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Hidustan Times (August 30)

2018/ 09/ 01 by jd in Global News

“Prime Minister Narendra Modi’s efforts to weed out black money through a ban on high-value currency notes haven’t yielded the desired results.” The Government estimated approximately one-third of the 15.4 trillion rupees in circulation on Nov. 8, 2016 “wouldn’t be returned to banks because it was stashed illegally to avoid tax.” In reality, 99.3% of the invalidated banknotes were returned. Only “107 billion rupees hasn’t yet been received by the Reserve Bank of India after the cash ban.”

 

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