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>I personally know many who stashed illegal unaccounted money in gunny bags, and have suffered a blow to their wealth (as I wished) I'm sorry, but the RBI data
by axiom92 8y ago
>I personally know many who stashed illegal unaccounted money in gunny bags, and have suffered a blow to their wealth (as I wished)
I'm sorry, but the RBI data counters precisely this point.
As you know, 99.3% of the cash has returned. Almost no one suffered any blow to their wealth in terms of "losing cash stuffed in gunny bags" as per the RBI; it's all back.
- calvinbhai 8y agoI believe the current govt and RBI are being dishonest (probably for the good of the country) and are lying about the 99.3%, because there are enough strong rumors that the earlier regime resulted in unaccounted duplicate numbered currency notes. Which means, even if banks received more than 100% of genuine notes back, they cannot report it saying so. And if that rumor is not true, then there is enough data to track how many in India became overnight lakhpatis (those with more than 100,000 in their account). Now if RBI has enough tech chops to crunch that data and keep an eye on it, they can easily find the top 1K or 10K evaders and go after them. Are they doing it? I'm not sure. But they have enough evidence in hand.