herald/ IANS, 24 June, 2018, https://www.nationalheraldindia.com/amp/story/india%2Fnabard-figures-misleading-gujarat-dccbs-collected-highest-average-banned-notes?__twitter_impression=true


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