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All Scrapped Notes received by RBI aren't White!
By: Tupaki Desk | 31 Aug 2017 10:56 AM GMT
Reserve Bank of India (RBI) confirmed Rs 15.28 lakh crore of scrapped notes came back into the banking system by July 30th this year after the launch of demonetisation. This gave an opportunity for Opposition Parties to judge Note Ban as a huge failure and conspiracy saying Centre unearthed only 1 percent (Rs 16,000 crore) black money.
Finance Minister Arun Jaitley clarified not all the money which returned to the banking system after demonetisation is legal/white. He assures benefits of Demonetisation could been seen in the long term and it's negative impact on GDP met the estimates. He hints the next move of Centre is to prevent the usage of black money in Elections.
Whereas, Indian Banking Sector is in crisis with bad loans to the tune of Rs 8 to 11 lakh crore. Arun Jaitley said a solution can't be found out overnight but it's gonna take time.
Finance Minister Arun Jaitley clarified not all the money which returned to the banking system after demonetisation is legal/white. He assures benefits of Demonetisation could been seen in the long term and it's negative impact on GDP met the estimates. He hints the next move of Centre is to prevent the usage of black money in Elections.
Whereas, Indian Banking Sector is in crisis with bad loans to the tune of Rs 8 to 11 lakh crore. Arun Jaitley said a solution can't be found out overnight but it's gonna take time.
