10 Pertinent Questions To RBI Governor On Demonetisation

By Questioning his role in demonetisation, the Public Accounts Committee (PAC), headed by KV Thomas (Congress leader) has asked Urjit Patel ...

By Questioning his role in demonetisation, the Public Accounts Committee (PAC), headed by KV Thomas (Congress leader) has asked Urjit Patel  (RBI Governor) a series of 10 questions about demonetisation and has asked him to appear before January 28. Demonetisation was announced on 8th November, 2016 and since then, the RBI has changed several rules for exchange, depositing and withdrawal of currency. The Opposition had deride the government in the Winter Session of Parliament because of persistent change of rules and regulations.

In the first people were allowed to take out only INR 2,000 notes from ATMS, then it was increased to INR 2,500 and has now been further increased to INR 4,500. According to ‘National Media’ Urjit Patel has asked, ‘Why have there been so many flip-flops in RBI regulations over the past two months..? Please give us the name of the RBI officer who came up with the idea to ink people for withdrawal…? Who drafted the notification on marriage related withdrawal…? If it was not the RBI that drafted these but the government, is the RBI now a department of Ministry of Finance..?  The PAC has also demanded to know the precise reason behind the decision of demonetisation of INR 500 and INR 1,000 notes. It has also asked if the RBI agreed to the minister Piyush Goel's statement that the decision of demonetisation of RBI's and the government merely implemented it.  And why the RBI declined to disclose the information under the RTI, citing fatuous reasons such as fear of personal injury..? Why is the RBI not providing information under RTI to queries that come..?  RBI Governor was asked according National Media.