P Chidambaram slams RBI over note ban
"Rs 16000 cr out of demonetised notes of Rs 1544,000 cr did not come back to RBI. That is 1%. Shame on RBI which 'recommended' demonetisation," he tweeted.
Chidambaram tweeted: "RBI 'gained' Rs 16000 crore, but 'lost' Rs 21000 crore in printing new notes! The economists deserve Nobel Prize."
He said :"99% notes legally exchanged! Was demonetisation a scheme designed to convert black money into white?"
The Reserve Bank of India on Wednesday said 8.9 crore pieces of Rs. 1,000 notes have not returned till March 2017.
The bank made the revelation in its annual report.
In March 2016, the bank said 632.6 crore pieces of Rs. 1,000 notes were in circulation.
The Centre on Nov 8 banned Rs. 1000 and old Rs. 500 currency notes.
People were given 50 days deadline till Dec 30 to submit their old currency notes.
However, some other categories of people, like NRIs, were given time till June 30, 2017.
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