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Rohit pande , Have a view on many things but happy to thras Nov, 14 2016

Does anybody have authentic figures for money which entered banking system in months before demonetization


Is this relevant to this discussion.


What percentage of it can be explained by the pay commission.


Sameer Raza , Learning. Student forever. Nov, 15 2016


14 l crore in circulation in 500 and 1000 denomination,official figure.

40-50% is of this money is with middle and lower class, this amount will certainly go back to circulation

Watch this video by Dr. Jayaprakash Narayan  : Will Demonetization dramatically root out corruption & black money?



Nupur Agrawal , On a spiritual journey of solitude. Nov, 15 2016




Vivek Sharma , Pursuing Msc. Physics at IIT D Nov, 14 2016


It is supposedly 2lakh crore


Rohit pande , Have a view on many things but happy to thras Nov, 14 2016


Is this authentic ? How much of this is explained by the pay commission ? We should at least get some elements out of the equation of rhetoric and make them fact based. Its the difference between the 2 which may also be hoarders in the know.


Mayank Wadhwani , 4th year student at VIT university. Geek. Col Nov, 15 2016


Data has not been revealed and might still take some time.

But 200,000 cr seems like a possible number. Around 1,400,000 cr was in denomination of 500s and 1000s (http://www.indiaspend.com/cover-story/rs-14-lakh-cr-cash-junked-what-that-means-for-black-money-13911 )

It might not be a bad idea to assume that 50% of it was already in banks and 50% was in cash as rotation.

This leaves us with 700,000 cr.

Lets divide this in 3 fractions, one accountable money second not accountable but adjustable money: money deposited in relatives/servants accounts third money which will be burnt. If we even give last one the majority share, estimating first two to be less than 30% won't be a sensible idea.

Data has not been revealed and might still take some time.But 200,000 cr seems like a possible number. Around 1,400,000 cr was in denomination of 500s and 1000s (http://www.indiaspend.com/cover-story/rs-14-lakh-cr-cash-junked-what-that-means-for-black-money-13911 )It might not be a bad idea to assum


Rohit pande , Have a view on many things but happy to thras Nov, 15 2016


I am talking not about the money after demonetization, but the one in the months leading upto it. There must be accurate data on that. In fact to dispel any doubt on that count, government should come out and clarify the data and how and to what extent it is explained by the pay commission


Rajshekhar , student at BITS goa. I am here to learn. Nov, 15 2016


Is it not related to govt scheme of declaring assets before 31st sep and simply paying taxes without being questioned?


Rohit pande , Have a view on many things but happy to thras Nov, 15 2016


If that explains it, finance minister should present the data


It would not explain the October spike though.



Rajshekhar , student at BITS goa. I am here to learn. Nov, 15 2016


Money in swiss bank has fallen to 8k Cr, so 2 l Cr seems to be a bit over the top. Money owned by Indians in Swiss banks drops to record low of Rs 8,392 crore | The Indian Express