The RBI played an “admirable role” in bringing “incredible” stability to the rupee in the face of demonetisation and global upheavals like Brexit and the US elections, NITI Aayog Vice Chairman Arvind Panagariya has said. “Those who have been critical of demonetisation don’t understand what a gigantic task it was to remonetise the economy,” Panagariya said at a lecture on ‘Economic Policy and Performance in India Under PM Modi’ hosted by the Deepak and Neera Raj Center on Indian Economic Policies at Columbia University.
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