The demonetisation of higher denomination currency notes in the country has met its objectives to a large extent as there’s no currency left in the country “without any address”, according to Union Minister for Commerce and Industry Nirmala Seetharaman.
Speaking at an interactive session with Young Ficci Ladies Organisation (YFLO) here on Saturday, the Union Minister said the measure had brought into circulation all legal tender available in the country and had increased liquidity of banks.
Improved liquidity
It was for the banking sector now to utilise the improved liquidity position to the larger benefit of the nation.
She explained that the Reserve Bank of India (RBI) was still working on how much money that was deposited in banks was accounted for and how much unaccounted.
Political decisions
Responding to a question whether she would play an active role in Tamil Nadu politics to fill the vacuum created by the death of J. Jayalalithaa, the Madurai-born BJP leader said: “I am happy where I am”.
On the impact of increase in paid maternity leave from 12 weeks to 26 weeks for women employees, the Union Minister felt that it should not deter employers from employing women and it should not be seen as counter-productive.
She stressed the need for women taking up more and more start-ups as their share stood only at 8% now.
The Union Minister also wanted more women to join politics.
