Impact of Currency Revolution
on People, Real Estate, Banks, Jobs, Markets, and Living
According to unofficial reports, the ban on high denomination currency has witnessed an approximate deposit of Rs. 1 Lakh Cr in Indian Banks. Some unofficial reports also suggested that Currency demonetisation has led to increase of Rs. 2 – 3 lakh Cr worth bank deposits. In Maharashtra, BMC has already received over Rs.200Cr as property tax deposits in last 2 days.
In the short term it may have marginal negative impact on spending, which may get reflected in GDP numbers of the next quarter. In the mid to long term this move is likely to have positive impact on the Indian economy.
Let’s have a look at the impact of this initiative on various sectors and stakeholders.