RBI Informs: No Data on Black Money Recover By Demonetisation of Note

RBI Informs: No Data on Black Money Recover By Demonetisation of Note:-In November 2016 the Demonetisation of Rs 500 and Rs 1000 notes hit india and Now it shows impact on the Indian GDP Growth after hit that is 3 years low. Now recently a great news has been announced that everyone has to worry. RBI recently gives information about that there is no data available for how much black money is recovered through the note ban strategy.

RBI Stating that approximate Rs 15.28 lakh crore junked notes has retrieved “Subject to future correction on the basis of verification process”.  Reserve Bank of India said they don’t have any information regarding whether the demonetisation process is planned to implement on the regular intervals.

RBI Informs: No Data on Black Money Recover By Demonetisation of Note

On July 12 a Sixteen Page reply of the questions asked by the team members of Parliament Standing Committee on finance organized by M Veerappa. Reserve Bank of India also said that the subject to the completion of verification procedure. This process will get back the currency banknotes of worth value estimate Rs 15.28 trillion till the end of june 2017.

RBI also told that some of the specified bank notes  are still available in the currency and the worth value of these Specified Bank Notes received by currency chests has been credited in the banks on the basis of “said to contain”. These notes are in processing by the Reserve Bank of India for the numerical accuracy & authentication, only the estimation of Specified Bank Notes are possible “, said by the RBI.  The Submission made before the releasing of annual report of RBI in the last week.

For the Demonetisation the RBI have been facing flak through the several opposition parties and delay in unveiling of accurate figures on the Junked currency notes. Even the government has planned to maintain the decision to ban Rs 500/1000 notes in running at that time on 8th November 2016 , that time helps in curbing the black money  among all other benefits.

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