6 years of Demonetisation: On November 8, six years ago, Prime Minister Narendra Modi announced the demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key objectives of the unprecedented decision was to promote digital payments and curb black money, besides eliminating terror funding. As per a Reserve Bank data, currency with the public has jumped to a new high of Rs 30.88 lakh crore on October 21, indicating that cash usage is still substantial even six years after the demonetisation move. At Rs 30.88 lakh crore, the currency with the public is 71.84 per cent higher than the level for the fortnight that ended November 4, 2016.from IndiaTV Business: Google News Feed https://ift.tt/Dv2jCn9
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