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Rs 3,35,000 cr of black money may be wiped out in demonetisation drive

This step by the government is a death blow to the cash component of black money, said a Think Tank

IANS  |  New Delhi 

The surprise demonetisation of high value denomination currency may lead to likely destruction of banknotes worth over Rs 3,35,000 crore while new notes worth Rs 1,34,000 crore may be added to the banking system, a leading think tank said on Friday. "This step by the government is a death blow to the cash component of black money in India," Imagindia Institute President Robinder Sachdev said. "Over $50 billion (Rs 3,35,000 crore) of illegitimate cash will be destroyed, and over $20 billion (Rs 1,34,000 crore) of legitimate cash will enter banking channels to become ...

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Rs 3,35,000 cr of black money may be wiped out in demonetisation drive

This step by the government is a death blow to the cash component of black money, said a Think Tank

This step by the government is a death blow to the cash component of black money, said a Think Tank The surprise demonetisation of high value denomination currency may lead to likely destruction of banknotes worth over Rs 3,35,000 crore while new notes worth Rs 1,34,000 crore may be added to the banking system, a leading think tank said on Friday. "This step by the government is a death blow to the cash component of black money in India," Imagindia Institute President Robinder Sachdev said. "Over $50 billion (Rs 3,35,000 crore) of illegitimate cash will be destroyed, and over $20 billion (Rs 1,34,000 crore) of legitimate cash will enter banking channels to become ... image
Business Standard
177 22

Rs 3,35,000 cr of black money may be wiped out in demonetisation drive

This step by the government is a death blow to the cash component of black money, said a Think Tank

The surprise demonetisation of high value denomination currency may lead to likely destruction of banknotes worth over Rs 3,35,000 crore while new notes worth Rs 1,34,000 crore may be added to the banking system, a leading think tank said on Friday. "This step by the government is a death blow to the cash component of black money in India," Imagindia Institute President Robinder Sachdev said. "Over $50 billion (Rs 3,35,000 crore) of illegitimate cash will be destroyed, and over $20 billion (Rs 1,34,000 crore) of legitimate cash will enter banking channels to become ...

image
Business Standard
177 22