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Who warned Centre about Note Ban failure?
By: Tupaki Desk | 3 Sept 2017 10:26 PM IST
Former Reserve Bank of India (RBI) Governor Raghuram Rajan disclosed he had indeed cautioned Union Government about the aftereffects of unplanned Demonetisation.
In the recent interview, Mr.Rajan claimed he had proposed alternative moves to root out shadow money in the country. He made it clear nobody can say Note Ban is a success at this point of time.
In his book 'I Do What I Do: On Reforms Rhetoric and Resolve' scheduled to release soon, Raghuram Rajan disclosed that he first shared his thoughts about Demonetisation to Centre in February 2016. Later, He had written to Government the necessary time required to plan Note Ban properly if it doesn't want to withdraw the decision.
PM Modi scrapped 86 percent of existing currency in the country on November 8th last year. He introduced new Rs 2000 and Rs 500 notes to replace them. Recently, Rs 200 notes have been released to ease currency circulation.
In the recent interview, Mr.Rajan claimed he had proposed alternative moves to root out shadow money in the country. He made it clear nobody can say Note Ban is a success at this point of time.
In his book 'I Do What I Do: On Reforms Rhetoric and Resolve' scheduled to release soon, Raghuram Rajan disclosed that he first shared his thoughts about Demonetisation to Centre in February 2016. Later, He had written to Government the necessary time required to plan Note Ban properly if it doesn't want to withdraw the decision.
PM Modi scrapped 86 percent of existing currency in the country on November 8th last year. He introduced new Rs 2000 and Rs 500 notes to replace them. Recently, Rs 200 notes have been released to ease currency circulation.