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Jaitley Reveals Gains From Note Ban

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New Delhi: Union Minister for Finance, Corporate Affairs and Defence Arun Jaitley making a statement on the Supreme Court's decision on Triple Talaq in New Delhi on Aug 22, 2017. (Photo: IANS/PIB) by .
Arun Jaitley

Finance Minister Arun Jaitley said that increase in volume of digital transactions, widening of tax base and squeezed circulation of high denomination currency were the real measures of success of demonetisation….reports Asian Lite News

New Delhi: Union Minister for Finance, Corporate Affairs and Defence Arun Jaitley making a statement on the Supreme Court's decision on Triple Talaq in New Delhi on Aug 22, 2017. (Photo: IANS/PIB) by .
Arun Jaitley

The success of the November 2016 note ban came under attack after the Reserve Bank of India revealed that almost 99 per cent of the banned currency had returned to the banks.

“Some circles have lack of understanding and measure success of demonetisation with only how much money reached banks,” Jaitley said here at the launch of Google’s new digital payment app — Tez.