back to top
    Jammu KashmirDemonetisation had not much affect in J&K: Drabu

    Demonetisation had not much affect in J&K: Drabu


    Demonetisation had not much affect in J&K: Drabu

    Tawi, January 11: Stating that main banks in the State managed demonetisation well, the Jammu and Government today said the note ban did not have any negative effect on the State and instead it helped bring down prices of the real estate which had once gone beyond reach.

    “I don't think that the demonetisation has had any effect as it has been managed very well by the principle banks and I would compliment J&K Bank for that,”  Minister Haseeb Drabu told reporters after presenting the State today.

    He said that the people of J&K have got used to certain situation of distress and when the strike is for five months and banks are not open so they stock cash, when there is uncertainty in the overall system then people take measures to keep cash so the transactional demand is very high.

    “Also there is a lot of community banking in J&K and the number of people are very small 1.25 crore people, it is not like Bihar and UP and I think we have managed the demonetisation part very well as far as personal finance go.”

    The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

    Share post:


    More like this

    Relief For Salaried Class Under New Tax Regime; 50% Hike In Standard Deduction To Rs 75,000

    New Delhi, Jul 23: In sops for the middle...

    Union Budget Proposes Reduction In Customs Duty On Gold, Silver, Platinum

    New Delhi, Jul 23: Finance Minister Nirmala Sitharaman on...

    Budget 2024-25 | Mobile Phones To Get Cheaper, As FM Reduces Basic Customs Duty To 15%

    New Delhi, Jul 23: Finance Minister Nirmala Sitharaman announced...

    10 Shops Gutted In Blaze At Market In Jammu And Kashmir’s Uri

    Srinagar, Jul 23: At least 10 shops were gutted...