Friday, December 16, 2016

16-12-2016 Update on Demonetization

Please revisit my blog post How to use any bonanza the Govt gets in which I had reported suggestions from Swaminathan Aiyar (SA) for utilizing the 3 Trillion Rupees he expected will be the Govt’s bonanza coming out of demonetization of high value currency notes. Now, the chances of getting 3 Trillion bonanza needs downsizing! I guess he must be re-working his calculations!

The thriller has 14 days more to run, and the climax scene is eagerly awaited. How many of the anti-social elements holding black money will burn their “invalid” notes? How many of them will make asses of the honest tax payers? Crooks are usually no idiots! Besides, many top politicians are willing to serve as their advisers and lawyers! 

RBI says Rs 12.44 Crores of banned currency has been deposited with banks. The Govt. thinks that the figure may be wrong because the banks may have mixed up deposits of valid currency as well while adding up the total. Visit

The following is the picture if the RBI figures are to be believed; the unit used for money is Rs. Trillions. (I don't talk to my wife anymore about 500 Rs. and 2000 Rs. It is always about Trillions!)  

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