Alleging that the Reserve Bank of India (RBI) was kept in the dark by the government about its surprise demonetisation move, the Congress said on Saturday the central bank’s governor, Urjit Patel, has sacrificed its autonomy. “Urjit Patel is either guilty of misleading the nation about RBI’s preparedness on demonetisation or has sacrificed the autonomy of the RBI. “RBI is the monetary authority of India and is solely responsible for making bank notes available to all residents of India. The RBI governor has sacrificed the independence of the apex bank and might not have been honest with his views on the entire demonetisation process, he added. Patel was appointed as the RBI governor this September by the Narendra Modi government.

Source: Hindustan Times November 26, 2016 11:13 UTC