Demonetisation good for economy: Anil Gachke

Bandra - Prime minister Narendra Modi's decision to put the 500 and 1000 rupee notes out of circulation has evoked multiple reactions. Renowned economist Anil Gachke has welcomed this move, saying that when anyone tries to exchange an amount more than Rs 50,000, it can lead to a probe into the transaction. "But it will not have much influence on the flow of money in the market. Also, there is confusion about the new 500 and 2000 rupee notes." While citizens are worried that this may lead to black marketing, Gachke says that is inevitable considering human nature.

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