P Chidambaram slams RBI over note ban

RBI to introduce brand new Rs 1000 note: Report

However, in a bid to revive the economy gradually, the central bank under Urjit Patel's governance introduced new Rs 500 and Rs 2,000 notes within days of demonetisation.

The apex banking system in its annual report stated that only 1.3 percent of Rs. 1000 notes didn't return after the Centre's demonetisation exercise. For some categories of people, like NRIs, however, the deadline was June 30.

Senior Congress leader P Chidambaram on Wednesday hit out at the government and the RBI over the demonetisation decision, saying that only one percent of the junked notes had not returned to the central bank and it was a "shame". A collateral damage as a result of rise in printing and other cost was dividend RBI pays to the government. However, the huge gap between the Rs 500 and Rs 2,000 notes is creating trouble for the common man as exchange has become a major trouble. RBI's interest income dropped 10% to Rs 66,051 crore from Rs 73,543 crore in the previous year.

Roughly 89 million of the 6.7 billion Rs 1,000 notes in existence were not deposited following demonetisation and still remain in circulation.

Experts say that what goes for 1000-rupee notes is equally applicable for 500-rupee notes. According to the RBI, 2,56,324 Rs 1,000 notes valued at Rs 25.63 crore were detected during FY17. It has touched Rs 13.10 lakh crore at the end of March 2017. It also issued Rs 2000 notes for the first time.

Читайте также: Moto G5S and Moto G5S Plus Launched in India

He also said that the demonetisation scam not only dented institutional sanctity of the RBI, but also credibility of India overseas and demanded an apology from the prime minister.

"Buoyed by festival demand and a bumper kharif harvest, a renewed pick-up in currency in circulation was beginning to form in Q3 when demonetisation abruptly stifled it".

In 2016-17, the banking regulator who is in charge of printing currency notes has spent Rs 7,965 crore on printing them. "The economists deserve a Nobel Prize", Chidambaram said, sarcastically.

It was not immediately clear just how the Rs 1,000 notes that were called back, failed to either tackle the black money crisis or the fake currency menace, even though both the objectives were offered up by the government as necessary aims of the demonetisation drive.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Related News:

  • Colts cornerback Vontae Davis out with

    Colts cornerback Vontae Davis out with "pretty significant" groin injury

    The addition of Davis to the injury list is yet another complication with cut-downs looming Saturday. Davis has had a history with lower-body injuries and could miss even more time with the injury.
    Lynn issues West Nile Virus

    Lynn issues West Nile Virus

    It's the third positive finding in the county after a mosquito pool in Petrolia and a dead crow in Sarnia tested positive in July. Defend yourself by using insect repellent that contains DEET, Picaridin, or Oil of Lemon Eucalyptus when outdoors.
    Pakistan Suspends Talks with U.S.  after Trump's Allegations

    Pakistan Suspends Talks with U.S. after Trump's Allegations

    Despite the hostile rhetoric, there were signs that U.S. -Pakistan relations are far from collapsing. Since 2001, the US government has attempted to apply a double-edged strategy with Pakistan.
  • Eminem goes off on Donald Trump at United Kingdom concerts: 'F

    Eminem goes off on Donald Trump at United Kingdom concerts: 'F

    Eminem also appeared on rapper Big Sean's " No Favors " and took Trump to task over racism in America and police brutality. Eminem also wore a shirt that read " Fack Trump " during a show in Glasgow, Scotland on August 24.
    Three Edison Firefighters Deployed To Aid Texas Storm Victims

    Three Edison Firefighters Deployed To Aid Texas Storm Victims

    People walk dogs through flooded streets as the effects of Hurricane Harvey are seen Sunday in Galveston. Typically they hit land and move on. "The water has to subside so we can do more rescues", Ventura said.
    Dell's $350 Visor Is A VR Headset You Can Flip Off

    Dell's $350 Visor Is A VR Headset You Can Flip Off

    Dell has made a play for the burgeoning VR headset market with its new Visor headset and controller combo. What Dell also talked about was a little surprising: virtual reality.
  • Google Maps Will Now Help You Find Parking In Some Cities

    Google Maps Will Now Help You Find Parking In Some Cities

    Paul, New York City, Orlando, Philadelphia, Phoenix, Pittsburgh, Portland, San Diego, Sacramento, San Francisco, Seattle, St. These difficulty icons will allow users to see how hard it might be to park in certain places.
    Bawana bypoll: Its candidate 3rd, Cong finds solace in vote

    Bawana bypoll: Its candidate 3rd, Cong finds solace in vote

    On the other side BJP who was struggling to be the second choice finally managed to finish as runner-up in the Bawana By election. The shift in favour of the Congress no doubt came from the "minorities" vote that had backed Parrikar so convincingly in 2012.
    Veeam takes Availability Suite to new VMware Cloud on AWS

