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TMC's Dinesh Trivedi Writes to Moily to Adopt DeMo Report on Last Day of Parliamentary Committee

Sources said Dinesh Trivedi in his letter said that RBI’s revelation on returned notes demands an answer as to why the Centre pushed through with the note ban.

News18.com

Updated:August 31, 2018, 3:53 PM IST
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TMC's Dinesh Trivedi Writes to Moily to Adopt DeMo Report on Last Day of Parliamentary Committee
File photo of former Railway minister Dinesh Trivedi.
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New Delhi: With the term of the parliamentary standing committee on finance ending today, member and TMC leader Dinesh Trivedi wrote to chairman Veerappa Moily, demanding adoption of the RBI report that stated 99.30 percent of the demonetised notes came back into bank accounts.

Sources informed News 18 that Trivedi in his letter said that RBI’s revelation on returned notes demands an answer as to why the Centre pushed through with the note ban.

Of the Rs 15.41 lakh crore worth of Rs 500 and Rs 1,000 notes in circulation before November 8, 2016, notes worth Rs 15.31 lakh crore have been returned. The "humungous task of processing and verification of specified bank notes (SBNs) was successfully achieved," it said.

The SBNs received were verified, counted and processed in the sophisticated high-speed currency verification and processing system (CVPS) for accuracy and genuineness and then shredded, it added.

SBNs refer to the demonetised old Rs 500 and Rs 1,000 notes.

RBI said the processing of SBNs has since been completed. "The total SBNs returned from circulation is Rs 15,310.73 billion."

Citing the report as proof, the Congress reiterated its allegations of demonetisation being a “Modi Made Disaster”. “RBI Report again proves that Demonetisation was ‘Modi Made Disaster’ of Epic Proportions! 99.30% of Demonetised Money Returns! PM Modi, in his 2017 Independence Day speech made tall claims of Rs 3 Lakh Cr coming back to the system! Modiji, will you apologise for that Lie now? (sic)” party spokesperson Randeep Singh Surjewala tweeted.

In a series of tweets, former finance minister P Chidambaram said a bulk of the black money might be in Nepal and Bhutan.

AAP leader and Delhi CM Arvind Kejriwal, too, questioned the gigantic exercise and demanded a white paper on the same.
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