The Reserve Bank of India’s withdrawal of INR2,000 ($27) bank notes is predicted to raise bank deposits by as much as INR2tn ($27bn), according to economists. “On a net basis, it is likely that deposits increase by INR1.5-2tn. Durable liquidity could increase by around INR1tn depending on the behaviour of depositors”, said Kotak Mahindra Bank economists Upasna Bhardwaj and Anurag Balajee. Critics point out that some INR2,000 notes may not be deposited as holders may be using them to avoid tax, buying high-end items such as gold instead.
Pharma stocks rally up to 4%, but will Trump order really have minimal impact?
The Nifty Pharma index gained around 2% on Tuesday, defying the broader market trend, as the Nifty slipped nearly 0.5% amid profit-booking following Monday’s sharp
May 13, 2025