State Bank of India recently carried out a study, in which it observed several changes in Current Account Deficit (CAD). The Indian financing company alleges that the changes are due to demonetization. 

As per the reports, the changes in the CAD are due to the increase in the exports services, which in turn increased the net travel balances after demonetization. The report said, "Net travel has registered the incremental increase of $1,469 million in the quarter, which is an all-time high (at least since 2000-01)." 

As per the SBI research, "There are two distinct trends in the current account deficit (CAD) data print- lower outward remittances and higher travel receipts -- and this could be attributed to note ban."

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