Demonetization: RBI refuses to divulge into details of those involved in decision-making process

The Reserve Bank of India (RBI) has refused to furbish details about the officials that were involved in finalising demonetization calling the information "sensitive", a report in FirstPost based on a RTI filed by it, said. 

According to the response of the central bank to the RTI received by the publication, RBI said, "The information sought relates to sensitive matters pertaining to discontinuation/ withdrawal of bank notes. The information is exempt from disclosure under section 8(1) of RTI Act, 2005."

Apart from this, the central bank also said that it had no information on the number of illegal bank accounts that were opened since demonetization. According to several reports, black money hoarders either opened new bank accounts to deposit the money or used others' accounts to deposit the money. The RBI said, "the information sought is not available with us."

The government moved to delegalise the Rs 500 and Rs 1000 tenders on November 8, in a bid to eradicate black money from the system. The move has also fuelled cashless and digital transactions, which the government said was another aim of the exercise.