There was absolutely no reason to disrupt the economy by declaring, in a near-midnight strike, that high-value currency notes would no longer be legal tender. There was absolutely no reason to disrupt the economy by declaring, in a near-midnight strike, that high-value currency notes would no longer be legal tender. I am proud to count among my teachers Dr Manmohan Singh, Dr C Rangarajan, Mr Montek Singh Ahluwalia, Dr Venugopal Reddy, Dr Bimal Jalan, Dr Parthasarathy Shome, Dr Saumitra Chowdhury, Dr Jahangir Aziz, Dr Raghuram Rajan and many young economists. There was absolutely no reason to disrupt the economy by declaring, in a near-midnight strike, that high-value currency notes would no longer be legal tender. One day the RBI must disclose the volume/value of the demonetised currency notes that were returned to the RBI.

Source: Indian Express June 03, 2017 19:40 UTC