India's growth forecast lowered to 6.9% over note ban: Fitch
Credit ratings agency Fitch Ratings on Tuesday lowered India's GDP growth forecast to 6.9% in the current fiscal from 7.4% following the government's decision to demonetise high-value currency. Economic activity will be hit due to the cash crunch created by withdrawal and replacement of bank notes that account for 86% of the value of currency in circulation, it stated.