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It is not in one place, but in the hands of different people. Hawala (https://en.wikipedia.org/wiki/Hawala https://en.wikipedia.org/wiki/Hawala) is very active
by knowThySelfx 9y ago
It is not in one place, but in the hands of different people. Hawala (https://en.wikipedia.org/wiki/Hawala https://en.wikipedia.org/wiki/Hawala) is very active in certain northern districts of Kerala.
I agree, its a fairly non-trivial amount of money.
- intended 9y agoHeh, even hawala couldnt account for those numbers. Total amount demonitized is 15.44 lak crore, 15.28 returned. thats .16 lakh crore - or .16 * 100000 = 16000 crore missing. and 5k of that is in Kerala. It stretches my credulity.
- knowThySelfx 9y agoEven I am not sure who is correct here. Either the guy is lying about the amount or the Govt is lying about amount received. Things aren't quite clear here. There's this thing which goes by the name "Kunjalikutti fund" which isn't that trivial from what I heard ;)
- intended 9y agoThe govt isnt lying - if they were the economy would lose altitude and correct at a much lower level - thered be no reason to keep faith in any of the govt numbers, and we would have moved much closer to banana republic status. If the govt wanted to lie, they would have put up better numbers - meaning a larger gap between money demonitized and money received.
- knowThySelfx 9y agoAn old report on Hawala: http://www.frontline.in/static/html/fl2123/stories/20041119002903301.htm http://www.frontline.in/static/html/fl2123/stories/200411190...