The politician raised doubts over whether the government informed RBI officials before announcing the major economic decision.
In an interview to CNN-News 18, Chidambaram said, "We want to know whether RBI officials were told that demonetisation had to be done. If they were told, did they question? We need to know all this. Did the RBI directors know about the enormity of the decision, I doubt if they knew about this,"
"Merely by demonetisation one cannot get rid of black money," Chidambaram said.
"There is no way out of this crisis and we have to bear the consequences...The Government is making kneejerk reactions, rather than thinking through about the impact," he added.