Arun Jaitley defends execution of note ban

New Delhi: Finance Minister Arun Jaitley said on Friday replacing 86 per cent of the currency in circulation with new bank notes could not have been executed in a better way than currently being implemented.

“On the execution part, I don’t think this could have been better executed than how it has been executed  now,” he said.

He said replacing such a large currency without any social unrest and any significant  economic disruption was an “achievement”.

“When currency replacement takes place, initial inconvenience takes place, but there is not a single major incident in the country. It's moving smoothly as everyday passes by. The queues are getting smaller,” he said. “In the next 1-2 weeks, we have to make sure currency reaches rural areas because that is where it is required,” he said.