P Chidambaram ribs RBI for buying note counting machines after 8 months, Mudra scheme

The former finance minister has been critical of the government's demonetisation decision and has said it has hit the country's economy and growth prospects.

By: PTI | New Delhi | Published: July 13, 2017 7:52 pm
demonetisation, P Chidambaram, RBI on old notes, Chidambaram slams RBI, Mudra scheme, Centre Mudra scheme, demonetisation effect on Indian economy, Urjit Patel, Narendra Modi, India unemployment rate Former Finance Minister P Chidambaram (PTI/File)

Senior Congress leader P Chidambaram on Thursday took a dig at the RBI for buying note-counting machines eight months after demonetisation and asked the federal bank if it had heard of “leasing” equipment. “RBI buying note counting machines 8 months after demonetisation! Has RBI not heard of ‘leasing’,” he tweeted.

Chidambaram also poked fun at the NDA’s Mudra scheme, which the government claims has provided self-employment opportunities to over 7 crore people, especially the youth. “‘7.28 crore youth self-employed under MUDRA loan scheme’ — that is title of mythological serial beginning today. Scriptwriters may apply,” he posted on Twitter on Thursday.



The former finance minister has been critical of the government’s demonetisation decision and has said it has hit the country’s economy and growth prospects. RBI Governor Urjit Patel, while appearing before a Parliamentary panel, is understood to have said the deposited banned notes were still being counted and therefore he was not in a position to give a figure on the scrapped currency that was back in the system.

Appearing before the Standing Committee on Finance on Wednesday, Patel did not provide any “specific number” on the amount of money that had been deposited post-demonetisation. Prime Minister Narendra Modi had on November 8 banned 500-rupee and 1000-rupee currency notes.

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  1. Sriram Kalpathi
    Jul 15, 2017 at 11:17 am
    RBI Governor should reveal names of staffs,who are counting the notes. How many staffs are assigned the Himalayan task of counting notes? Do these staffs have no other work excepting counting notes since last several months? What is the ry of these staffs for counting of the notes ? Do they count the notes during day or during night? It will be interesting if RBI reveals the answers to the questions on staffs counting the notes.
    1. Roby Mani
      Jul 13, 2017 at 9:21 pm
      What is this Governor trying to hide? Does he not have the figure deposited by each individual Bank and other organisations which were authorised to collect money from the public and so. Can he not declare this figure with a rider that the figure is subject to changes in case any discrepancy is noticed when counting is completed by Reserve Bank. Why are these jokers trying to make us all fools?