“If black money ends, the back of terrorism will break, corruption will end, fake currency will be out of circulation and the country will be on a new path of progress”
By making the same promise, on November 8, 2016, the Prime Minister of the country, Narendra Modi, announced demonetisation from eight o’clock in the night.
Suddenly the whole country stood in queues. At the time of demonetisation, the central government expected that at least Rs 3-4 lakh crore of black money deposited with the corrupt would come out. All the demonetisation exercise brought out 1.3 lakh crore black money, but now Rs 9.21 lakh crore is missing in the new Rs 500 and 2000 notes issued at the time of demonetisation.
This has been disclosed in the special report of Dainik Bhaskar. A special report by Dainik Bhaskar reveals the disappearance of demonetisation and new notes.
The annual reports of the Reserve Bank of India from 2016-17 to the latest 2021-22 show that the RBI had printed a total of 6,849 crore currency notes of 500 to 2000 since 2016 till now. Of them, more than 1,680 crore currency notes are missing from circulation.
The value of the missing notes is Rs 9.21 lakh crore. These missing notes do not include those notes which have been destroyed after being damaged.
By law, the amount on which no tax has been paid is considered as black money. Now this Rs 9.21 lakh crore can also include savings deposited in people’s homes. But out of the black money being caught in raids across the country, more than 95 percent were 500 and 2000 notes.
Bhaskar’s report wrote that the RBI official, on the condition of anonymity, admitted that the money missing from circulation may not be officially considered black money, but the fear is high that a large part of this amount is black money.
The government may not believe that 500 or 2000 notes are deposited as black money, but officials believe that the most used in depositing black money is the use of large denominations i.e. 500 and 2000 notes.
And it is believed that for this reason the printing of 2000 notes has been stopped from 2019. But the reality is that the printing of new 500 notes has increased by 76 percent as compared to 2016.
Experts believe that the cash deposited in this way in homes is only 2-3 percent of black money. The 2018 report on the black money of Indians deposited in Swiss banks raises the possibility that the amount of 9.21 lakh crore missing from the circulation may be black money.
According to this report, the black money of Indians in Swiss banks is 300 lakh crores, which is only 3 percent of this amount to 9 lakh crores.
It was being claimed that it is not possible to make counterfeit currency of the new design notes, but it did not happen.
The year the new design notes were issued, the same year counterfeit notes also came in the market. In 2016 itself, RBI got 638 fake notes of 2000 and 1999 of 500. 79836 of 2000 and 1.81 lakh counterfeit notes of 500 have been found in 6 years.
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