Demonetization wont serve any purpose: Former RBI Deputy Governor
Posted on: 21/Nov/2016 11:40:02 AM
Former Reserve Bank Deputy Governor KC Chakrabarty has slammed the government�s demonetization exercise. He has mentioned that it won�t serve any purpose and there�s no benefit to the economy. He added demonetization exercise will lead to chaos in the next six months unless there is efficient replacement of currency notes.
According to Chakrabarty, who was the Deputy Governor from 2009 to 2014, nowhere in the world demonetization has stopped counterfeit notes.
