Demonitisation a big success: Ex-RBI official

Guntur: Former deputy governor of Reserve Bank of India (RBI), Rama Subrahmaniam Gandhi said that the RBI has successfully implemented demonetisation programme taking the future of the country into consideration and recalled that Zibabwe and Nigerian economies collapsed after demonetisation.

Addressing a meeting held under the aegis of Transcend Skills Institute in Guntur city on Sunday, he said  that most bank accounts were linked to Aadhaar for bringing transparency in banking transactions.

After demonetisation, non-banking finance companies were developed and their business increased manifold, he added. Gandhi said the Centre was printing new currency notes with domestic technology and encouraging cashless transactions for transparency. ANU Prof Abdul Noorbasha and RBI former official K Sudhakar were present.