One of the nagging questions that are being asked on the demonetisation exercise is: Were there people who knew about it earlier and did they take advantage of the knowledge and cash in on it? There is one way to find out. The Opposition must petition the Supreme Court for the special investigation team (SIT) and also file an RTI petition with the Reserve Bank of India (RBI). This SIT will examine all the currency transfers from the RBI to the currency chests with bank branches in just seven states — Delhi, Uttar Pradesh, Andhra Pradesh, Maharashtra, Gujarat, Madhya Pradesh and Tamil Nadu. Start with the half year, April 2014-September 2014, and find out what the inflow of Rs 500 and Rs 1,000 into RBI was and what the outflow of Rs 100 and Rs 50 was. Do this for the four half years up to March 2016. These four half years will be the sample base. Then check the figures for the half year April 2016-October 2016. Is there an unusual blip in the inflows and outflows in the various denominations? Then a detailed examination for the reason for the blip should be done. Anybody game for this?
T R Ramaswami Mumbai
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