• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Salutary benefits from demonetisation in India: IMF

By PTI
|

Washington, December 15: The International Monetary Fund (IMF) sees benefits in the medium-term from the demonetisation exercise which India carried out about a year ago.

IMF sees benefits in the medium-term from the demonetisation exercise. PTI file photo

"We see salutary benefits from the demonetisation that took place a year ago. And there are potential benefits going forward," William Murray of the IMF told reporters at the fortnightly IMF news conference.

Murray said the demonetisation did cause some temporary disruptions in economic activity, primarily, private consumption and small businesses due to cash shortages. "(But) the effects are dissipating," he said in response to a question.

"In the medium term, demonetisation could have possible effects, including through greater formalisation of and the information on economic activities and a more efficient payment system with a greater use of the banking system and digital payments," Murry said.

The IMF is slated to come out with an update of its projections of India’s growth rate along with the rest of the world in January.

PTI

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more