SBI Report Reveals The Incredible Multiplier Effect Of Withdrawal On Economy

The State Bank of India (SBI) has published a research outlining how the recent withdrawal of rupees two thousand notes may increase bank deposits, loan repayment, and even the nation's GDP. According to the report, the "precision" strike "hits the right notes on multiple counts, significantly relieving pressure from the banking system's near-warlike quest for deposits while also easing the bias for higher interest rates moving forward." The removal of the 2,000 note from circulation is predicted to have an upward tilt on GDP growth, which is projected to be 8.1% in Q1 FY24. Watch BTTV's Managing Editor Siddharth Zarabi in conversation with SBI's Chief Economic Advisor Soumya Kanti Ghosh to understand the ins and outs of the report.