Demonetisation good in the long-run, says Aditya Puri of HDFC Bank

Aditya Puri of HDFC Bank on Tuesday said the demonetisation move is positive in the long-run and the country will continue to remain a bright spot.

“Demonetisation is good. I am extremely positive about its outcome. The worst is behind us and the elephant has gone, the tail is left, and, hopefully, it will go away as well, by the middle of the next month,” the managing director of the second largest private sector lender said while addressing an award function organised by the IMC Ladies’ Wing here this evening.

The government had on November 8 announced scrapping of the old Rs 500 and Rs 1,000 notes. Puri said the demonetisation did create difficulties initially but the things have improved a lot now.

“There is more money in the system now. Interest rates are coming down. There is more transparency in the system now,” Puri added.