Swati Piramal gives the thumbs up to demonetisation

The government's demonetisation drive has received the thumbs up from an Indian corporate leader on the basis of feedback obtained in a rural region of the country.

Vice-Chairperson of healthcare major Piramal Enterprises Swati Piramal told BTVi channel in an interview that work involving the Piramal Foundation, of which she is the Director, took her and the entire board of the foundation to villages in Rajasthan in these times of demonetisation.

"Our entire Board went to villages in Rajasthan and talked to everybody on the impact of last month's decision to ban high-value notes," Piramal said.

"We found people largely happy, though they did complain about the large lines and shortage of currency," she said.

"Besides, there were other indicators. We found three, very loud celebratory weddings going on," Piramal added.

Describing the ongoing phase as a "very interesting time", she also said that Piramal Foundation is trying to aid the government's efforts by educating people about digital banking.

"We teach people about financial inclusion," she said.

Finance Minister Arun Jaitley earlier this month said that Indians have accepted the demonetisation decision and are cooperating in transforming the country's economy and society.

"People have been cooperating immensely with the demonetisation exercise and the country by-and-large has welcomed the decision," Jaitley said at an event here.

"I don't find any social unrest. The queues are by and large disciplined," he said, referring to the lines outside banks and ATMs after the November 8 announcement.

"If you ask the person standing in queue about demonetisation, he or she is likely to say -- 'I'm troubled, but am happy this decision has been taken'," Jaitley said.

--IANS

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