You must Sign In to post a response.
  • Category: Miscellaneous

    These are the statistics of demonetization-where is black money?

    The total 500, 1000 currency notes banned accounts 15.4 lakhs crores. The exchanged notes reached to Banglore 11 lakhs crores till now. The CRR reserve notes estimated with banks is more than 4 lakhs crores. So it has crossed the exchange of old currency notes with new notes. Still one month time is there for exchange. If we count this also because of demonetization black money changed to white money or black money currency notes became useless? This is the editorial story given by TV9 Telugu News Channel today. If it is true, then is it the failure of government and the country is at a loss or not. Let us wait and see the result.
  • #585066
    The author should not arrive at the hasty conclusion that black money is not forth coming. The government gave second chance to the hoarders to declare there undisclosed income and get benefited with 50 percent discount. Some are waiting for further sops from the government. But what I presume that Indians are habituated to last minute decisions and from15th of Dec onward there would total hectic activities and the government can garner the whole black money. Meanwhile black money from abroad is also coming and we can arrive at exact statistics after 1st Jan2017.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #585073
    Mohan sir, If you study the statistics- it is clear that already the value of banned currency value it has reached. Few days back RBI itself has announced 9 lakhs core value banned currency it has received. previously a CRR reserve of 4 lakhs crores is with banks before banning . Even you take this statistics 13 lakhs crores it is coming out of 15.4 lakhs crores.

  • #585075
    Different people have different statistics. What is the exact statistics? No one is up to date with the currency notes. The accurate information will be known to RBI only. So, let us not go behind rumours. Wait until the end of this year to know the fact . However, the complete details about black money will be revealed after 31 March 2017. More than the currency notes, black money is lying with the individuals in the form of gold and land that need to be unearthed and brought to the open.

    Please feel that fake notes are dead and are not in ciruclation. And also the 500 and 1000 rupee currency notes lying dead with the unworthy elements of this country.

    No life without Sun ¤

  • #585134
    The statistics mentioned by author looks correct

    As per minister of state for finance Arjun Ram Meghwal in Rajya sabha, Rs 8.58 lakh crore in Rs 500 notes and Rs 6.86 lakh crore in Rs 1,000 (totally Rs 15.44 lakh crore ) were in circulation. As RBI statement on 28th Nov, Rs 8.45 lakh crore are deposited in banks after ban. CRR reserve in RBI is 4.06 lakh crore and cash in hand with bank on 8th Nov is 50, 000 crore. As on 28th Nov, Total amount of money which is not circulation in old notes are 13 lakhs crore(8.45 lakh crore + 4.06 lakh crore + 50000 crore). RBI expects that 2 laks crore or more will be deposited in another 30 days which is the deadline. So where is the black money? Either black money is already converted into white or it is not available in the form of Rs 500 / Rs 1000. God only knows what is going on.

    Thanks,
    Suresh.


This thread is locked for new responses. Please post your comments and questions as a separate thread.
If required, refer to the URL of this page in your new post.