Reserve Bank of India governor Urjit Patel, who had been largely missing in action since the government banned high-denomination notes that sparked a cash crunch, has finally spoken out. Patel termed demonetisation as a "once-in-a-lifetime event" that requires mammoth logistics. He said the RBI was taking all necessary actions to "ease the genuine pain of citizens who are honest and who have been hurt" and hoped things will normalise at the earliest.

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