http://economictimes.indiatimes.com/news/economy/finance/rs-9-2-lakh-crore-remonetised-till-date-rbi-governor-urjit-patel-to-parliamentary-panel/articleshow/56645451.cms?from=mdr
House panel criticises RBI governor for inability to answer demonetisation questions By CL Manoj & Gayatri Nayak, ET Bureau | Updated: Jan 19, 2017, 10.57 AM IST NEW DELHI | MUMBAI: Reserve Bank of India Governor Urjit Patel told the parliamentary standing committee on finance that Rs 9.2 lakh crore of new currency has been issued so far, and said he’s confident that cash supply is no longer a problem. But he did not specify a timeline for lifting restrictions on cash withdrawal. Patel said the central bank is yet to estimate how much old currency came back post demonetisation. “The process of arriving at a figure is still on,” the governor told members of Parliament on Wednesday. He assured the House panel that RBI will provide those details at a future date. .... One fact the finance ministry officials stressed while elaborating the reasons for demonetisation was a recommendation to this effect by the Supreme Courtmonitored Special Investigation Team in its report on black money. The SIT report, they said, also suggested moving towards a cashless society to check accumulation of black money. However, when MPs such as Bhartruhari Mahtab, Saugata Roy and Jyotiraditya Scindia sought to know how printing a higher-denomination note (of Rs 2,000) will help fight black money and terror funding, neither the RBI brass nor finance ministry officials could elaborate. When some MPs asked whether, post demonetisation, printing more Rs 2,000 notes instead of ‘ATM-compatible smaller- denomination notes’ was a mistake, the RBI brass again did not specify but said the central bank had increased supply of notes to meet demand. -- Peace Is Doable -- You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send an email to [email protected]. Visit this group at https://groups.google.com/group/greenyouth. For more options, visit https://groups.google.com/d/optout.
