Mumbai , Oct 27: Former chairman of State Bank of India, Arundhati Bhattacharya on Thursday said the central government should have granted more time to banks to appropriately prepare for demonetisation drive.
She came up with this remark while speaking at Manthan Aaj Tak.
Bhattacharya also revealed that she also came to know about the decision of note ban along with rest of the country November 8th last year.
“I came to know about the demonetisation decision along with the country at 8pm November last year. I came to know along with the country. For demonetisation, some time should be given to judge the move. One year is also not over and therefore time should be given,” Bhattacharya asserted, India Today quoted.
Hailing Modi-government’s demonetisation drive, she said tax payers registration has hiked which is good for the nation.
“After demonetisation, smaller notes percentage have increased, which too is good for the country. And after demonetisation, digitisation speed too has also increased. After demonetisation there were short term pains. Surely there will be long term gains as well,” she further added.
Last year on November 8, Prime Minister Narendra Modi had scrapped Rs 500 and Rs 1,000 notes to curb black money and terror activities.
Earlier this month, Bhattacharya retired as the first chairman of the public lender.