Consultations on note ban began in Feb 2016, says FM Jaitley
A series of consultations were held between the government and the top Reserve Bank of India functionaries on demonetisation in February last year, Finance Minister Arun Jaitley said on Tuesday. The RBI in May, as a part of these consultations, had taken the decision regarding high denomination currency, which was required to be printed as a replacement currency, he added.