Note Ban Reduced GDP Growth, Says World Bank

Demonetization in the third quarter of 2016-17 led to drop in GDP by 7.3% in districts dominated by informal activities, said a new World Bank policy research paper. The researchers used 2 methods: the intensity of light at evening and night to gauge economic activities and, estimated disruptions in Nepal and Afghanistan. As per papers, at the collective level, the decline in nightlight intensity lasted for 2 months only.