Cash Inflow Due to Demonetisation Has Strengthened Banks: Jaitley

Jaitley said huge amount of money has come to the banking system, which will help the state exchequer.

Arun Jaitley. (Photo: Reuters)

Union Finance Minister Arun Jaitley on Tuesday said the demonetisation move allowed banks to accomplish deposits of huge amount of money that would help the government to undertake welfare measures.

Addressing the BJP parliamentary party meeting, Jaitley said as a result of demonetisation decision, "huge amount" of money has come to the banking system, which will help the state exchequer and the banking system.

Jaitley, the Leader of the House in the Rajya Sabha, said:

We took the opposition by surprise in the Rajya Sabha and said we we were ready for the debate immediately. Caught unawares now, the opposition has only changed their strategy and are running away from debate.

Video Editor: Ashutosh Bhardwaj