World Bank CEO lauds PM Modi's demonetisation move, says "What India has done will be studied by other countries"

Though in its first projection on India post-demonetisation, the World Bank lowered the country's GDP growth estimate for this fiscal to 7 per cent, from its earlier estimate of 7.6 per cent made in June last year, World Bank CEO Kristalina Georgieva on Thursday lauded PM Narendra Modi's demonetisation



move. "PM Modi's decision to ban high-value banknotes as part of efforts to stamp out corruption will have a profound and positive impact on India's economy," she told . "What India has done will be studied (by other countries). There hasn't been such demonetisation in a country so big," she further told .