This is what Flipkart’s Sachin Bansal thinks about demonetisation

While lauding Prime Minister Narendra Modi’s demonetisation move, Flipkart’s Executive Chairman Sachin Bansal said more ground research and planning could have been done.

Bansal said the reaction to the sudden announcement was not anticipated wholly.

"Firstly we should appreciate it....the idea behind it is very good, thought behind it is very good and the intent is very good. I'm hoping that this is not just one of thing and we get to see more often such things in the future," said Bansal.

"I don't think this is going to be the only step, there will be more steps, there is real estate where black money exists, also political funding and stuffs like that.....," he said.

Adding that experts can anticipate things in advance, he said "bureaucrats in India do a great job in administration....but they lack subject matter expertise, and this being such a technically challenging problem...."

Since Prime Minister Narendra Modi announced demonetisation of notes on November 8, long queues are being witnessed at bank branches and ATMs in the country to withdraw money and exchange the demonetised notes.

Bansal also supported the idea of micro ATM to address the problems faced by people.