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Chidambaram slams RBI Governor on notes-counting machines

IANS  |  New Delhi 

Senior leader and former Union Minister P. Chidambaram on Thursday took a dig at RBI Governor Urjit Patel over his reported remarks that the central will procure more machines to count demonetised notes.

"RBI buying note counting machines eight months after demonetisation! Has the RBI not heard of 'leasing'," Chidambaram tweeted.

Eight months after demonetisation (November 8, 2016), Reserve of India Governor Urjit Patel refused to give the total amount of junked notes deposited with various banks, saying they are still being counted.

Patel is learnt to have told a meeting of Parliamentary Standing Committee on that the process of counting junked notes was still on and the central has to verify fake notes for which specialised machines are being procured.

While some machines have been procured, tenders have been floated to procure more, Patel was quoted by sources as having told the committee.

Patel said the total money in circulation in the country now was Rs 15.4 lakh crore against Rs 17.7 lakh crore at the time of demonetisation, according to sources.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 13 2017. 19:44 IST
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