Demonetisation Will Also Lower Inflation: SBI Chief
Bhattacharya urged people to make greater use of debit cards to ease the short-term turbulence.
On a day when distressed customers flocked to banks outlets across the country, State Bank of India Chairperson Arundhati Bhattacharya said that new currency notes worth Rs 500 were yet to reach the banks and that it would be available in a week’s time.
Bhattacharya also urged masses to make transactions through debit cards as that would help the bank’s teller counters serve those have no ATM cards, better.
Speaking on the effect of demonetisation, the chief of India’s largest bank said that the move could help in easing inflation, thereby raising the possibility of a rate cut.She also stated that the Centre’s stand could prevent Indians from defaulting on Income Tax payments.
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