opensansad/lok-sabha-qa huggingface dataset:
Lok Sabha Question No. 275 (UNSTARRED), answered on 2017-02-03
Subject: DICGC
Ministry: FINANCE
Asked by: DARSHANA VIKRAM JARDOSH

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA

## UNSTARRED QUESTION NO. 275 TO BE ANSWERED ON FRIDAY, FEBRUARY 3, 2017 / MAGHA 14, 1938 (SAKA) DICGC

## 275. SHRIMATI DARSHANA VIKRAM JARDOSH:

Will the Minister of Finance be pleased to state:

- (a) whether the Government has received final proposal from the Deposit Insurance and Credit Guarantee Corporation (DICGC) on the risk based deposit insurance premium structure;
- (b) if  so,  the  details  of  the  proposals  and  the  action  taken by Government thereon alongwith the financial implications worked out in this regard;
- (c) if not, the details of the present status thereof and by when DICGC is expected to send the final proposal to the Government; and
- (d) the details of deposit insurance ceiling limit likely to be enhanced?

## ANSWER

## THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI SANTOSH KUMAR GANGWAR)

- (a): No, Sir.
- (b): In view of reply to (a) above, does not arise.
- (c) and (d): No decision has been taken by DICGC in the matter.

***
Lok Sabha Question No. 274 (UNSTARRED), answered on 2017-02-03
Subject: Anti-Malaria Drug
Ministry: HEALTH AND FAMILY WELFARE
Asked by: RAKSHA NIKHIL KHADSE

## GOVERNMENT OF INDIA MINISTRY OF HEALTH AND FAMILY WELFARE DEPARTMENT OF HEALTH AND FAMILY WELFARE

## LOK SABHA UNSTARRED QUESTION NO. 274 TO BE ANSWERED ON 3 RD FEBRUARY, 2017

## ANTI - MALARIA DRUG

## 274. SHRIMATI RAKSHATAI KHADSE:

Will the Minister of HEALTH AND FAMILY WELFARE be pleased to state:

- (a) whether there has been any breakthrough in developing a one day two dose anti malaria which could replace the current 14 day long treatment;
- (b) if so, the details thereof;
- (c) whether clinical trials of said drug has been approved; and
- (d)if so, the details thereof and the time by which said drug will be available in the mar

## ANSWER THE MINISTER OF STATE IN THE MINISTRY OF HEALTH AND FAMILY WELFARE ( FAGGAN SINGH KULASTE )

- (a) : Yes.
- (b) : Anitmalarial drug which could replace the current 14 day long primaquine treatment P. vivax relapse is an 8 - aminoquinoline, Tafenoquine being developed GSK and MMV .
- (c) : Yes,  the  Phase  II  multi - country  clinical  trial  including  India  was  approved by  Drug Control General of India (DCGI).
- (d) : Phase  III  multi - country  clinical  trial  has  been  completed  at  Brazil,  Colombia,  Pe Thailand, Vietnam, Ethiopia and Philippines. The results will be available in 2017 and submitted to US FDA and TGA Australia for approvals. Thereafter approvals from other malaria endemic countries will be obtained.

………….
Lok Sabha Question No. 271 (UNSTARRED), answered on 2017-02-03
Subject: Amendment in STF
Ministry: FINANCE
Asked by: NARANBHAI KACHHADIA

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO: 271

## TO BE ANSWERED ON FRIDAY, THE 3 RD  FEBRUARY, 2017 14, MAGHA, 1938  (SAKA)

## AMENDMENT IN STF

## 271: SHRI NARANBHAI KACHHADIYA:

Will the Minister of FINANCE be pleased to state:

- (a) whether  the  Government  has  amended  the  Income  Tax  Rules,  1962  pertaining  to disclosure of Statement of Financial Transaction (SFT); and
- (b) if so, the details thereof and the reasons therefor?

