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Demonetisation: A never seen before massive step, says Jaitley

New Delhi: Union Finance Minister Arun Jaitley on Friday hailed the decision of demonetisation and said that no nation on the entire globe has ever taken such a bold step involving currency swap.

Finance Minister Arun Jaitley
Finance Minister Arun Jaitley

While addressing the foundation day function of Security Printing Minting Corporation of India Ltd. (SPMCIL) Jaitley hailed the endeavours of the Reserve Bank of India (RBI) and Printing Minting Corporation and congratulated them for successfully carrying out demonetisation.

“The way we brought a change in our currency, I don’t think in the whole world ever such a bold and huge step has been taken by any nation in connection with currency swap,” said Jaitley.

“I would like to congratulate the RBI and you people who efficiently helped to carry out the process of demonetisation successfully. “If ever a research is done on demonetisation, a chapter would talk about printing speed, also keeping secretive printing done in advance,” he added.

Earlier this week, Jaitley termed the purpose of demonetisation as a step which led to “larger and cleaner GDP”.



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