RBI skips disclosing balance sheet for first time

 Mumbai: Days after RBI governor Urjit Patel failed to provide a number to the total value of currency received post note ban, the central bank skipped releasing the balance sheet for the week ended June 30.

This is the first instance of RBI not disclosing figures of notes in circulation for the week ended June 30, the day it closes its official accounting year, reported the Economic Times.

This figure is significant as it would play an important role in estimating the real impact of demonetisation that came into effect in November, 2016.

Circulation is a pivotal part of RBI’s liability. It had skipped disclosing the figure in its previous two weekly supplements as well.

Last week Urjit Patel had met the Parliamentary Standing Committee on Finance and had said the counting of the notes received post demonetisation last year was still on. RBI’s annual report, due in August is expected to shed light on the real impact of the November 8 decision on RBI’s balance sheet.

Prime Minister Narendra Modi had announced the note ban move on November 8, 2016 which invalidated Rs 500 and Rs 1,000 notes in circulation.