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Similarly, the export is undervalued for $50 and the remaining $50 is deposited by the foreign customer in the foreign bank account of the Indian supplier. An importer imports something for $100, gets the bill from the supplier for $150 and gets $50 deposited in the foreign bank.

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The possible inquiry of bank lockers and Benami or pseudonym property has also created panic. The Indian citizens deposited almost the entire currency that was scrapped during demonetization, shows data released by the RBI in its annual report. 1000 and Rs. 500 notes have been deposited in the banks.

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It is estimated that more than 15 Lakh crore of the demonized currency has arrived in the banks by 30th December 2016. According to Bloomberg more than 97% of the banned currency in the form of Rs.

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But in India, the currency would cease to have its value after 30th December. If you’re a true gamer and like to enjoy yourself, you will understand that both these things have different advantages over the other and it simply comes down to which advantages you would like to have.

P. Chidambaram, the former Finance Minister said that the GDP would go down more than the estimates given by the Indian Government.

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He said that both the and Statistical Department have acknowledged the decrease in GDP due to demonetization. Some have started converting their cash into foreign currency or bitcoins. The demonetization should have been executed by closing the Indian economy from all sides.

Arvind Pangahria, the Vice Chairman of Policy Commission is of the opinion that the adverse effects of demonetization on the economy would be recovered in the first two quarters of the next financial year 2017-18. He said that the decline in the growth rate in the last quarter 2015-16, i.e., after the demonetization would be recovered in next financial year.

This effort to change the Indian culture and its economy in a single stretch is impracticable. The so-called surgical strikes on black money will send the Indian money overseas.

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Demonetization would not end the black money, as the higher taxation system generates it. Right now, I still need to fix one of my scripts to make my scoring system run differently.

Before finalizing upon a loan scheme it is always a good idea to get in contact with a reliable and expert lender who can guide you in the right direction. They are avoiding keeping their money in the banks, as they failed to get their own money when it was badly needed during hospitalization, marriage, daily expenses and other needs.