## ANSWER MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI SANTOSH KUMAR GANGWAR)

(a) & (b) Yes, in view of the recent demonetisation and in order to obtain information about the cash deposits, so as to enable collation and analysis of such information to unearth black money, rule 114E of the Income-tax Rules, 1962 has been amended to provide that banks and the post offices shall furnish Statement of Financial Transaction(SFT) electronically in Form61A. (A) in respect of the cash deposits during the period 9.11.2016 to 30.12.2016 aggregating to(i) twelve lakh fifty thousand rupees or more, in one or more current account of a person; or (ii)  two  lakh  fifty  thousand  rupees  or  more,  in  one  or  more  accounts  (other  than  a  current account) of a person.

(B) in respect of cash deposit during the period 1.4.2016 to 9.11.2016 in accounts where the cash deposits during the period 9.11.2016 to 30.12.2016 exceeds the limits specified under (A) above.

The SFT in respect of above mentioned transactions are to be furnished on or before the 31 st day of January, 2017.

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Lok Sabha Question No. 270 (UNSTARRED), answered on 2017-02-03
Subject: Payment and Settlement System
Ministry: FINANCE
Asked by: G. HARI

## 270. SHRI G. HARI:

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA

## UNSTARRED QUESTION NO.270

## TO BE ANSWERED ON 3 RD  FEBRUARY 2017/14 TH  MAGHA SAKA, 1938

## PAYMENT AND SETTLEMENT SYSTEM

## QUESTION

## Will the Minister of FINANCE be pleased to state:

- (a) whether the Reserve Bank of India (RBI) has released its framework on payment  and  settlement  system  to  build  best  of  class  payment  and settlement system for cashless India; and
- (b)      if so, the details thereof and the action taken by the RBI in this regard?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY FOR FINANCE (SHRI ARJUN RAM MEGHWAL)

--------

- (a) &(b) Since May 2005, Reserve Bank of India (RBI) has been releasing its Vision for Payment and Settlement Systems in India. The latest Vision document titled 'Payment and Settlement Systems in India: Vision-2018' was released on June 23, 2016 and the same is available at RBI website www.rbi.org.in/scripts/publicationvisiondocuments.aspx. The Vision-2018 aims at building best of class payment and settlement systems for a 'less-cash' India. The  broad  contours  of  Vision-2018  revolve  around  5  Cs  -  Coverage, Convenience, Confidence, Convergence and Cost. To achieve these, Vision2018 focus is on four strategic initiatives such as responsive regulation, robust infrastructure, effective supervision and customer centricity.
Lok Sabha Question No. 269 (UNSTARRED), answered on 2017-02-03
Subject: Abortion by AYUSH Practitioners
Ministry: HEALTH AND FAMILY WELFARE
Asked by: FEROZE VARUN GANDHI

## GOVERNMENT OF INDIA MINISTRY OF HEALTH AND FAMILY WELFARE DEPARTMENT OF HEALTH AND FAMILY WELFARE

LOK SABHA UNSTARRED  QUESTION NO. 269 TO BE ANSWERED ON 3 RD FEBRUARY, 2017

## ABORTION BY AYUSH PR ACTITIONERS

## 269. SHRI FEROZE VARUN GANDHI:

Will the Minister of HEALTH AND FAMILY WELFARE be pleased to state:

- (a) whether the proposal to permit AYUSH doctors to perform abortions has been implement and if so, the details thereof;
- (b) whether a system of monitoring and ensuring compliance wi th quality standards has been formulated for AYUSH clinics where abortions are performed and if so, the details thereof;
- (c)  whether any  scheme  or  proposal  for  importing  necessary  training  to  AYUSH  doctors  to conduct abortions has been formulated and if so, the details thereof;
- (d)  whether  any  incidents  of  illegal  abortions  or  deaths  caused  by  abortions  conduc AYUSH doctors have been reported during the last three years; and
- (e)  whether  the  Government  plans  to  reconsider  its  proposal  to  permit  AYUSH  doctors conduct abortions in light of these reports and if so, the details thereof?

## ANSWER THE MINISTER OF STATE MINISTRY OF HEALTH AND FAMILY WELFARE (SHRI FAGGAN SINGH KULASTE)

(a)  to (c):     The draft MTP (Amendment) Bill, 2016 seeks to improve access to safe, aff and acceptable abortion services for all women who seek to terminate an unwanted, unintended pregnancy and the matter is under process.

Once approved, the revised MTP Rules will be suitably framed to address the issue training of new cadre of providers.

