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Demonetisation to permanently erode cash worth Rs 1.7 lakh crore: SBI

Demonetisation to permanently erode cash worth Rs 1.7 lakh crore: SBI

Monday, April 3, 2017, 4:42 PM

Demonetisation exercise by the government may permanently erode about Rs 1.7 lakh crore worth cash from the system translating into liquidity, according to a report by SBI Research. This would be equivalent to about 1.1% of GDP. “ This data is a reflection of the extent of formalization of the economy post demonetization.“
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