Demonetisation will “significantly disrupt economic activity” and lead to weaker growth in near-term, though in the long run it can boost tax revenues and translate into faster fiscal consolidation, Moody’s Investors Service said on Thursday.
In a report titled ‘Indian Credit — Demonetisation Is Beneficial for Indian Government and Banks; Implementation Challenges Will Disrupt Economic Activity’, Moody’s said the move to ban old Rs 500/1000 notes is affecting all sectors of the economy to various extent, with banks being the key beneficiaries.
“Although...
Thursday, 24 November 2016
Tuesday, 8 November 2016
New 500 And 2,000 Rupee Notes
The Reserve Bank of India will issue new notes for Rs. 500 and Rs. 2000. Prime Minister Narendra Modi in his address to the nation on Tuesday said that the notes will be circulated soon, RBI has decided to limit the notes with higher value.
The Prime Minister announced that Rs. 500 and Rs. 1,000 denomination notes are being withdrawn from midnight. He said that such notes will become "mere paper".
PM Modi said this was being done to tackle the...
