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RBI accepted govt’s demonetisation proposal because of fake notes menace - Tv9

Sat, Apr 29, 2017, 03:23 PM
RBI accepted govt’s demonetisation proposal because of fake notes menace but not black money. Reserve Bank revealed that govt has told the reason of fake notes behind demonetisation. Experts say that demonetisation is not required for removing fake notes from circulation, those big notes can be taken back in the form of deposits by giving certain time. Kolkata's Financial Statistical Organization says Rs 70 crore fake notes come into country every year. With the failure of demonetization Modi government diverted people on to digitalisation and released Bheem App. Opposition leaders are getting ready to use this as weapon in 2019 elections.
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