Thiruvananthapuram : Citing there is more currency in circulation than before, finance minister Thomas Isaac observed that Centre’s demonetisation of high-value notes to induce digital transactions is not a success after all.
Isaac was speaking at the Assembly session here during the question hour.
He said while there was a surge in digital transactions shortly after the note-ban, the trend has been diminishing since.
Demonetisation hit the unorganized and construction sectors with at least two lakh small-scale industries and 10 lakh people rendered jobless all over the country, Isaac added.
In response to another query, the minister said “Kerala Bank” consolidating 14 district banks will be put up to resolve scant availability of loans post SBT-SBI merger.