Governor of the RBI, Urjit Patel is alive. Nearly 20 days after the denomination day, Patel has came into the light declaring that the Central Bank will make necessary actions to ease the ‘genuine pain of citizens.’
Throughout the last twenty days, there was a general confusion at Patel’s silence after demonetization and later it turned into anguish as he never bothered to face the public. The Governor has not mentioned anything about independent India’s biggest monetary event that came as a shock.
He was conspicuously absent from the scene despite being the newly crowned Governor of the central bank. On the previous day, Union Minister Ravi Shankar Prasad stated that demonetization was done after RBI’s recommendations.
In his first appearance that came as a comfortable interview to the Press Trust of India, Mr Patel revealed that the RBI will take necessary steps to ease the genuine pain of citizens who are ‘honest and who have been hurt.’
Mr Patel assured that monetization process through filling of ATMs and printing of currencies are going smooth. Urging the public to adopt electronic transactions, he remined that there is not enough notes to meet the demand.