RBI Governor Addresses Economic Growth and Currency Concerns in Parliamentary Briefing

In a detailed briefing to the Parliamentary Standing Committee on Finance, RBI Governor Sanjay Malhotra shared insights on India's economic trajectory, addressing the status of Rs 2000 currency notes. Though no longer in active circulation, these notes remain legal tender, according to the governor, and the RBI has not yet declared them invalid.

Concerns were also raised about counterfeit currency, with one MP highlighting the discovery of 1.12 lakh fake banknotes amidst over six crore genuine notes in circulation. The governor promised rigorous measures to curb such fraudulent activity, reaffirming the commitment of both the RBI and the government to tackle these challenges.

Discussions also ventured into the realm of cryptocurrency, reflecting the committee's broader interest in contemporary financial issues. BJP MP Bhartruhari Mahtab, who chairs the committee, praised the comprehensive dialogue with Governor Malhotra, emphasizing that despite global economic challenges, India's economy is performing robustly. A subsequent meeting focusing on the Insolvency and Bankruptcy Code is slated for later this month.

(With inputs from agencies.)