NITI Aayog vice-chairman Arvind Panagariya said that demonetisation is being followed up by measures like digitisation of transactions. Photo: Pradeep Gaur/MintNew York: The Reserve Bank of India (RBI) played an “admirable role” in bringing “incredible” stability to the rupee in the face of demonetisation and global upheavals like Brexit and the US elections, NITI Aayog vice- chairman Arvind Panagariya has said. “But the rupee remained incredibly stable and the credit for it goes to the Reserve Bank of India (RBI). He further said that few people criticising the demonetisation policy had said that only six per cent of the money was black money. If it was all white then what was the need for the massive transactions that happened where old currency was exchanged at a discount,” he said.

Source: Mint February 07, 2017 09:55 UTC