Tired of counting the currency notes returned to banks during the note ban, the Reserve Bank of India (RBI) has now begun counting the cost of demonetisation. The drastic fall in RBI’s annual cheque to the government was being squarely blamed on note ban. Bankers tell us in confidence that the currency crunch had never completely disappeared after DeMo. Economic affairs secretary Subhash Chandra Garg said the government suspects big hoarding of Rs 2,000 notes. If the government still believes that it helped wipe off black money and illegal hoarding, it should seriously think of a second round.

Source: dna April 23, 2018 00:11 UTC