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RBI Governor Urjit Patel speaks over demonetisation

Samarth Srivastava

Samarth SrivastavaBy Samarth Srivastava

Published on 27 Nov 2016 2:20 PM GMT

RBI Governor Urjit Patel speaks over demonetisation
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New Delhi: Reserve Bank of India (RBI) Governor Urjit Patel on Sunday finally broke his silence over demonetisation saying RBI is making every possible effort to curb the pains of common people aroused owing to the scrapping of Rs. 500 and Rs. 1,000 notes. It was Urjit’s first statement since demonetisation.

“RBI is taking all necessary actions to ease the genuine pain of citizens who are honest and who have been hurt,” said Patel.

Putting stress over using cash alternatives like debit cards, Urjit Patel said banks are working hard and assured people about the complete availability of the cash.

What else Urjit Patel said?

  • We are working to normalise the condition.
  • People have asked why the new currency introduced was different in size and thickness from the old.
  • This is because the new currency has been designed to make it hard to bogus.
  • When you are going to make a change of this magnitude, you need to get the best standards in place.
  • Also, about 40-50,000 people were deployed to refit the ATMs.
  • The staff members of all banks have worked very hard, and we all owe them our gratitude.

Also read: Its ‘Bhrashtachar Bandh’ vs ‘Bharat Bandh’, says PM Modi

Samarth Srivastava

Samarth Srivastava

Employed as sub-editor at newstrack.com. A learner, who loves covering sports, entertainment and defence kind of stuff.

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