RBI's report on Demonetization:
The Reserve Bank of India has finally counted all the money received during Demonetization after 2years long gap.The RBI's report on PM's Demonetization is extremely shocking.
On November 8, 2016, Indian Prime Minister Narendra Modi suddenly announced that 500 and 1000 rupee notes are invalid and the people were given deadlines to exchange the notes for new ones.This was taken as an initiative to eradicate black money.
People stood in long queues to take money from ATMs.This existed for several months. It creates a big pressure on common layman.
Now, finally,RBI has finished counting all money withdrawn during the Demonetization period.As per the report of RBI, 99.3% of money has been collected.About 13000 crores money have not been returned among 15.31 lakh crores.The RBI, previously said in June 2017,that, 15.28 lakh crores have been returned. Whatever might the statement, demonetization is just an epic failure.
The Reserve Bank of India has finally counted all the money received during Demonetization after 2years long gap.The RBI's report on PM's Demonetization is extremely shocking.
On November 8, 2016, Indian Prime Minister Narendra Modi suddenly announced that 500 and 1000 rupee notes are invalid and the people were given deadlines to exchange the notes for new ones.This was taken as an initiative to eradicate black money.
People stood in long queues to take money from ATMs.This existed for several months. It creates a big pressure on common layman.
Now, finally,RBI has finished counting all money withdrawn during the Demonetization period.As per the report of RBI, 99.3% of money has been collected.About 13000 crores money have not been returned among 15.31 lakh crores.The RBI, previously said in June 2017,that, 15.28 lakh crores have been returned. Whatever might the statement, demonetization is just an epic failure.
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