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LATEST NEWS UPDATES | RBI puts up a firewall on Demonetisation -Abhishek Shukla

RBI puts up a firewall on Demonetisation -Abhishek Shukla

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published Published on Dec 31, 2016   modified Modified on Dec 31, 2016
-PTI

While the Government and banks want transparency from citizens, they refuse to be transparent themselves as the RBI again refuses to respond to RTI applications seeking reasons for Demonetisation

Why were Rs. 1,000 and Rs. 500 notes demonetised by the government?

Fifty days after the government announced that these notes would cease to be legal tender, Reserve Bank of India feels that the reasons behind the sudden announcement cannot be made public.

The monetary policy regulator also refused to give any details about the time it will take to replenish the currency notes. "The query is in the nature of seeking future date of an event which is not defined as information as per Section 2(f) of the RTI Act," RBI said in response to an RTI query.

The central bank refused to disclose reasons behind the demonetisation of about Rs 20 lakh crore of currency in the country citing Section 8(1)(a) of the Right to Information Act which states, “Information, disclosure of which would prejudicially affect the sovereignty and integrity of India, the security, strategic, scientific or economic interests of the State, relation with foreign State or lead to incitement of an offence."

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National Herald, 29 December, 2016, http://www.nationalheraldindia.com/news/2016/12/29/reserve-bank-of-india-again-refuses-to-respond-to-rti-applications-seeking-reasons-for-demonetisation


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