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It wouldn't be surprising, but since nobody rich seemed to have the slightest trouble converting cash after the crackdown either, it hardly matters. Central ba
by Lazare 8y ago
It 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.