Moody's: India's demonetization has mixed impacts on sovereign, banks and corporates
Singapore, November 24, 2016-- Moody's Investors Service says that the move by the Government of India to withdraw all INR500 and 1,000 notes-- approximately 86% of all outstanding notes-- is affecting all sectors of the economy to various extents, with banks being the key beneficiary. "Although the measures in the near term will pressure GDP growth and thereby government revenues, in the longer term they should boost tax revenues and translate into higher government capital...
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