Page 43 - Banking Finance December 2016

FEATURES

rehjaye, koi meri galti nikal jaye, koi meri galat irada nikal Distribution of various currency notes in circu-
jaye, aap jis chaurahe main mujhe khada karenge, main lation
khada hokarke desh jo saza karega, wo saza bhugatne ke
(As of March 2016, in %), In Rs crore
liye taiyyar hoon (I have only asked for 50 days. Give me
time till December 30. After that, if any fault is found in
my intentions or my actions, I am willing to suffer any pun-
ishment given by the country)," he said, speaking at the
foundation stone laying ceremony of the Mopa airport in
Goa.

Litigations against demonetisation

A Public Interest Litigation (PIL) was filed in Madras High
Court by M Seeni Ahamed, General Secretary of the Indian
National League, to scrap the decision. The High Court dis-
missed the PIL stating that it could not interfere in mon-
etary policies of the government. Source: RBI

Similar PILs were also filed in the Supreme Court of India. Housing prices growth has been slowing across
Supreme Court of India gave the judgement that Govern- the country
ment is free to change policy, taking into consideration the
RBI's housing price index (y-o-y change, in %)
prevalent socio-economic conditions and that the courts
have only a limited role to play.

India's black economy and impact of
demonetisation
Many surveys have been conducted till now to know the
impact of demonetisation on the economy which are listed
below:
Estimate Size of India's black economy
(as a share of India's GDP in %)

Source: Various academic studies, Ambit Capital Research

BANKING FINANCE | DECEMBER | 2016 | 43

Copyright@ The Insurance Times. 09883398055 / 09883380339