It's been reported that currency worth Rs 1800 crores is deposited in different banks which means 14 lakh crores is deposited in banks. It is reported that one day before the announcement of demonetization, a contract is given to a plywood company in Kannoor, kerala for the recycling of banned currency into pulp. The above mentioned deposited currency is sent to Kannoor in bundles and the process of recycling has already been started. Company charges Rs 250 for each ton of notes to convert into pulp which is later used by different industries for making things such as files and paper weights. RBI has taken decision to sell pulp at Rs 5 to 6 per kg.
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