Shame on RBI: Which ‘Recommended’ Demonetisation: P Chidambaram

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Former Finance Minister and Congress Leader P. Chidambaram

Former Indian Finance Minister and Congress leader P Chidambaram, twitted Rs 16000 cr out of demonetised notes of Rs 1544,000 cr did not come back to RBI. That is 1%. Shame on RBI which ‘recommended’ demonetisation.

Demonetisation

The Indian Government announced the demonetisation of all ₹500 and ₹1,000 notes of the Mahatma Gandhi Series on November 8, 2016. Indian Prime Minister Narendra Modi said our intended to remove black money.

Chidambaram said demonetisation a scheme designed to convert black money into white?

READ: 99% Of Demonetisation Rs 500 and Rs 1000 Notes Returned: RBI

Today Reserve Bank India Anual report, It’s confirmed Rs 500 and Rs 1000 notes that were demonetised Rs 15.28 lakh crore had been received as of June 30, 2017. When demonetisation was announced, the currency in circulation stood at Rs 17.97 lakh crore. 86 percent of this, or Rs 15.45 lakh crore, was rendered invalid by demonetisation.