prasad1
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Having speeded up printing presses to refill banks’ empty ATMs in some parts of the country, the Reserve Bank of India (RBI) released data on Wednesday showing that people were still hoarding cash as withdrawals outpaced spending.
Rupa Rege Nitsure, group chief economist at L&T Finance Holdings, suspected the spike in withdrawals could be a belated reaction after the government’s so-called “demonetisation” move.
“Post demonetisation, there is a fear among people over availability of cash and there could be a tendency of small businesses withdrawing money and hoarding cash given that bank credit is not easily available to them,” she said.
https://timesofindia.indiatimes.com/business/india-business/wheres-the-money-rbi-data-shows-indias-old-habits-die-hard/articleshow/63920762.cms
Maybe Indian Rupee notes should have an expiry date!!!!!!!
Rupa Rege Nitsure, group chief economist at L&T Finance Holdings, suspected the spike in withdrawals could be a belated reaction after the government’s so-called “demonetisation” move.
“Post demonetisation, there is a fear among people over availability of cash and there could be a tendency of small businesses withdrawing money and hoarding cash given that bank credit is not easily available to them,” she said.
https://timesofindia.indiatimes.com/business/india-business/wheres-the-money-rbi-data-shows-indias-old-habits-die-hard/articleshow/63920762.cms
Maybe Indian Rupee notes should have an expiry date!!!!!!!