(d) &( e):    No such incident has been reported to the Ministry and the draft bill is und of approval.

……………..
Lok Sabha Question No. 268 (UNSTARRED), answered on 2017-02-03
Subject: Infection Spread from Mobile Phones in Hospitals
Ministry: HEALTH AND FAMILY WELFARE
Asked by: SHIVKUMAR CHANABASAPPA UDASI

## GOVERNMENT OF INDIA MINISTRY OF HEALTH AND FAMILY WELFARE DEPARTMENT OF HEALTH AND FAMILY WELFARE

LOK SABHA UNSTARRED QUESTION NO. 268 TO BE ANSWERED ON 3 RD FEBRUARY, 2017

## INFECTION SPREAD FRO M MOBILE PHONES IN H OSPITALS

## 268. SHRI SHIVKUMAR UDASI:

Will the Minister of HEALTH AND FAMILY WELFARE be pleased to state:

- (a) whether scientists have warned that mobile phones spread infections in hospitals and i details thereof;
- (b) whether the Government has conducted any survey about the numbe r of persons who get infections in hospitals in the country and if so, the details thereof; and
- (c) the steps taken to keep patients free from infections in hospitals in the country?

## ANSWER THE MINISTER OF STATE IN THE MINISTRY OF HEALTH AND FAMILY WELFARE ( FAGGAN SINGH KULASTE )

- (a) : Indian  Council  of  Medical  Research  (ICMR)  has  informed  that  in  a  recent  stud conducted by Pal et al. in 2015, on 386 participants, it was found that 81.8% mobile phones an 80% hand swabs showed bacterial pathogen growth.

Directorate  General  of  Health  Services  has  informed  that,  there  is  risk  of  spr infection  by  handling  same  mobile  phone  set  by  d ifferent  people  without  taking  proper precautions of hand hygiene.

- (b) :      No .
- (c) : The Indian Council of Medical Research (ICMR) has issued guidelines, on 'Hospital Infection Control' to reduce infections in hospitals in general. The said guideli nes are available on the website of ICMR.

………………
Lok Sabha Question No. 267 (UNSTARRED), answered on 2017-02-03
Subject: Defence Quota in Medical Courses
Ministry: HEALTH AND FAMILY WELFARE
Asked by: Y. S. AVINASH REDDY

## GOVERNMENT OF INDIA MINISTRY OF HEALTH AND FAMILY WELFARE DEPARTMENT OF HEALTH AND FAMILY WELFARE

## LOK SABHA UNSTARRED QUESTION NO. 267 TO BE ANSWERED ON 3 RD FEBRUARY, 2017

## DEFENCE QUOTA IN MED ICAL COURSES

## 267. SHRI Y.S. AVINASH REDDY:

Will the Minister of HEALTH AND FAMILY WELFARE be pleased to state:

- (a)  whether  the  Government  has  received  any  request to provide  reservation  for  defence personnel in medical courses of Government run colleges and if so, the details thereof;
- (b) wheth er Ministry of Home Affairs has recommended for providing the same, if so, the det thereof;
- (c) whether the Government has taken any decision to provide reservation to defence pers in medical courses, if so, the details thereof and if not, the r easons therefor;
- (d) whether Supreme Court has also sought the clarification in this regard; and
- (e) if so, the action taken by the Government thereon?

## ANSWER THE MINISTER OF STATE IN THE MINISTRY OF HEALTH AND FAMILY WELFARE ( FAGGAN SINGH KULASTE )

- ( a):      No. However, a specific reference was received only for VMMC under IP University
- (b) & (c):     No reference has been received from MHA in this Ministry.
- (d) & (e):    No.

……………
Lok Sabha Question No. 266 (UNSTARRED), answered on 2017-02-03
Subject: Gold Import
Ministry: FINANCE
Asked by: B. SREERAMULU

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA

UNSTARRED  QUESTION No.266

TO BE ANSWERED ON: Friday, February  3,2017 /Magha t4, 1938 (Saka)

Gold Import

## OUESTION

## 266. by SHRI B. SRIRAMULU:

Will the Minister of FINANCE  be pleased  to state:

- (a)  the position of India among the top ten gold holding  countries  of the world;
- (b) whether the measures  taken by the Government  have decreased  Gold import during the last three years;
- (c) if so, the details  thereof;
- (d) whether  the Government  proposes  to provide incentives  to promote sovereign gold bond and decrease the gold import and if so, the details thereof; and
- (e) the steps taken by the Government in this regard?

