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Ex-SBI Chief faults Note Ban in a hurried manner
By: Tupaki Desk | 26 Oct 2017 4:54 PM GMT
Former State Bank of India (SBI) chairman Arundhati Bhattacharya didn't hesitate to say announcing Demonetisation all of a sudden had put tremendous pressure on the Banks. She felt it would have been nice had if some time was given for the banks to prepare for the note ban.
Arundhati Bhattacharya opined better results could have been delivered had if banks had enough time to prepare for the massive exercise. 'Moving cash is a very large logistic exercise, there are certain rules...we need to deploy cops, arrange convoy and finalize the route map. Had if there was time, It would have been less strenuous on us,' she told at an event Today.
However, The Ex-Chief of India's largest banking network feels it's too early to decide whether Demonetisation was right or wrong. She quotes 40 percent increase in the number of Tax Payers and rise in Digital Transactions as a positive side of note ban.
Responding on the infuse of Rs 2.11 lakh crore into public sector banks, Arundhati Bhattacharya said it's a move meant to boost the economy.
Arundhati Bhattacharya opined better results could have been delivered had if banks had enough time to prepare for the massive exercise. 'Moving cash is a very large logistic exercise, there are certain rules...we need to deploy cops, arrange convoy and finalize the route map. Had if there was time, It would have been less strenuous on us,' she told at an event Today.
However, The Ex-Chief of India's largest banking network feels it's too early to decide whether Demonetisation was right or wrong. She quotes 40 percent increase in the number of Tax Payers and rise in Digital Transactions as a positive side of note ban.
Responding on the infuse of Rs 2.11 lakh crore into public sector banks, Arundhati Bhattacharya said it's a move meant to boost the economy.
