Mamata asks RBI Governor to disclose new notes allocation to states

Expressing "serious concern" over "political discrimination" among states, West Bengal Chief Minister Mamata Banerjee on Thursday wrote to Reserve Bank of India Governor Urjit Patel seeking to know the "nature of allocation of new currency" to each state.

Meanwhile, Patel met Banerjee and state government officials at the state secretariat Nabanna after the apex bank's central board meet here.

In her letter, Banerjee wrote: "We would like to know from you the nature of allocation of new currency to each of the states in a spirit of transparency and accountability, since there are serious concerns of political discrimination amongst states.

"As the Governor of the Reserve Bank of India, ... we expect you to stand up against this demonetisation onslaught against the common people of the nation at this moment of crisis, rather than falling silent and remaining opaque."

Banerjee also said that the country has been going through an unprecedented misery and suffering due to "cruel misadventure of demonetisation" which has not been seen in any modern democracy.

She also mentioned in the letter that already five crores of workers across the country and across the sectors were facing unemployment and hunger, and the unorganised sector, which provides two-third jobs in country has literally collapsed.

"The small and medium enterprises are shutting down shops in lakhs. The massive trading sector of the economy has been brought down to its knees due to cash crunch, unable to conduct its business. The farmers of our nation are going through a trauma never seen before and that too not due to natural calamity but due to a man-made disaster of massive demonetisation," said Banerjee.

She said even middle and larger industries have cut down on their production by at least 50 per cent.

Banerjee has been criticising RBI on the way demonetisation of high-value currency notes is being implemented. She also criticised Patel's 'silence' on the issue.

She also urged the Centre and RBI to "extend a helping hand to tea garden workers", who she alleged were "dying" in the aftermath of demonetisation.

The letter also said that the Governor was aware that the economy was getting derailed and GDP growth rates were being revised downwards every day.

--IANS

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