RBI REFUSES TO REPLY TO RTI PLEA ON NOTE BAN DEADLINE

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?

The Reserve Bank of India (RBI) has refused to answer the question under the Right to Information (RTI) 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, had assured countrymen that they could convert the notes of ₹1,000 and ₹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.

The applicant had sought reasons, as “recorded” in the files of the RBI, behind the decision to not allow conversion of currency till March 31 for Indians as assured by the PM. “The question is in the nature of seeking reasons or justification from CPIO which is not defined as information as per Section 2(f) of the RTI Act,” the response form Suman Ray, Central Public Information Officer, said.

CAG TO AUDIT FALLOUT OF DEMONETISATION

The Comptroller and Auditor General of India (CAG) plans to audit the impact of note ban and the affect it has had on government tax revenues, said CAG Shashi Kant Sharma.

He said the auditor is gearing up to audit tax revenues under the new GST regime and has started capacity building and reorienting its audit methodology and procedures.