March 30, 2017

Future Is Cashless But Your Money Should Grow Too!

Future Is Cashless But Your Money Should Grow Too!

The Government of India, has de-monetised र 500 and र 1000 notes with effect from 9/11/ 2016. As per official data, till March 2016, र 14 Trillion out of र 16 Trillion worth currency issued by the RBI wherein the denominations of र 500 and र 1,000. This works out to about 10.5% of GDP. We at Advisorkhoj believe that, the Government wants its citizens to move from physical cash to digital cash.The Government of India, has de-monetised र 500 and र 1000 notes with effect from 9/11/ 2016.

As per official data, till March 2016, र 14 Trillion out of र 16 Trillion worth currency issued by the RBI wherein the denominations of र 500 and र 1,000. This works out to about 10.5% of GDP. We at Advisorkhoj believe that, the Government wants its citizens to move from physical cash to digital cash.While on one hand, Demonetization will bring in additional liquidity to the banking and formal system and support economic growth in longer term, on the other hand, it will lead to lower inflation and interest rates on bank deposits will fall further. Already some banks have reduced their FD rates post this step.

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