RBI not to share note ban details

New Delhi, May 10

Six months after the announcement of demonetisation by Prime Minister Narendra Modi, the RBI has declined to share details of the note ban process, saying it would be detrimental to the country’s economic interests.

Replying to an RTI query, the central bank said disclosing such details might impede future economic or fiscal policies of the government.

The Reserve Bank of India (RBI) was asked to provide a copy of the minutes of the meetings held in its office during which the decision to demonetise Rs 500 and Rs 1,000 notes was taken. It was also asked to share a copy of the correspondence made with the Prime Minister’s Office (PMO) and the Finance Ministry on the issue.

“The information sought in the query carries sensitive background information, including opinions, data, studies/surveys etc. made prior to the demonetisation move. Disclosure of such information would detriment economic interest of the country from the viewpoint of the objectives sought to be achieved by such decision,” the RBI said in reply to an RTI application. — PTI