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When Modi announced it, he used Black Money under the garb of Black Money. Later on goal keep shifting. From damaging terrorist/Naxal money to digital transacti
by khrm 8y ago
When Modi announced it, he used Black Money under the garb of Black Money. Later on goal keep shifting. From damaging terrorist/Naxal money to digital transactions.
https://www.thehindu.com/opinion/editorial/shifting-goal-posts/article19595787.ece https://www.thehindu.com/opinion/editorial/shifting-goal-pos...
https://indianexpress.com/article/india/demonetisation-rbi-annual-report-arun-jaitley-pm-narendra-modi-as-money-flowed-back-in-how-goalposts-were-shifted-4821566/ https://indianexpress.com/article/india/demonetisation-rbi-a...
https://economictimes.indiatimes.com/news/politics-and-nation/demonetisation-cash-crunch-wreck-banks-economy-experts-activists/articleshow/63943907.cms https://economictimes.indiatimes.com/news/politics-and-natio...
- iamshs 8y agoAmit Shah, right hand man of Indian PM Modi, was the director of the bank who got significant cash deposits after this ill thought out demonetization move. And worse, the news articles highlighting this have disappeared or have edited out Amit Shah’s name from all the major English newspapers. So much for media partiality in today’s India. Co-op banks were exempted, quite conveniently. https://m.huffingtonpost.in/2018/06/22/amit-shahs-directorship-of-district-bank-with-most-demonetised-notes-raises-ethical-concerns-among-opposition-leaders_a_23465432/ https://m.huffingtonpost.in/2018/06/22/amit-shahs-directorsh...
- rv11 8y agoI could not get this logic. Can you explain more? problem would have been, if he got that money before demonetization, or he would have bought lands/gold, even then , if money comes in bank, "blackness" goes away, no?
- davchana 8y agoJust few days before demo, huge huge amounts of cash was deposited in his managed loxal bank, & when demo was declared, as that money was already in bank's vault, it was safe. Also, the bank was type of Co-operative, kind of local credit union, these types of banks does not need to be interconnected between branches or with a central place, neither do they need to keep digitally timestamped records, manual book keeping on paper is allowed.
- rv11 8y agoWell this is what the headline says. Ahmedabad District Cooperative Bank received deposits worth Rs 745.59 cr soon "after" the policy was announced, according to an RTI reply. Please check it is "after" the policy and not Just few days before demo as you claim
- iamshs 8y agoThat's exactly what has happened, black money got converted to white with help of politicians like Amit Shah. This FT article touches on this aspect. https://www.ft.com/content/7dbe0e14-8d8a-11e7-a352-e46f43c5825d https://www.ft.com/content/7dbe0e14-8d8a-11e7-a352-e46f43c58...
- rv11 8y agoEven if you remove Amit Shah from equation, you can say black money converted to white, by paying 30% tax.
- selimthegrim 8y agoAlso BJP campaign in UP was less affected by demonetization than opponents’