India's central bank has said that almost all of the notes banned during a crackdown on illegal cash in 2016 have come back into the banking system- raising questions about how successful the government was in cracking down on black money hoarders.
While announcing demonetisation, the Indian government had claimed that an estimated $780 billion of black money would be wiped out. However the Reserve Bank of India's report shows that only $1.5 billion was not recovered.
Our India correspondent Neha Poonia reports.
In: 'The Reserve Bank of...'
Out: SOC
Dur: 40 secs
While announcing demonetisation, the Indian government had claimed that an estimated $780 billion of black money would be wiped out. However the Reserve Bank of India's report shows that only $1.5 billion was not recovered.
Our India correspondent Neha Poonia reports.
In: 'The Reserve Bank of...'
Out: SOC
Dur: 40 secs