Two study reports published by the Reserve Bank of India (RBI) said that after the ban, people are investing their savings in mutual funds and other financial measures.
According to the first report, after the ban on bank, there was a lot of cash accumulated in banks, due to which the interest rates decreased. After this, people turned towards Mutual Fund, Life Insurance and Non-Banking Finance Companies for better returns. That is why it increased by 14.5% in 2016-17.
According to the first report, after the ban on bank, there was a lot of cash accumulated in banks, due to which the interest rates decreased. After this, people turned towards Mutual Fund, Life Insurance and Non-Banking Finance Companies for better returns. That is why it increased by 14.5% in 2016-17.
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