A reply to an RTI query has revealed that the board of RBI had met PM Narendra Modi just two-and-a-half hours before the announcement of the demonetization decision. The board, which included the present governor Shaktikanta Das as a director, had warned the prime minister of short-term negative impact of demonetisation on Indian economy and said that the unprecedented move will not have any material impact on tackling black money. The then RBi governor Urjit Patel and the then economic affairs secretary Shaktikanta Das were present in the crucial board meeting which approved the government's request for demonetisation.
The RBI in reply to an RTI query said it has no data on the old 500 and 1,000 rupee notes used for payment of utility bills during the demonetization period. The government had announced demonetization of old Rs 500 and 1,000 notes on November 8, 2016. However it had allowed the demonetized currency for payment of utility bills for 23 services including railway ticketing, airline ticketing at airports, petrol pumps, metro rail tickets, purchase of medicines, LPG gas cylinders, and electricity and water bills.