Impact of note ban could spill over FY18: RBI

Impact of note ban could spill over FY18: RBI

Days after the country’s economic growth numbers showed an acceleration of 7% in the October-December period, the months marred by demonetisation, the Reserve Bank of India on Monday said the full impact of demonetisation was not captured in the GDP data.

RBI Deputy Governor Viral Acharya said the impact of demonetisation could spill over to the next financial year 2017-18, and some sectors could be more impacted than the others. “The sectors like the two-wheeler segment could be more impacted,” Acharya said but did not elaborate further.

This, he said could be because of cash in the economy would be lower than pre-demonetisation period in the next two to three months.

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