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UK MPs say ₹5 lakh cr in cash missing, ask BoE to find out where it's 'stashed'

The UK Public Accounts Committee says the Bank of England should “get a better handle” on Britain’s currency, after a report showed three-quarters of all UK banknotes in existence are not used in transactions or held as savings. Chair of the Public Accounts Committee and Labour MP Meg Hillier criticised the Bank of England for failing to keep track of the money, declaring that it is “stashed somewhere, but the Bank of England doesn’t know where, who by or what for, and doesn’t seem very curious.”

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