Demonetisation has also improved transmission in the banking system and led to the greater financialization of savings
Prime Minister Narendra Modi had announced on November 8 last year scrapping of Rs 500 and Rs 1000 currency notes.
Senior Congress leader Rajeev Shukla said the Modi government had inherited 23 welfare schemes which were at various stages of implementation, renamed and presented them as its own.
Social capital is "insufficient" in the country and spending on aspects like health and education "is not just desirable for its (India's) own sake, but is also central to economic growth and political stability", it said.
According to the global financial services major, two recent policy measures -- demonetisation in November 2016 and GST rollout in July 2017 had a short term impact on economic activity and aggravated the already slowing momentum.
UNCTAD's Trade and Development 2017 report notes that the world economy in 2017 is picking up but not lifting off. The growth is expected to reach 2.6 per cent, slightly higher than in 2016 but well below the pre-financial crisis average of 3.2 per cent.
The ratings agency has estimated that Indian banks will need USD 65 billion as additional capital to meet Basel III requirements by 2019 with state banks requiring more than 90 percent.
The 3.6 million pre-owned car market grew at nine per cent as the demonetisation reduced market size by two lakh units or an estimated six per cent of the overall used car sales market, it said.
Last November, government scrapped Rs 500 and Rs 1,000 notes, which accounted over 86 per cent of the total Rs 16.24 trillion value of banknotes in circulation as of March 2016.
"Earlier, there was an expectation that a good portion of the money might not come back into the system owing to demonetisation. But that has not happened," Mundra, who retired from RBI in July 2017, told reporters on the sidelines of Bengal Chamber of Commerce and Industry's annual general meeting here.
The swap ratio being considered is one share of IndusInd Bank for 1.75 shares of Bharat Financial while RBL had proposed a 2:1 ratio.
Of the around Rs 6 crore, which the popular Lalbaugcha Raja in Parel received from devotees during the just concluded Ganesh festival, there were 105 notes of the scrapped Rs 1,000 denomination in the donation box.
India's economic growth slipped to a three-year low of 5.7 per cent in April-June, underscoring the disruptions caused by uncertainty related to the GST rollout amid slowdown in manufacturing activities.
The central bank also refused to give the total number of personnel deployed for counting of the scrapped notes, saying compiling the information would "disproportionately divert" its resources.
SC stayed insolvency proceedings against Jaypee Infratech, RBI declared HDFC Bank as “too big to fail bank” but RBI’s former head Raghuram Rajan stole the cake talking about demonetisation at the launch of his book “I Do What I Do”
In an interview to PTI, he said India can lecture the world on things such as culture and history, but on growth, it should do that only after achieving 8-10 per cent rate for 10 years.
The Reserve Bank of India said in its annual report on Aug. 30 that 99 percent, or around 15.28 trillion rupees ($238.7 billion), of the demonetized 500- and 1,000-rupee notes were deposited or exchanged for new currency. That figure suggests that most people — including corrupt officials, businessmen and criminals said to have hoarded their illicit wealth in cash — have managed to preserve their fortunes.
Lankesh, 55, was an outspoken critic of right-wing extremism.
He said he opened up on the topic of demonetisation as some of the responses given to the Parliamentary Committee by RBI about demonetisation were not in accordance with his actual response
Rajan was RBI governor in February 2016 when he was asked by the government for his views on junking of old 500 and 1,000 rupee notes, he revealed in his book 'I do what I do'.
Former RBI Governor Raghuram Rajan said he had cautioned the Centre on the short-term costs of demonetisation outweighing the long-term benefits, but despite his reservations, the Centre went ahead with the move.
Banking sector this week was over shadowed by RBI's annual report and a few banks cutting their lending rates. But an important ruling of Supreme Court in favour of ICICI Bank sets a new precedent
R Gandhi said the two things we need to look forward to is, the number of tax payers and where it is increasing. An extension of that is what the tax collections are.
India's GDP growth dropped to a three-year low of 5.7 per cent during April-June as manufacturing dipped and impact of the demonetisation lingered on in the third quarter.