February 7, 2017
Sukhendu Sekhar Roy questions the government on demonetisation in Rajya Sabha
FULL TRANSCRIPT
Sir, as per the provisions of Section 26 of Section 2 of the Reserve Bank of India Act, 1934, the Government, on the recommendation of the central bank, may declare that any currency of any denomination of any series would not be legal tender.
In the light of this provision, my question is, whether the horse was before the cart, that is to say, whether the RBI sent the recommendation on its own, or the RBI was directed by the Government to send the recommendation?
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