Business Medical Dialogues
    • facebook
    • twitter
    Login Register
    • facebook
    • twitter
    Login Register
    • Medical Dialogues
    • Speciality Dialogues
    • Education Dialogues
    • Medical Jobs
    • Medical Matrimony
    • MD Brand Connect
    Business Medical Dialogues
    • News
        • Financial Results
        • Hospitals & Diagnostics
        • IT / Health Venture
        • Implants / Devices
        • Insurance
        • Key Movement
        • Pharmaceuticals
        • Policy
        • Technology
        • pharma-news
    • blog
    LoginRegister
    Business Medical Dialogues
    LoginRegister
    • Home
    • News
      • Financial Results
      • Hospitals & Diagnostics
      • IT / Health Venture
      • Implants / Devices
      • Insurance
      • Key Movement
      • Pharmaceuticals
      • Policy
      • Technology
      • pharma-news
    • blog
    • Home
    • Latest News
    • Demonetisation to help...

    Demonetisation to help leapfrog to digital economy: Biocon CMD

    Written by supriya kashyap kashyap Published On 2016-11-26T11:52:20+05:30  |  Updated On 26 Nov 2016 11:52 AM IST
    Demonetisation to help leapfrog to digital economy: Biocon CMD

    Hyderabad : Biotech entrepreneur Kiran Mazumdar-Shaw has said the demonetisation of high-value currency notes is an opportunity to leapfrog into a digital cashless economy, even as she called for a effective monitoring to prevent accumulation of fresh black money.


    The CMD of Biocon Ltd, which was rated among the worlds top ten employers in the biotechnology industry by an international magazine recently, said she is confident that the demonetised currency would be replaced by the new notes reasonably soon.


    "The objectives of flushing out counterfeit currency, illicit funding of businesses and illicit activities including extremism and terrorism and havala transactions will certainly be achieved," Mazumdar-Shaw told PTI.


    Demonetisation would also serve to be a deterrent to corruption in the short-term. "However, what remains to be seen is for how long can we stave off the re-emergence of black money," she said.


    Stating that certain businesses would be temporarily affected, especially real estate and jewellery, among others, following the move, Mazumdar-Shaw said she is confident that agriculture and SMEs would recover.


    "Most importantly, I see this as an opportunity to leapfrog into a digital cashless economy," she said.


    On measures needed to prevent accumulation of fresh black money, Mazumdar-Shaw said: "Thats really what needs tracking and a strong monitoring strategy."


    Asked if she thought the move would make only a limited dent as those who have kept unaccounted money in the form of gold or real estate "escape", Mazumdar-Shaw said she does believe that the sudden and unexpected act of demonetisation would flush out significant illicit cash as not every thing would be invested in real estate and gold.


    "However, there is likely to be downward revision in real estate pricing and hopefully gold, which is good for the economy as it will spur purchasing power," she said.


    "Thats a concern I have as I am not convinced that corruption can be completely weeded out," she responded when asked if she thought corruption can be fully eliminated.


    "The mind-set has to shift. It is too deeply engraved in business practices," she added.


    On whether cash donations to political parties should stop, Mazumdar Shaw who was recently conferred with the highest French civil distinction Chevalier de la Legion dHonneur (Knight of the Legion of Honour)said: "No. In fact, we should make sure there is a complete transparency in political funding," adding, political parties should be brought under the ambit of RTI.

    BioconChevalier de la Legion dHonneurDemonetisationdigital economyfresh black moneyKiran Mazumdar Shawprevent accumulation
    Source : PTI

    Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd

    supriya kashyap kashyap
    supriya kashyap kashyap
      Show Full Article
      Next Story
      Similar Posts
      NO DATA FOUND

      Popular Stories

      • Email: info@medicaldialogues.in
      • Phone: 011 - 4372 0751

      Website Last Updated On : 13 Oct 2022 5:14 AM GMT
      Company
      • About Us
      • Contact Us
      • Our Team
      • Reach our Editor
      • Feedback
      • Submit Article
      Ads & Legal
      • Advertise
      • Advertise Policy
      • Terms and Conditions
      • Privacy Policy
      • Editorial Policy
      • Comments Policy
      • Disclamier
      Medical Dialogues is health news portal designed to update medical and healthcare professionals but does not limit/block other interested parties from accessing our general health content. The health content on Medical Dialogues and its subdomains is created and/or edited by our expert team, that includes doctors, healthcare researchers and scientific writers, who review all medical information to keep them in line with the latest evidence-based medical information and accepted health guidelines by established medical organisations of the world.

      Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription.Use of this site is subject to our terms of use, privacy policy, advertisement policy. You can check out disclaimers here. © 2025 Minerva Medical Treatment Pvt Ltd

      © 2025 - Medical Dialogues. All Rights Reserved.
      Powered By: Hocalwire
      X
      We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by continuing to use our site. To know more, see our Cookie Policy and Cookie Settings.Ok