4 ms·
You are right, I didn't read the link you posted because the moment I noticed livemint, I kind of jumped to respond (possibly due to my past experience with the
by photonwins 10y ago
You are right, I didn't read the link you posted because the moment I noticed livemint, I kind of jumped to respond (possibly due to my past experience with the articles on their website). However my point still holds, if RBI is not releasing the data how are these Bloomberg or any other entity getting their numbers?
I went through RBI's press release for December 2016 and didn't find anything stating the $220 billion deposits (as claimed by bloomberg).
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx
PS: I am not trying to argue for the sake of arguing, I really would like to know the numbers to apprise myself.
- denzil_correa 10y ago> if RBI is not releasing the data how are these Bloomberg or any other entity getting their numbers? The Bloomberg report is based on sources. For a moment, lets discard the Bloomberg reports and look at actual numbers from RBI. The data from RBI on December 13 shows that 80% of the demonetized currency was already back into the banks. RBI has not released data beyond that point of time. Based on a reasonable guesstimate, I would expect the final number to definitely touch 90% or above. Besides, we already know that unaccounted income in cash is 6% - so don't expect a number lesser than 90%.