GOI & RBI: Indecent exposure

Double counting possible? Govt asks RBI to recheck deposit data for old notes: Economic affairs secretary says double counting possible;
cash availability to improve in three weeks...
Indecent exposure 

Apropos the story "Govt asks RBI to recheck deposit data for old notes" (Business Standard, December 16), while the content of the report may be factual, the caption sounds mischievous and misleading. On the face of it, the impression one would get is that RBI has reported some final figures on old Rs500 and Rs1000 notes which have been deposited into bank accounts pursuant to their being declared "not legal tender" on November 8, 2016 and the accuracy of the figures reported is being doubted by GOI. As the accounting of such receipts will continue to be a "work in progress" till December 30, 2016 at banks' level and till March 31, 2017 in RBI, the disputes about accuracy should not become a subject for media debate before April 2017. The reluctance of organizations like RBI to issue rejoinders to such damaging observations emanates from the tradition of elegant public behavior and should not be taken undue advantage of. 
M G Warrier, Mumbai


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