Home Business Demonetisation Effect?? Bank deposit growth falls to five-decade low

Demonetisation Effect?? Bank deposit growth falls to five-decade low

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(G.N.S) Dt. 04 Mumbai Demonetisation of high value currency notes in November 2016 seems to be affecting banking business, adversely now. Bank growth rate fell to its lowest since 1963 in the financial year ending March 2018. The bank deposit grew by 6.7 per cent in 2017-18, according to the data available on the Reserve Bank of India (RBI) website. This is the lowest growth rate in bank deposits since

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