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India's "mini-demonetisation", via the withdrawal of 2000-rupee currency notes, has no monetary policy implications but may have political motivations, said Jefferies' Chris Wood.
Senior Advocate Parag P Tripathi said RBI's decision to withdraw Rs 2,000 notes "is a pure nature of economic policy."
The government designated bullion dealers as ‘Reporting Entities’ to bring them under the Prevention of Money Laundering Act, 2002 (PMLA) and Unlawful Activities (Prevention) Act, 1967, mandating them to adhere to anti-money laundering (AML) standards, and combating proliferation financing obligations
CAIT on Friday said the Reserve Bank of India must set up a standard operating procedure for banks for deposit and exchange of Rs 2000 notes.
Senior Advocate Parag P Tripathi said RBI's decision to withdraw Rs 2,000 notes "is a pure nature of economic policy."