did cause some temporary disruptions in economic activity, primarily, private consumption and small businesses, due to cash shortages.
"(But) the effects are dissipating," he said in response to a question.
"In the medium term, demonetisation could have possible effects, including through greater formalisation of and the information on economic activities and a more efficient payment system with a greater use of the banking system and digital payments," Murry said.
The IMF is slated to come out with an update of its projections of India's growth rate along with the rest of the world in January.
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