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RBI moving towards remonetisation at fast pace, says Urjit Patel

Patel was confident that like demonetisation, remonetisation too would achieve its objectives

IANS  |  Mumbai 

Urjit Patel, RBI, Urjit
Urjit Patel

Reserve Bank of India (RBI) Governor on Friday said the central bank was moving at a fast pace towards remonetisation, having restored normalcy over a short period as the printing of the currency was going on at full capacity from day one of

"I think that in terms of remonetisation, we are proceeding at a pace that is very quick. Therefore we have managed to bring the situation to normal along most of the dimensions after demonetisation," Patel told CNBC-TV18 in an interview.

"In a way, this was part of the plan that we would be printing the currency notes to full capacity from day one and we would reach a threshold point in this process when things do become more or less normal. So, that is again part of the good work that has been done," he added.

Patel said he was confident that like demonetisation, too would achieve its objectives, criticism or no criticism.

"That has always been the case. What makes news is fairly subjective in this regard," he said.

First Published: Fri, February 17 2017. 18:58 IST