How demonetisation impacted the Indian economy
The negative impact of demonetisation was felt in all segments, especially in farm and industry
Mumbai: Reserve Bank of India’s (RBI’s) confirmation that most demonetised notes were returned to the central bank finally confirms the long-held suspicion that the unilateral executive decision to ban specified notes not only failed in its stated objective of flushing out hidden wealth but also ended up causing some damage to the economy. The RBI annual report for 2017-18, released on Wednesday, shows that almost all the banned banknotes, or 99.3% of the notes withdrawn, were returned to the central bank.
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