On demonetisation curbing the flow of black money — the minutes recorded the facts and figures given in the government’s White Paper on Black Money — the Board noted: “Most of the black money is held not in the form of cash but in the form of real sector assets such as gold or real-estate and… this move would not have a material impact on those assets.”
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On fake currency, the RBI Board noted that “while any incidence of counterfeiting is a concern, Rs 400 crore as a percentage of the total quantum of currency in circulation in the country is not very significant”.
Two years after demonetisation: Okaying note ban, RBI rejected govt claim on black money, fake notes
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On fake currency, the RBI Board noted that “while any incidence of counterfeiting is a concern, Rs 400 crore as a percentage of the total quantum of currency in circulation in the country is not very significant”.
Two years after demonetisation: Okaying note ban, RBI rejected govt claim on black money, fake notes
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