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Demonetisation effects in India to disappear in medium term: World Bank

The World Bank today said that the "adverse effects" of demonetisation in India will disappear in the medium term, saying any reform has short-term costs.  "Any reform has short-term costs but ultimately reforms will bring long-term gains. In the case of India, we expect whatever the adverse effects of these changing of notes to basically disappear in the medium term," Ayhan Kose, Director of Development Prospects Group at the World Bank told reporters during a conference call.

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