Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Washington: &lt;/em&gt;India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;You&amp;rsquo;ve heard about so-called &amp;lsquo;helicopter drops&amp;rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&amp;rdquo; Paul A Cashin, Assistant Director in the IMF&amp;rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&amp;rsquo;s led to a lot of cash shortages that have adversely affected consumption,&amp;rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.&lt;br /&gt;
&lt;br /&gt;
Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&amp;rdquo; the IMF said.&lt;br /&gt;
&lt;br /&gt;
IMF said the repercussions from India&amp;rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.&lt;br /&gt;
&lt;br /&gt;
Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&amp;rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.&lt;br /&gt;
&lt;br /&gt;
Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more.
&lt;/div&gt;&#039;,
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-PTI

&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;

Washington: India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-PTI&lt;br /&gt;&lt;br /&gt;&lt;em&gt;&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Washington: &lt;/em&gt;India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;You&amp;rsquo;ve heard about so-called &amp;lsquo;helicopter drops&amp;rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&amp;rdquo; Paul A Cashin, Assistant Director in the IMF&amp;rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;It&amp;rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&amp;rsquo;s led to a lot of cash shortages that have adversely affected consumption,&amp;rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.&lt;br /&gt;&lt;br /&gt;Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&amp;rdquo; the IMF said.&lt;br /&gt;&lt;br /&gt;IMF said the repercussions from India&amp;rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.&lt;br /&gt;&lt;br /&gt;Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&amp;rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.&lt;br /&gt;&lt;br /&gt;Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot; title=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more.&lt;/div&gt;&#039;,
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&lt;br /&gt;
&lt;em&gt;&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Washington: &lt;/em&gt;India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;You&amp;rsquo;ve heard about so-called &amp;lsquo;helicopter drops&amp;rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&amp;rdquo; Paul A Cashin, Assistant Director in the IMF&amp;rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&amp;rsquo;s led to a lot of cash shortages that have adversely affected consumption,&amp;rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.&lt;br /&gt;
&lt;br /&gt;
Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&amp;rdquo; the IMF said.&lt;br /&gt;
&lt;br /&gt;
IMF said the repercussions from India&amp;rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.&lt;br /&gt;
&lt;br /&gt;
Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&amp;rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.&lt;br /&gt;
&lt;br /&gt;
Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more.
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Hindu Business Line, 24 February, 2017, http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&#039;,
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-PTI

&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;

Washington: India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly...&#039;
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-PTI

&ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&rdquo;

Washington: India&rsquo;s demonetisation led to huge cash shortages that have &ldquo;adversely affected&rdquo; consumption and like a &ldquo;vacuum cleaner&rdquo; it sucked in cash and then was slowly..."/>
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                <strong>Demonetisation sucked in cash like vacuum cleaner: IMF</strong></h1>
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                <div align="justify">-PTI<br /><br /><em>&ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&rdquo;<br /><br />Washington: </em>India&rsquo;s demonetisation led to huge cash shortages that have &ldquo;adversely affected&rdquo; consumption and like a &ldquo;vacuum cleaner&rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.<br /><br />&ldquo;You&rsquo;ve heard about so-called &lsquo;helicopter drops&rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&rdquo; Paul A Cashin, Assistant Director in the IMF&rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.<br /><br />&ldquo;It&rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&rsquo;s led to a lot of cash shortages that have adversely affected consumption,&rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.<br /><br />Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.<br /><br />&ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&rdquo; the IMF said.<br /><br />IMF said the repercussions from India&rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.<br /><br />Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.<br /><br />&ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.<br /><br />Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.<br /><br />Please <a href="http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true" title="http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true">click here</a> to read more.</div>               </font>
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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Washington: &lt;/em&gt;India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;You&amp;rsquo;ve heard about so-called &amp;lsquo;helicopter drops&amp;rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&amp;rdquo; Paul A Cashin, Assistant Director in the IMF&amp;rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&amp;rsquo;s led to a lot of cash shortages that have adversely affected consumption,&amp;rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.&lt;br /&gt;
&lt;br /&gt;
Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&amp;rdquo; the IMF said.&lt;br /&gt;
&lt;br /&gt;
IMF said the repercussions from India&amp;rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.&lt;br /&gt;
&lt;br /&gt;
Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&amp;rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.&lt;br /&gt;
&lt;br /&gt;
Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more.
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;The Hindu Business Line, 24 February, 2017, http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&#039;,
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-PTI

