Financial Services Trends in Post-Demonetization India
Every country in its history experiences a few cataclysmic shifts which redefine 'the normal'. Though the jury is still out on the long term impact of PM Modi's decision to withdraw Rs.1,000 and Rs.500 notes from circulation, it can be said with certitude that post November 9th 2016, the operating model of India and its people has irreversibly changed.
India's banks are now flush with liquidity, the government has been pushing for digital payments, and there is reduction in inflation. But consumption has fallen, supply chains...