Demonetisation helped formalise savings: Study

The study was conducted by staff members of the Reserve Bank of India

Demonetisation may not have lead to a windfall for the government in monetary terms, but it has positively changed the way Indians save and use their excess fund, a staff study by the Reserve Bank of India (RBI) reveals. 

"An important positive impact of demonetisation has been to induce a shift towards formal channels of saving by households," the study, done by RBI staffers Manoranjan Dash, Bhupal Singh, Snehal Herwadkar and Rasmi Ranjan Behera has found. The study does not reflect RBI's official view, but was released on RBI website. 

The researchers found that during and after demonetisation period, there has been