Desperate Attempt To Shut Out Questions

BY Edit Platter Desk | PUBLISHED: 7 December 2016

The Mumbai based South Asia business and finance correspondent of The Economist, Stanley Pignal, was denied access to the RBI briefing on Monetary policy statement. Interestingly , the RBI decision to deny Mr. Pignal access to RBI Governor , Urjit Patel , press conference, follows a report by the Economist criticising the demonetisation move by the Indian government. In its last issue The Economist –seen as amongst the most prestigious news magazine on political economy –had criticised the demonetisation move as a bad idea, badly executed.

Also read: Demonetisation: India’s Currency Reform Was Botched In Execution

The BBC World Mumbai reporter Sameer Hashmi was also not allowed to attend the RBI Governor press conference. In his tweets Mr. Hashmi has said that the RBI move was unprecedented and “a sad day for transparency” as journalists from reputed international organisations were disallowed from the Governor’s press conference.


The Economist correspondent also took to twitter to express his dismay towards such a decision taken by the RBI officials.

Here’s what he tweeted:

A RBI official told Mr. Pignal that critical reporting by The Economist had nothing to do with their decision to keep him out of the RBI Governor’s press conference. However , the Economist correspondent is not buying this line. Tweeting about the likely reason for him being kept out of the Press Conference Mr. Pignal says ;


Mr. Pignal’s fortunes and proximity vis a vis RBI Governor have swung quite sharply in the last few months .

The RBI decision to disallow journalists from The Economist and the BBC is not just undemocratic but also signals a sense of growing nervousness in the establishment and monetary policy managers as Delhi’s move to demonetize high denomination currency is drawing sharp criticism from international quarters . Credit rating agencies like Moody’s, banks like Credit Suisse and Goldman Sachs and economists of international repute –including some Nobel Prize winners–have all criticized the decision saying it has not just put Indian masses to inconvenience but is also likely to result in job losses and a slow down in the economy.



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Source - Sanjeev Srivastava/Edit Platter Desk