Chidambaram questioned RBI annual report, was demonetisation a scheme designed to convert black money into white ?

Chidambaram
Chidambaram, File Photo

New Delhi, Aug 30: Reacting strongly to the RBI annual report, former finance minister P Chidambaram questioned RBI annual report, was demonetisation a scheme designed to convert black money into white.

Chidambaram said in a tweet,Rs 16000 crore out of demonetised notes of Rs 15,44,000 crore did not returned to RBI. That is 1%. Shame on RBI which ‘recommended’ demonetisation.

However,  RBI ‘gained’ Rs 16000 crore, but ‘lost’ Rs 21000 crore in printing new notes! The economists deserve Nobel Prize99% notes legally exchanged, he stated.

In a series of tweets, former finance minister lashed out at the apex bank after it revealed data on demonetisation of higher currency notes.

The Reserve Bank of India (RBI) today revealed Rs 15.28 lakh crore of the Rs 15.44 lakh crore demonetised currency returned to the financial system post the note ban last November.

The bank also confirmed million pieces of the banned Rs 1,000 totalling Rs 8,900 crore have not been returned, out of 6,700 million notes.

Wefornews Bureau

 

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