A- A A+

New Delhi: Speaking at the 8th edition of ‘Vibrant Gujarat Summit’ in Gandhinagar on Wednesday, Finance Minister Arun Jaitley talked about demonetisation and how it has ‘positively’ impacted the country.

With the Reserve Bank of India (RBI) now faced with the task of accounting for demonetised currency deposited in the last 2 months, the Finance Minister acknowledged that there were some difficult phases early in the passing of the demonetisation decision.

“India needs bold decisions, time now to clean up table. Difficult decisions initially pass through difficult phases,” said Jaitley.

Defending the government’s imposition of withdrawal limit on cash transactions from the bank, the Finance Minister said that paper currency has its own vices. 

Also Read: 25% increase in indirect tax collection: FM Arun Jaitley

“Excessive paper currency has its own vices, it leads to its own temptations,” he said.

Currently, the withdrawal limit on ATM transaction is Rs 4,500 while the weekly withdrawal limit has remained the same.