title-bar

FM Arun Jaitley lists three gains from note ban

By: |
New Delhi | Updated: September 18, 2017 2:55:20 PM

Increase in volume of digital transactions, widening of tax base and squeezed circulation of high denomination currency were the real measures of success of demonetisation, Finance Minister Arun Jaitley said on Monday.

Arun Jaitley, high denomination currency, demonetisation, Note ban, success of note ban, success of demonetisation, Demonetisation success, note ban success, note ban successful, Google's new digital payment appFinance Minister Arun Jaitley. (Image: PTI)

Increase in volume of digital transactions, widening of tax base and squeezed circulation of high denomination currency were the real measures of success of demonetisation, Finance Minister Arun Jaitley said on Monday. The success of the November 2016 note ban came under attack after the Reserve Bank of India revealed that almost 99 per cent of the banned currency had returned to the banks. “Some circles have lack of understanding and measure success of demonetisation with only how much money reached banks,” Jaitley said here at the launch of Google’s new digital payment app — Tez.

Follow financialexpress.com for all news and analysis on the Lok Sabha Elections 2019. Check Lok Sabha election 2019 schedule, Lok Sabha Constituency Details and updates on campaigning by Narendra Modi and Rahul Gandhi. Like us on Facebook, follow us on Twitter.

Switch to Hindi Edition