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Has there been any studies of Modi’s allies’ cash flows. It would be interesting to see if there was an uptick in connected people converting rupees to real est
by RcouF1uZ4gsC 8y ago
Has there been any studies of Modi’s allies’ cash flows. It would be interesting to see if there was an uptick in connected people converting rupees to real estate, foreign currency, right before the cash crackdown was announced.
- Lazare 8y agoIt wouldn't be surprising, but since nobody rich seemed to have the slightest trouble converting cash after the crackdown either, it hardly matters. Central bank data shows 99.3% of the demonetized notes were exchanged; there was effectively zero "dirty" money destroyed via demonetization.
- shabda 8y agoThere was dirty money created by demonetizion. We have not yet accounted for 1. Cash in Bhutan and Nepal where indian currency was widely used. 2. NRIs who legally held INRs but the cost of exchange was too high 3. Residents who have loose cash lying around - under mattresses, long forgotten jeans and missed the deadline for exchange.
- axiom92 8y agoOf course, look at https://thewire.in/banking/bank-with-amit-shah-as-a-director-collected-highest-amount-of-banned-notes-among-dccbs-rti-reply https://thewire.in/banking/bank-with-amit-shah-as-a-director... for example.
- ravisutrave 8y agohttps://thewire.in/economy/mystery-demonetisation-rs-3-lakh-crore-deposits-15-days https://thewire.in/economy/mystery-demonetisation-rs-3-lakh-...