RBI’s silence on demonetisation raises questions on its independence

It has been 13 days since Rs 500 and Rs 1,000 notes were demonetised. Since November 8, when Prime Minister Narendra Modi announced the policy in a late evening television address, millions have lost precious work hours to queue up at banks to exchange their old notes. Workers have been plunged into distress as wage payments have been delayed, states are bracing for a drop in food production as farmers are unable to access crop loans and the supply of commodities in rural markets has plummeted.

The post RBI’s silence on demonetisation raises questions on its independence appeared first on The Sangai Express.

It has been 13 days since Rs 500 and Rs 1,000 notes were demonetised. Since November 8, when Prime Minister Narendra Modi announced the policy in a late evening television address, millions have lost precious work hours to queue up at banks to exchange their old notes. Workers have been plunged into distress as wage payments have been delayed, states are bracing for a drop in food production as farmers are unable to access crop loans and the supply of commodities in rural markets has plummeted.

The post RBI’s silence on demonetisation raises questions on its independence appeared first on The Sangai Express.

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