Re:India demonetisation fails to purge black money
by thisisit on Thursday August 31, 2017 @12:01PM
(#15141223)
That is assuming the whole stuff was done for the singular goal in mind. There could have been multiple reasons:
a. End counterfeit money b. Make a list of hoarders as everyone depositing money needed to show identification.
It is going to be interesting times ahead with the data they might have collected.
Yes - exactly - the assumption earlier was that a significant amount of money stored with the denominations that were de-monetised was "black"/unaccounted money. And this would not be deposited into banks due to fear of being scrutinized. If this had happened on a large scale and if the money had not been deposited - the liability of the exchequer would have reduced.