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No Windfall For Government From Undeposited Old Notes, Says RBI Chief Urjit Patel
Dr Patel said banned notes still carry the liability of RBI He debunked speculation the government will get special dividend Economists said RBI could keep the money in special reserve
08 Dec 2016, 06:53 PM IST 
Urjit Patel said decision to remove old bank notes from the system was not taken in haste.
Urjit Patel, Reserve Bank of India Governor, on Wednesday debunked speculation that the central bank will pay a big dividend to the government in terms of old notes that are not deposited into the banking system.
The speculation has been based on the premise that the RBI's liability from notes that do not return to the banking system will be extinguished. And that it could transfer the benefit from that to the government.
Dr Patel ...
