In an interview to PTI, CII President Naushad Forbes also urged the government to increase weekly withdrawal limit for current accounts from Rs 50,000 at present to ensure adequate liquidity for businesses, acknowledging that the move has certainly created "serious inconvenience" for most people.
Government's move to demonetize higher denomination currency notes is bound to adversely impact the third quarter earnings of corporates, particularly those involved in retail trade, unless the cash crunch is alleviated by the month-end, industry body CII said today.