## ANSWER MINISTER OF STATE IN THE MINISTRY OF FINANCE (Shri Arjun Ram Meghwal)

- (a) The Government  does not maintain  any data regarding holding of gold in various countries  of the world. However, as per estimates  over 2OOOO tonnes of gold is held by households,  trusts and various institutions  in India.
- (b)  to (e) To mobilize the idle gold held by households  and institutions in the country and to put this gold into productive use and irr the long-run. to reduce the current  account deficit by reducing the country's reliance  on the imports of gold  to meet the domestic demand, Government  launched Gold Monetisation Scheme and Sovereign Gold Bond Scheme in November. 2015. The details of the gold imported  during the last three years are as under:

| YEAR                 | QrY(roN)   | VAL MILLION USD )   |
|----------------------|------------|---------------------|
| 20t4-15              | 9t5.47     | 34407.L8            |
| 2015 - 16            | 968.06     | 31770.74            |
| 20t6-t7 (APR rO DEC) | 492.85     | L7732.42            |

NOTE: FIGURES  FOR 2016-17 (APR  TO DEC) IS PROVISTONAL. (Source:  DGCIS)

To promote  the Sovereign  Gold Bond (SGB)  Scheme following  measures  have been taken by the Government:

- (i) capital  Gain tax arising on redemption of SGB to an individual has been exempted. Also, indexation  benefits are being provided to long term capital gain arising on transfer  of SGB.
- (ii) A discount of Rs. 50 per gram was offered  in the SGB Series III (Tranche  VI) issued on November 17, 2016.
- (iii) The minimum investment limit has been reduced  from 2gms to lgms w.e.f. the IInd Tranche  of SGB issued in February,  2016.
Lok Sabha Question No. 264 (UNSTARRED), answered on 2017-02-03
Subject: Guidelines for Setting up AYUSH Colleges
Ministry: AYURVEDA,YOGA & NATUROPATHY,UNANI,SIDDHA AND HOMEOPATHY (AYUSH)
Asked by: JUGAL KISHORE SHARMA

## GOVERNMENT OF INDIA MINISTRY OF AYURVEDA, YOGA & NATUROPATHY, UNANI, SIDDHA AND HOMOEOPATHY (AYUSH)

## LOK SABHA UNSTARRED  QUESTION NO. 264 TO BE ANSWERED ON 3 RD FEBRUARY, 2017

## GUIDELINES FOR SETTING UP AYUSH COLLEGES

## 264. SHRI JUGAL KISHORE:

Will  the  Minister of AYURVEDA,  YOGA  AND  NATUROPATHY,  UNANI, SIDDHA AND HOMOEOPATHY (AYUSH) be pleased to state:

- (a)  the  existing  guidelines  to  set  up  Ayurveda,  Unani,  and  Siddha  Medical  Colleges  an designated authority to frame and implement these guidelines;
- (b) whether the Government has recently sanctioned the setting up of 67 Ayurveda, Unani Siddha  medical  colleges  to  admit  the  students  despite  the  recommendations  of  the  Ce Regulatory Authority that these colleges do not fulfil the mi nimum norms prescribed therefor; and
- (c) if so, the details thereof and the reasons therefor?

## ANSWER

## THE MINISTER OF STATE (IC) OF THE MINISTRY OF AYURVEDA, YOGA & NATUROPATHY, UNANI, SIDDHA AND HOMOEOPATH Y (SHRI SHRIPAD YESSO NAIK)

- (a) : The  existing guidelines  to  set  up  Ayurveda,  Unani  and  Siddha  Medical  Colleges is regulated by 'the Establishment of New Medical College, Opening of New or Higher Course of Studies  or  Training  and  Increase  of  Admission capacity  by  a  Medical  College  Regulations, 2003' and 'Minimum Standard Requirement, Regulations 2016' for Ayurveda, Unani & Siddha framed under the Indian Medicine Central Council Act, 1970.