&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;

Washington: India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-PTI&lt;br /&gt;&lt;br /&gt;&lt;em&gt;&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Washington: &lt;/em&gt;India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;You&amp;rsquo;ve heard about so-called &amp;lsquo;helicopter drops&amp;rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&amp;rdquo; Paul A Cashin, Assistant Director in the IMF&amp;rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;It&amp;rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&amp;rsquo;s led to a lot of cash shortages that have adversely affected consumption,&amp;rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.&lt;br /&gt;&lt;br /&gt;Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&amp;rdquo; the IMF said.&lt;br /&gt;&lt;br /&gt;IMF said the repercussions from India&amp;rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.&lt;br /&gt;&lt;br /&gt;Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&amp;rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.&lt;br /&gt;&lt;br /&gt;Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot; title=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more.&lt;/div&gt;&#039;,
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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Washington: &lt;/em&gt;India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;You&amp;rsquo;ve heard about so-called &amp;lsquo;helicopter drops&amp;rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&amp;rdquo; Paul A Cashin, Assistant Director in the IMF&amp;rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&amp;rsquo;s led to a lot of cash shortages that have adversely affected consumption,&amp;rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.&lt;br /&gt;
&lt;br /&gt;
Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&amp;rdquo; the IMF said.&lt;br /&gt;
&lt;br /&gt;
IMF said the repercussions from India&amp;rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.&lt;br /&gt;
&lt;br /&gt;
Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&amp;rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.&lt;br /&gt;
&lt;br /&gt;
Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more.
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Hindu Business Line, 24 February, 2017, http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&#039;,
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-PTI

&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;

Washington: India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly...&#039;
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-PTI

&ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&rdquo;

Washington: India&rsquo;s demonetisation led to huge cash shortages that have &ldquo;adversely affected&rdquo; consumption and like a &ldquo;vacuum cleaner&rdquo; it sucked in cash and then was slowly..."/>
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                <strong>Demonetisation sucked in cash like vacuum cleaner: IMF</strong></h1>
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                <div align="justify">-PTI<br /><br /><em>&ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&rdquo;<br /><br />Washington: </em>India&rsquo;s demonetisation led to huge cash shortages that have &ldquo;adversely affected&rdquo; consumption and like a &ldquo;vacuum cleaner&rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.<br /><br />&ldquo;You&rsquo;ve heard about so-called &lsquo;helicopter drops&rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&rdquo; Paul A Cashin, Assistant Director in the IMF&rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.<br /><br />&ldquo;It&rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&rsquo;s led to a lot of cash shortages that have adversely affected consumption,&rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.<br /><br />Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.<br /><br />&ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&rdquo; the IMF said.<br /><br />IMF said the repercussions from India&rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.<br /><br />Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.<br /><br />&ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.<br /><br />Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.<br /><br />Please <a href="http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true" title="http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true">click here</a> to read more.</div>               </font>
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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Washington: &lt;/em&gt;India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;You&amp;rsquo;ve heard about so-called &amp;lsquo;helicopter drops&amp;rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&amp;rdquo; Paul A Cashin, Assistant Director in the IMF&amp;rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&amp;rsquo;s led to a lot of cash shortages that have adversely affected consumption,&amp;rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.&lt;br /&gt;
&lt;br /&gt;
Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&amp;rdquo; the IMF said.&lt;br /&gt;
&lt;br /&gt;
IMF said the repercussions from India&amp;rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.&lt;br /&gt;
&lt;br /&gt;
Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&amp;rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.&lt;br /&gt;
&lt;br /&gt;
Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more.
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-PTI

&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;

