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Thursday, July 19, 2018

Demonetisation: Make public minutes of RBI meet, cabinet note, says Chidambaram

Chidambaram said that the policy of demonetisation has been a case of total mismanagement, administrative collapse and widespread corruption.

By: Express Web Desk | New Delhi | Updated: December 30, 2016 5:40:05 pm
demonetisation, note ban, currency ban, gst, p chidambaram, black money ban, congress, demonetisation problems, indian express news, mumbai news, india news Former Union Finance Minister P Chidambaram PTI Photo

In a press statement, senior Congress leader P Chidambaram on Friday, taunted that as per PM Narendra Modi’s announcement the woes of demonetisation will come to an end on December 30. Taking a dig at the PM he said that Modi had declared, “Through the note ban, in one stroke, we destroyed the world of terrorism, drug mafia, human trafficking and underworld.”

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Accusing the ruling government of inflicting hardship on the people Chidambaram said that the policy of demonetisation has been a case of total mismanagement, administrative collapse and widespread corruption. He said, “I had also cautioned that the test of demonetisation lies in the manner in which it will be implemented. It is now abundantly clear that the whole exercise was undertaken without forethought and planning; without consulting key officials; without understanding the crucial role of money in circulation; and without assessing the capacity of the currency printing presses to supply new notes. Besides, the seizure of bundles of new Rs 2000 notes is clear evidence of corruption at the level of the RBI, the currency chests and the bank branches. Altogether, the whole exercise has been a case of total mismanagement, administrative collapse and widespread corruption.”

He said that the government and RBI should make public the agenda note and the minutes of the meeting of the Board of Directors of RBI  held on November 8. He also asked for making public the note for Cabinet on demonetisation placed before the Cabinet on November 8.

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