The Central Council of Indian Medicine (CCIM) is a statutory authority set up as pe provision of Indi an Medicine Central Council Act, 1970 that regulates the education and practice of Ayurveda, U nani and Siddha systems of medicine. CCIM time to time f rames andnotifie s Regulation s  to  implement  guidelines with  the  previous  san ction  of  the  Central  Government. Indian Medicine Central Council (Amendment) Act 2003 came into force from 7 th November 2003 and consequently the powers to set up Ayurveda, U naniand Siddha Medical Colleges vest with the Central Government.

- (b) & (c):     No . The Government sanctioned the setting up of 46 (42 Ayurveda, 03 Unani & 01  Siddha)  Medical  Colleges  for  the  academic  session  2016 - 17. Out  of  these,  08  Ayurveda colleges w ere sanctioned though it was not recommended by the CCIM because the Ministry while  examining  the  proposals  found  that  these  colleges  were  eligible  as  per  the  r Regulations for granting conditional permission
Lok Sabha Question No. 263 (UNSTARRED), answered on 2017-02-03
Subject: Ban on Online Child Pornography
Ministry: WOMEN AND CHILD DEVELOPMENT
Asked by: RAJAN BABURAO  VICHARE

## GOVERNMENT OF INDIA MINISTRY OF WOMEN AND CHILD DEVELOPMENT

## LOK SABHA UNSTARRED QUESTION NO.263

TO BE ANSWERED ON 03.02.2017

## BAN ON ONLINE CHILD PORNOGRAPHY

## 263.  SHRI RAJAN VICHARE:

Will the Minister of WOMEN AND CHILD DEVELOPMENT be pleased to state:

- (a)     whether the Government is contemplating to put a ban on online child  pornography to check child abuse and proposes to form a national alliance for this purpose and if so, the details thereof;
- (b)    whether the opinion of experts have been taken and Google is also being consulted on this matter;
- (c)     if so, the details thereof and if not, the reasons therefor; and
- (d)   the present status of the proposal and the time by which the ban is likely to be imposed in this regard?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF WOMEN AND CHILD DEVELOPMENT (SHRIMATI KRISHANA RAJ)

- (a) to (d) The Ministry of Women and Child Development organised a day-long consultation on 16 th January,  2017  with  all  stakeholders  including  Ministries  of  Home  Affairs,  Ministry  of  Health  and Family Welfare, Ministry of Electronics and Information Technology, Department of School Education and  Literacy,  National  Commission  for  Protection  of  Child  Rights  and  civil  society  organisations working  on  the  issue  to  brainstorm  on  the  process  of  forming  a  National  Alliance  against  Online Child Sexual Abuse and Exploitation. The aim of the consultation was to develop a comprehensive outreach  system  to  engage  parents,  schools,  communities,  NGO  partners and  local  governments (PRIs  and  ULBs)  as  well  as  police  and  lawyers  to  ensure  better  implementation  of  the  legal framework, policies, national strategies and standards in relation to child protection and child rights. During  the  consultation  inter-  need  for  the  alliance  was  endorsed  with  emphasis  on  setting  up National response team with a multi member Secretariat at MWCD.

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Lok Sabha Question No. 262 (UNSTARRED), answered on 2017-02-03
Subject: Credit Growth in Public Sector Banks
Ministry: FINANCE
Asked by: M. UDHAYAKUMAR

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA

## UNSTARRED QUESTION NO. 262

TO BE ANSWERED ON THE 3 rd  February 2017/ Magha 14, 1938 (SAKA)

## Credit Growth in Public Sector Banks QUESTION

## 262.  ADV. M. UDHAYAKUMAR:

Will the Minister of FINANCE be pleased to state:

(a) whether the slowdown in credit growth in public sector banks is largest because of stress and not because of high interest rates or lack of capital;

(b) if so, the details thereof;

(c) whether  banks  have  to  follow  certain  three  basic  principles  which  were  followed  world  over when faced with incipient distress by them;

(d) if so, the details thereof and the steps taken by the public sector banks in this regard?

