HomeEconomicsImplementation of demonetisation follows planning and consultation with the RBI: Centre

Implementation of demonetisation follows planning and consultation with the RBI: Centre

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  • On Wednesday, the Centre hailed demonetisation as a successful move and part of a bigger plan to address the threat of counterfeit money.
  • The Center said that demonetization was a well-considered decision that was made following considerable consultation with the Reserve Bank of India in an affidavit submitted to the Supreme Court (RBI).
  • According to the affidavit, preparations were taken in advance before the note ban was implemented.

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