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Note ban will have positive impact in long term: World Bank

Note ban will have positive impact in long term: World Bank

Tuesday, April 18, 2017, 9:07 AM

Temporary setbacks notwithstanding, note-ban will have a positive development impact in the long-term as it accelerates financial deepening, foster financial inclusion and increase transparency, World Bank has said. In a report titled 'South Asia Economic Focus - Globalization Backlash', it said eliminating tax-evasion and corruption the most talked objectives of junking old 500 and 1000 rupee notes is "typically a demanding process involving multiple-measures-overtime."
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