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I 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 rum
by calvinbhai 8y ago
I 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.