RBI gave thumbs-up to design of Rs 500,Rs 2000 notes in May

January 24, 2017 22:13

The design of new banknotes of Rs 500 and Rs 2000 denominations was approved at the May 19, 2016 meeting of the Central Board of RBI, an RTI query has revealed.

In his application, Mumbai-based activist Jeetendra Ghadge had sought the exact date of the approval of the design of new bills.

"The new design of the bank notes was approved by the Central Board of Reserve Bank of India in its meeting held on May 19, 2016," the Central Public Information Officer of RBI stated in the response.

RBI cited section 8(1)(a) of RTI Act to refuse information to Ghadge who had sought to know exact date of the first meeting held at the apex bank with the agenda to print new currency notes of Rs 500 and Rs 2000 denominations, and the exact date for the order allowing their printing.

Ghadge today said the RBI and its Governor need to come clean on the entire processes of demonetisation "so that responsibility could be fixed and the common people's trust is maintained."

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