P Chidambaram says ‘2016 note ban showed incompetence of Narendra Modi government’ 

P Chidambaram.

Former union minister P Chidambaram, on Monday, criticized the Centre and asserted that the decision to implement note ban in 2016 without the formal prior approval of the Reserve Bank of India central board only exposed the “incompetence” of the BJP-led government. With the Lok Sabha election around the corner, Chidambaram said the “people will deliver their verdict” as a response to the government’s demonetization move.

The senior Congress leader, in a series of tweets, accused the Centre for overlooking RBI’s warning of short-term negative impacts, and thereby “destroying the livelihood of millions of people”.

Minutes of the RBI Board meeting of 8-11-2016 exposes the incompetence of the government that announced demonetisation.

— P. Chidambaram (@PChidambaram_IN) March 11, 2019

Despite warning by RBI that none of the reasons for demonetisation was justified, government went ahead and destroyed the livelihood of millions of people.

— P. Chidambaram (@PChidambaram_IN) March 11, 2019

Eventually, the poor Governor of RBI paid the price for capitulation and resigned.

— P. Chidambaram (@PChidambaram_IN) March 11, 2019

The authors of demonetisation are still sitting pretty on their thrones. I am sure the people will deliver their verdict.

— P. Chidambaram (@PChidambaram_IN) March 11, 2019

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