'Effects of demonetisation will disappear in medium term'
The World Bank has said the "adverse effects" of demonetisation in India will disappear in the medium term, saying any reform has short-term costs. However, the World Bank cut its estimates of India's growth rate in 2016-17 to 7% from the previous projection of 7.6%. An official also said that demonetisation will help in reducing the size of informal economy.