Demonetisation boosts banks’ ability to lend : FM

01 January, New Delhi

Finance Minister Arun Jaitley Sunday expressed confidence that the process of remonetisation will be completed in the coming days.

Talking to media in New Delhi, Jaitley said, remonetisation has progressed extremely well. He said, a large amount of money, including black money, has come into the banking system which has increased banks’ ability to lend.

The Minister exuded belief that India will continue to be one of the fastest growing economies this year. He said, inflation is under control, and consequently interest rates are coming down.

Jaitley said, he saw 2017 as a year in which Goods and Services Tax will be implemented adding that digitised economy will be future of India.

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