-MoneyControl.com The Narendra Modi government expected demonetisation to extinguish at least Rs 3-4 lakh crore of black money. However, RBI data show that 99% of the money that was invalidated came into the banking system. Meanwhile fresh seizures of black money continue. On November 8, 2016, Prime Minister Narendra Modi appeared on national television and said that all Rs 500 and Rs 1,000 notes would become invalid at midnight. The announcement at...
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Demonetisation: A circus, clowns and a silver bullet -James Wilson
-National Herald Five years after the disastrous demonetisation, the Prime Minister and his Finance Minister—even the fawning media— no longer speak of the ‘Demonetisation Dividend’. There has been none Two years back, on November 8, at around 8.30 pm, the Prime Minister of India, with his characteristic love for drama, unleashed on the country what he had then claimed was the one silver bullet which would eliminate the triple evils of black...
More »So easy to copy? Rs 2,000 notes make 56% of all seized Fake Currency, shows NCRB data -Mukesh Rawat
-IndiaToday.in NCRB data show fake notes of Rs 2,000 entered the market days after PM Narendra Modi's demonetisation announcement. Today they are the biggest contributors to the value of seized counterfeit currency in India. "In a country's history, there come moments when every person feels he too should be part of that moment, that he too should make his contribution to the country's progress. Such moments come but rarely," said Prime Minister...
More »Fake banknotes seized in India doubled after demonetisation, Gujarat topped list: NCRB -Apoorva Mandhani and Aneesha Bedi
-ThePrint.in National Crime Records Bureau’s report for 2017 says new Rs 2,000 note, released after demonetisation, accounted for more than half the seized currency. New Delhi: Fake Indian currency notes worth Rs 28.1 crore were seized in 2017, almost doubling from the previous year’s mark of Rs 15.9 crore, according to the Crime in India-2017 report put together by the National Crime Records Bureau (NCRB). The report points out that the new Rs...
More »Fake 500 rupee notes up 121% in 2018-19, says RBI
-PTI * Counterfeiting of the newly-designed ?2,000 notes shot by 21.9% in 2018-19 in comparison to the previous year, the RBI said * RBI said that counterfeit notes detected in the denomination of ?100 declined by 7.5% New Delhi: Counterfeiting of the newly-designed Rs.500 notes shot up by 121 per cent and of the Rs.2,000 notes by 21.9 per cent in 2018-19 in comparison to the previous year, the RBI said on Thursday. Of...
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