## ANSWER

## The Minister of State in the Ministry of Finance (SHRI SANTOSH KUMAR GANGWAR)

(a)  to  (d):  Reserve  Bank  of  India  (RBI)  has  informed  that  the  Annual  credit  growth  of  Public  Sector Banks (PSBs) slowed  down from 7.12% as at end of March 2015 to 3.82% as at end of March 2016. Stressed advances ratio for PSBs has increased from 13.24% as at end of March 2015 to 14.40% as at end of March 2016. Lower credit growth of PSBs could possibly be on account of rebalancing of portfolio in the wake of impairments leading to higher credit costs including provisions, stress in certain sections etc.

The then RBI Governor, in his speech at ASSOCHAM -Interactive Meet with Industry & Trade on June 22, 2016  at Bengaluru said that the world over, there are three cardinal rules when faced with incipient distress:-

(i)  Viability  does  not  depend  on  the  debt  outstanding,  but  on  economic  value.  Debt  may  have  to  be written down to correspond to what is viable.

(ii)   Complete projects that are viable, even if it requires additional funds infusion.

(iii)   Don't throw good money after bad money simply because there is an unreliable promise that debt will become serviceable.

RBI  has  provided  a  number  of  tools  in  this  regard -Corporate  Debt  Restructuring  (CDR), Formation of  Joint  Lenders'  Forum  (JLF ), Flexible Structuring for long term project loans to Infrastructure  and  Core  Industries  (5/25  Scheme),  Strategic  Debt  Restructuring  Scheme  (SDR)  and Sustainable  Structuring  of  Stressed  Assets  (S4A).  The  Government  has  taken  sector  specific  measures (Infrastructure,  Power, Road, Textiles,  Steel  etc.)  where  incidence  of  NPA  is  high.  The  Insolvency  and Bankruptcy Code (IBC) has been enacted and Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) and the Recovery of Debts due to Banks and Financial Institutions (RDDBFI) Act have been amended to improve resolution / recovery of bank loans. Six new Debt Recovery Tribunals (DRTs) have been established for improving recovery.

*******
Lok Sabha Question No. 261 (UNSTARRED), answered on 2017-02-03
Subject: Impact of Demonetisation
Ministry: FINANCE
Asked by: KAUSHALENDRA KUMAR, ARKA KESHARI DEO, LALLU SINGH, VIJAY KUMAR HANSDAK

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA

## UNSTARRED QUESTION NO.261

## TO BE ANSWERED ON 3 RD  FEBRUARY 2017/14 TH  MAGHA SAKA, 1938

## Impact of Demonetisation

261. Shri Kaushalendra Kumar:

Shri Arka Keshari DEO:

Shri Lallu Singh:

Shri Vijay Kumar Hansdak:

## QUESTION

## Will the Minister of FINANCE be pleased to state:

- a)  Whether the Government has taken note of adverse effects of demonetization  of  the  economy  and  consequent  slowdown  of  various sectors including agriculture, trade, services and tourism, if so, the details thereof;
- b)  Whether  the  Gross  Domestic  Production  of  the  country  has  also  been negatively affected due to demonetization leading to a threat of economic recession, if so, the details thereof; and
- c)  The corrective steps taken by the Government in this regard?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY FOR FINANCE

## (SHRI ARJUN RAM MEGHWAL)

--------

- (a) to (c) The main objective of the Government  for cancellation of legal tender character of High Denominations Bank Notes was to eliminate black money and to curb the infusion and circulation of Fake Indian Currency Note (FICN) in the economy.

Demonetization  seeks  to  create  a  new  'normal'  wherein  the  GDP would be bigger, cleaner  and real. This exercise is part of our Government's  resolve  to  eliminate  corruption,  black  money,  counterfeit currency and terror funding. Like all reforms, this measure is obviously disruptive,  as  it  seeks  to  change  the  retrograde  status  quo.  Drop  in economic activity, if any, on account of the currency squeeze during the remonetisation period is expected to have only a transient impact on the economy.

This  exercise  has  resulted  in  an  increase  in  deposits  with  banks. This will facilitate in reduction of interest rates and provide more headroom to bank to expand their credit base.

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