NEW DELHI: The RBI has told a parliamentary panel that it has “no information” on how much black money has been extinguished as a result of demonetisation of Rs 500/1,000 notes or about unaccounted cash legitimised through exchange of currency post note ban.
Stating that an estimated Rs 15,280 crore in junked notes has come back “subject to future corrections based on verification process”, the Reserve Bank also said it has “no information” whether demonetisation is being planned to be implemented at regular intervals.
The RBI has been facing flak from the opposition parties for demonetisation and delay in disclosing figures on the junked notes, even as the Government has maintained that the November 8, 2016 decision to ban Rs 500/1,000 notes in circulation at that time has helped in curbing black money, among other benefits.
Replying to queries from the panel, the RBI said the verification for authenticity and numerical accuracy are still on, while some of the specified bank notes (old Rs 500/1,000 notes) which were accepted by banks and post offices are still lying in currency chests. (AGENCIES)
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