Washington: India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-PTI&lt;br /&gt;&lt;br /&gt;&lt;em&gt;&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Washington: &lt;/em&gt;India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;You&amp;rsquo;ve heard about so-called &amp;lsquo;helicopter drops&amp;rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&amp;rdquo; Paul A Cashin, Assistant Director in the IMF&amp;rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;It&amp;rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&amp;rsquo;s led to a lot of cash shortages that have adversely affected consumption,&amp;rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.&lt;br /&gt;&lt;br /&gt;Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&amp;rdquo; the IMF said.&lt;br /&gt;&lt;br /&gt;IMF said the repercussions from India&amp;rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.&lt;br /&gt;&lt;br /&gt;Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&amp;rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.&lt;br /&gt;&lt;br /&gt;Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot; title=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more.&lt;/div&gt;&#039;,
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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Washington: &lt;/em&gt;India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;You&amp;rsquo;ve heard about so-called &amp;lsquo;helicopter drops&amp;rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&amp;rdquo; Paul A Cashin, Assistant Director in the IMF&amp;rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;It&amp;rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&amp;rsquo;s led to a lot of cash shortages that have adversely affected consumption,&amp;rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.&lt;br /&gt;
&lt;br /&gt;
Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&amp;rdquo; the IMF said.&lt;br /&gt;
&lt;br /&gt;
IMF said the repercussions from India&amp;rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.&lt;br /&gt;
&lt;br /&gt;
Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&amp;rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.&lt;br /&gt;
&lt;br /&gt;
Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true&quot;&gt;click here&lt;/a&gt; to read more.
&lt;/div&gt;&#039;,
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-PTI

&amp;ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&amp;rdquo;

Washington: India&amp;rsquo;s demonetisation led to huge cash shortages that have &amp;ldquo;adversely affected&amp;rdquo; consumption and like a &amp;ldquo;vacuum cleaner&amp;rdquo; it sucked in cash and then was slowly...&#039;
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&ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&rdquo;

Washington: India&rsquo;s demonetisation led to huge cash shortages that have &ldquo;adversely affected&rdquo; consumption and like a &ldquo;vacuum cleaner&rdquo; it sucked in cash and then was slowly..."/>
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                <strong>Demonetisation sucked in cash like vacuum cleaner: IMF</strong></h1>
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                <div align="justify">-PTI<br /><br /><em>&ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&rdquo;<br /><br />Washington: </em>India&rsquo;s demonetisation led to huge cash shortages that have &ldquo;adversely affected&rdquo; consumption and like a &ldquo;vacuum cleaner&rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.<br /><br />&ldquo;You&rsquo;ve heard about so-called &lsquo;helicopter drops&rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&rdquo; Paul A Cashin, Assistant Director in the IMF&rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.<br /><br />&ldquo;It&rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&rsquo;s led to a lot of cash shortages that have adversely affected consumption,&rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.<br /><br />Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.<br /><br />&ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&rdquo; the IMF said.<br /><br />IMF said the repercussions from India&rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.<br /><br />Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.<br /><br />&ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.<br /><br />Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.<br /><br />Please <a href="http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true" title="http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true">click here</a> to read more.</div>               </font>
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-PTI<br />
<br />
<em>&ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&rdquo;<br />
<br />
Washington: </em>India&rsquo;s demonetisation led to huge cash shortages that have &ldquo;adversely affected&rdquo; consumption and like a &ldquo;vacuum cleaner&rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.<br />
<br />
&ldquo;You&rsquo;ve heard about so-called &lsquo;helicopter drops&rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&rdquo; Paul A Cashin, Assistant Director in the IMF&rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.<br />
<br />
&ldquo;It&rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&rsquo;s led to a lot of cash shortages that have adversely affected consumption,&rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.<br />
<br />
Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.<br />
<br />
&ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&rdquo; the IMF said.<br />
<br />
IMF said the repercussions from India&rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.<br />
<br />
Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.<br />
<br />
&ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.<br />
<br />
Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.<br />
<br />
Please <a href="http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true">click here</a> to read more.
</div>',
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-PTI

&ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&rdquo;

