Note ban may have affected CAD, Says SBI Research

Note ban may have affected CAD, says SBI Research

In the note ban quarter, the growth rate of inward remittance slipped to 56 percent from a high of 342 percent in the preceding quarter.

SBI Research has attributed the lower outward remittances and a massive jump in travel receipts, which bumped up the December quarter CAD, to the note ban impact that dominated the review period. “There are two distinct trends in the current account deficit (CAD) data print — lower outward remittances and higher travel receipts — and this could be attributed to note ban,” SBI Research said in a weekend note. ..Read More

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