One-time withdrawal of high-value notes is a blunt measure: K C Chakrabarty

Interview with former RBI deputy governor

It is 60 days and counting since the demonetisation of Rs 500 and Rs 1,000 notes was announced by Prime Minister Narendra Modi on November 8. During this period, the Reserve Bank of India’s (RBI) role and certain flip-flops have been questioned. K C CHAKRABARTY, former Reserve Bank of India (RBI) deputy governor, tells Joydeep Ghosh that the focus of the apex bank should have been on keeping more Rs 500 notes in circulation as Rs 2,000 were rendered completely useless for millions of transactions that take place every day. Edited excerpts:

There were reports suggesting that the government