Washington: India&rsquo;s demonetisation led to huge cash shortages that have &ldquo;adversely affected&rdquo; consumption and like a &ldquo;vacuum cleaner&rdquo; it sucked in cash and then was slowly...',
	'disp' => '<div align="justify">-PTI<br /><br /><em>&ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&rdquo;<br /><br />Washington: </em>India&rsquo;s demonetisation led to huge cash shortages that have &ldquo;adversely affected&rdquo; consumption and like a &ldquo;vacuum cleaner&rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.<br /><br />&ldquo;You&rsquo;ve heard about so-called &lsquo;helicopter drops&rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&rdquo; Paul A Cashin, Assistant Director in the IMF&rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.<br /><br />&ldquo;It&rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&rsquo;s led to a lot of cash shortages that have adversely affected consumption,&rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.<br /><br />Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.<br /><br />&ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&rdquo; the IMF said.<br /><br />IMF said the repercussions from India&rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.<br /><br />Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.<br /><br />&ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.<br /><br />Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.<br /><br />Please <a href="http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true" title="http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true">click here</a> to read more.</div>',
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-PTI<br />
<br />
<em>&ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&rdquo;<br />
<br />
Washington: </em>India&rsquo;s demonetisation led to huge cash shortages that have &ldquo;adversely affected&rdquo; consumption and like a &ldquo;vacuum cleaner&rdquo; it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.<br />
<br />
&ldquo;You&rsquo;ve heard about so-called &lsquo;helicopter drops&rsquo; of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,&rdquo; Paul A Cashin, Assistant Director in the IMF&rsquo;s Asia and Pacific Department, and mission chief of India, told PTI.<br />
<br />
&ldquo;It&rsquo;s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That&rsquo;s led to a lot of cash shortages that have adversely affected consumption,&rdquo; Cashin said in response to a question as the IMF released its annual country-report on India.<br />
<br />
Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas.<br />
<br />
&ldquo;While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,&rdquo; the IMF said.<br />
<br />
IMF said the repercussions from India&rsquo;s currency exchange initiative will likely persist through the first quarter of 2017.<br />
<br />
Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative.<br />
<br />
&ldquo;These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,&rdquo; it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease.<br />
<br />
Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation.<br />
<br />
Please <a href="http://www.thehindubusinessline.com/economy/demonetisation-sucked-in-cash-like-vacuum-cleaner-imf/article9558988.ece?homepage=true">click here</a> to read more.
</div>',
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-PTI

&ldquo;Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.&rdquo;

Washington: India&rsquo;s demonetisation led to huge cash shortages that have &ldquo;adversely affected&rdquo; consumption and like a &ldquo;vacuum cleaner&rdquo; it sucked in cash and then was slowly...'
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Demonetisation sucked in cash like vacuum cleaner: IMF

-PTI “Repercussions from the currency exchange initiative will likely persist through the first quarter of 2017.” Washington: India’s demonetisation led to huge cash shortages that have “adversely affected” consumption and like a “vacuum cleaner” it sucked in cash and then was slowly replacing the currency, a senior IMF official has said. “You’ve heard about so-called ‘helicopter drops’ of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner,” Paul A Cashin, Assistant Director in the IMF’s Asia and Pacific Department, and mission chief of India, told PTI. “It’s sucking in cash, withdrawing it from the economy, and then the vacuum cleaner is going in reverse, slowly replacing cash but as I said, at a fairly modest pace. That’s led to a lot of cash shortages that have adversely affected consumption,” Cashin said in response to a question as the IMF released its annual country-report on India. Given the shortage of cash in the market, IMF in its report urged the Indian Government to continue to enhance the supply of new banknotes, and if needed consider extending or expanding targeted temporary exemptions, including on use of old banknotes, particularly for rural and remote areas. “While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative,” the IMF said. IMF said the repercussions from India’s currency exchange initiative will likely persist through the first quarter of 2017. Real GDP growth is projected to slow to 6.6 per cent in FY2016/17 and then rebound to 7.2 per cent in FY2017/18, due to temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative. “These effects are expected to gradually dissipate by March 2017 as cash shortages ease and would be offset by tailwinds from a favourable monsoon and low oil prices, and continued progress in resolving supply-side bottlenecks,” it said adding that consumer sentiment remains strong, which will support near-term growth recovery as cash shortages ease. Prime Minister Modi in November last year announced withdrawal of the legal tender of Rs. 500 and Rs. 1000 currency notes in circulation. This was replaced with a new series of Rs. 500 and Rs. 2000 currency notes, with an objective to unearth unaccounted wealth and eliminate counterfeit currencies from circulation. Please click here to read more.