Comments
It is now nearly 8 months since the Government demonetized high denomination currency notes. As on 7 July 17, the newly printed currency in circulation (CIC) has reached 84% of the extinguished one. In addition, cash on hand with banks, a CIC component has now declined to 5.4% of the former (from the peak level of 23.2% in Nov’16).
Even as the economy is now close to complete remonetization, two issues need to be considered: (1) Whether ATMs are now churning out currency as per the customer needs and (2) The tangible benefits from this humongous exercise.
The report has been authored by Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI
Read the complete report here
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.