The Reserve Bank India has admitted before a parliamentary panel that it has "no information" about how much of the black money has been wiped away from the Indian economy following demonetisation of Rs 500 and 1,000 notes back in November, nor about unaccounted cash legitimised through exchange of currency post note ban. Stating that an estimated Rs 15,280 crore in junked notes has come back "subject to future corrections based on verification process", ...
09-15-2017, 07:23 AM
RBI has no clue about how much black money note ban curbed
The Reserve Bank India has admitted before a parliamentary panel that it has "no information" about how much of the black money has been wiped away from the Indian economy following demonetisation of Rs 500 and 1,000 notes back in November, nor about unaccounted cash legitimised through exchange of currency post note ban. Stating that an estimated Rs 15,280 crore in junked notes has come back "subject to future corrections based on verification process", ...
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