RBI refuses answer on note conversion

RBI refuses answer on note conversion
Why was not the conversion of old currency notes allowed till March 31, 2017 for Indians as assured by Prime Minister Narendra Modi in his speech on November 8 announcing demonetisation?

RBI has refused to answer the question under the Right to Information Act claiming the query does not come under the definition of “information” as per the transparency law.

The prime minister in his speech on November 8, 2016, announcing demonetisation, had assured countrymen that they could convert the notes of Rs 1,000 and Rs 500 till March 31. Later, it was decided that the window till March 31 will be kept only for Non-Resident Indians who constitute a major support base for the ruling BJP.

In its response, the RBI refused to share file notings on the decision to limit currency conversion window till March 31 only for NRIs saying it would be against the economic interests of the state.

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