    Veeam takes Availability Suite to new VMware Cloud on AWS

    The service uses VMWare's compute, storage and network virtualization products and vCenter for management. VMware Cloud for AWS essentially takes the VMware environment and moves it into the public AWS cloud.
  • U.S.  strikes ISIS militants heading toward evacuees

    U.S. strikes ISIS militants heading toward evacuees

    State news agency SANA said 10 people were killed and 28 wounded when the vehicles they were traveling in drove over mines. The coalition nevertheless said in a statement that it is not bound by the evacuation agreement.
    Nintendo Japan Plans To Shut Down Miiverse In November

    Nintendo Japan Plans To Shut Down Miiverse In November

    I for one used Miiverse as a way to take screen shots from my game to share not only on Miiverse but also on other social media. There is now no word on what online functionality for the 3DS systems will look like moving forward, but we'll keep you posted.
    FBI Searching for 2 Bank Robbers Disguised as Nuns in Pennsylvania

    FBI Searching for 2 Bank Robbers Disguised as Nuns in Pennsylvania

    According to investigators, one woman then displayed a black handgun and demanded money from a teller. The attempted robbery happened at Citizens Bank on Route 611 near Tannersville just after noon.


Most liked

Mumbai Rains updates: Bad Weather affecting millions might end today
Five more teams of NDRF are enrout to Mumbai as a precautionary measure in addition to Five teams already deployed there. There are fewer people on Mumbai's roads this morning with schools and colleges closed and many staying home.

Johanna Konta crashes out of the US Open in first round
Nevertheless, she had gone into this match having not beaten a top 10 opponent since the 2014 US Open . Asked how she would deal with the defeat, Johanna said: "I think not to catastrophise is important".

Top Trump ally announces Senate run in Pennsylvania
Casey, who has been a senator since 2007 because "Pennsylvania deserves better than an obstructionist senator", Barletta said. The Pennsylvania Democratic Party is kicking off Congressman Lou Barletta's entrance into the race for U.S.

Nick Saban previews Florida State, updates Davis situation
Saturday's contest between two of the last four national champions will be among the most anticipated first-week games in history. Defenses started to figure out Hurts a little late last season and the sting remains from the loss in the title game.

Two lorry drivers charged over deadly road crash in Britain
Masierak, from Evesham, Worcestershire, was remanded in custody by High Wycombe magistrates and will return to court next month. Another colleague, Mano Ranjan Panneerselvam was critically injured in the accident and we are praying for his speedy recovery.

Man charged in Charlottesville beating arrested in Georgia
But before he drove to the Monroe County Sheriff's Office to surrender his freedom, Ramos spoke freely for about 20 minutes. He admitted to CBS46 that "I hit the man one time", and that "before I got there, men beat him with sticks and shields.

Netflix debuts 'Jerry Before Seinfeld' trailer
The special pays tribute to every laugh he lifted from the amusing men who pushed him on that stage. Jerry Seinfeld's feeling nostalgic for the days before he met George, Elaine and Kramer.

Latest on system churning along NC coast
Two to four inches of rain is possible in the southern Delmarva and, at the coast, winds may gust over tropical-storm force. The tropical disturbance, originally dubbed 92L, has been pestering Florida with downpours for almost a week.

Augmented Reality Apps Will Change the Way You Use Your Phone
A preview release of Google's ARcore SDK is available now, but it presently works on only three devices. Google wants to make it easy for Android apps to feature augmented reality technology.

Hurricane Harvey evacuees arrive in Dallas
The White House said President Donald Trump would visit Texas on Tuesday, accompanied by first lady Melania Trump. Outside the Walnut Hill Recreation Center in North Dallas, Bishop Edward Burns prayed with Gulf Coast evacuees.

Lynch to miss early part of season with shoulder bruise
While it would be exciting to see Taylor take some snaps, this is obviously not the long-term plan. X-rays after the game revealed no broken bones and Joseph labeled the injury "minor" at the time.

SEA Games: Singapore capture historic Twenty20 cricket gold
Malaysia's polo team, which features the country's sports minister, also won gold. The games, which is being held in Kuala Lumpur , will end on Wednesday.

Volunteers step in as rescuers for Hurricane Harvey victims
Lincoln went on to tell CNN that helping Harvey victims in Houston was a personal way of paying it forward. Joshua Lincoln said as soon as he heard about Houston , he had to leave work and help.

UK House Price Growth Slows More Than Expected
People are being forced to pay more and some markets are struggling because of it simply because it now costs too much to move. Nationwide said that the pattern was "consistent with signs of cooling in the housing market and the wider economy".

Stetson football player dies after collapsing at practice
He holds BFA from the University of Florida/New World School of the Arts and is also a NY city based stand-up comedian. Stetson University sophomore defensive back Nicholas Blakely collapsed and died during practice on Monday evening.