Prime Minister Narendra Modi scrapped Rs 500 and Rs 1,000 banknotes on November 8 in a bid to flush out cash earned through illegal activities, or earned legally but never disclosed.
Fitch said there has been a rapid build-up of private sector debt - both corporates as well as households - in a number of APAC economies since 2009.
The SBI report said that "there is possibility of double-counting of money deposited in the banks on various accounts".
The RBI surprised with a status quo on policy, premised on upside risk to January-March quarter inflation and limited transient growth drag owing to demonetisation.
Mr Dattatreya on Wednesday met Finance Minister Arun Jaitley and urged him to issue more and more lower denomination notes - Rs 10, Rs 20, Rs 50 and Rs 100) in large numbers, as this will be beneficial to the large number of workers, the Labour Ministry said.
The Monetary Policy Committee unanimously voted to leave the policy rates of repo and reverse repo unchanged at 6.25 per and 5.75 per cent, respectively.
In its fifth bi-monthly monetary policy review, the RBI on Wednesday kept its benchmark interest rate unchanged at 6.25 per cent.
Under a new lending rate regime effective from April 1 this year, banks price their lending rates based on marginal cost of lending rate, which is closely linked to the actual deposit rates.
Officials said multiple teams of the Enforcement Directorate (ED) swooped early morning at over 50 branches of at least ten banks.
There were calls for a rate cut as an intense cash shortage threatens to slam the brakes on the world's fastest growing major economy.
The Reserve Bank of India in its first monetary policy review after the notes ban kept its repo rate unchanged at 6.25 per cent, surprising the Street.
Banks have already placed orders for 6lakh Point-of-Sale machines and another 4 lakh are likely to be ordered.
Due diligence would mean ensuring genuineness of thetransaction, verification of the signature and identity
Most economists believe the RBI will follow a 25 basis points rate cut on Wednesday with at least one easing next year after the scrapping of high-value bank notes severely curbed consumer demand.
MSS bonds are issued with the objective of providing the central bank with a stock of securities with which it can intervene in the market for managing liquidity.