Why is the RBI refusing to give reasons for demonetisation?

December 30 is the last day of the 50 days sought by the Prime Minister Narendra Modi for demonetisation means last day to deposit the old banned currency and despite the convenience faced and are being faced by the people of India, RBI feels that the reasons behind this move can not be made public. 

As a response to an RTI, the bankers' bank stated that "The query is in the nature of seeking future date of an event which is not defined as information as per Section 2(f) of the RTI Act." 

Citing Section 8(1)(a) of the Right to Information Act, RBI refused to give the reasons behind this move that made 86% currency in circulation invalid. 

This section reads 'Information, disclosure of which would prejudicially affect the sovereignty and integrity of India, the security, strategic, scientific or economic interests of the State, relation with foreign State or lead to incitement of an offence.'

Also READ: Demonetisation: New rule every day, can someone explain what is happening?

Now, RBI also refused to explain how this exemption clause is applicable to the demonetisation scenario as it is already implemented all across the nation. 

Former Central Information Commissioner Shailesh Gandhi said that law requires the public authority to give reasons for rejecting any information under the Section 8(1)(a)  of RTI and also that "The clause of public interest would apply where exemption clause applies to the information sought by an applicant. In the present case, the information sought does not attract any exemption clause." 

The former commissioner also criticised RBI for creating its own inhouse 'disclosure policy' for being against the spirit of the RTI Act and has filed a complained against RBI regarding the same. 

• Demonetisation
• Demonetization
• Currency ban
• RBI
• Reserve bank of India