Aditya Puri debunks some economists theory that GDP could fall

In an interview to the Business Standard, HDFC Bank Managing Director Aditya Puri said that demonetisation shouldn't be looked at as a single, standalone event, but should be put in the context of overall measures that will drive India towards a cashless economy.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney master your money IThe Winning Leap SME Special
Moneycontrol

Home » News » Business

Nov 30, 2016, 03.30 PM | Source: Moneycontrol.com

Aditya Puri debunks some economists' theory that GDP could fall

In an interview to the Business Standard, HDFC Bank Managing Director Aditya Puri said that demonetisation shouldn't be looked at as a single, standalone event, but should be put in the context of overall measures that will drive India towards a cashless economy.

Like this story, share it with millions of investors on M3

Aditya Puri debunks some economists theory that GDP could fall

In an interview to the Business Standard, HDFC Bank Managing Director Aditya Puri said that demonetisation shouldn't be looked at as a single, standalone event, but should be put in the context of overall measures that will drive India towards a cashless economy.

Post Your Comments

Share Cancel

Aditya Puri debunks some economists theory that GDP could fall
Moneycontrol Bureau

In an interview to the Business Standard , HDFC Bank Managing Director Aditya Puri said that demonetisation shouldn't be looked at as a single, standalone event, but should be put in the context of overall measures that will drive India towards a cashless economy.

Talking about the effect on banks, Puri admitted that there is bound to be a 'temporary aberration'. Government will invariably look to suck out excess cash from the system through measures such as the 100 percent CRR. He also stressed that once there are enough securities, RBI could ease the CRR.

Pain is a given, considering the demonetisation drive was kicked off overnight, and secrecy had to be maintained, he said.  

He also debunked many economists' theory that India's economy will grow at a slower pace and dip 50-200 basis points.

"I think it is absolute nonsense. How many times have anlaysts and economists been right? Some people say GDP will become 2 percent, some say 6 percent. The question is how do they know GDP will fall?"
Buy, Hold, Sell ? Hear it first on M3
Aditya Puri debunks some economists theory that GDP could fall

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login