Comment by denzil_correa | Hacker News Reader

Comment by denzil_correa | Hacker News Reader

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> I see, livemint's reputation for reporting facts is as dubious as nytimes. I say this because, livemint is owned by HT Media whose chairperson was a congress Rajyasabha (Upperhouse) MP.

I doubt you read the link I posted. The report was from Bloomberg not Livemint. Would you now discard that too based on another tenuous link?

https://www.bloomberg.com/news/articles/2017-01-04/india-sai...

> I would rather have some trust in the official RBI's figures

RBI has been unusually silent on this. As of December 10 (21 days before the final date), 80% of the demonetized currency was back into the banks [0]. So, even if you trust the RBI figures - don't keep your hopes high.

[0] http://timesofindia.indiatimes.com/business/india-business/8...

You are right, I didn't read the link you posted because the moment I noticed livemint, I kind of jumped to respond (possibly due to my past experience with the articles on their website). However my point still holds, if RBI is not releasing the data how are these Bloomberg or any other entity getting their numbers? I went through RBI's press release for December 2016 and didn't find anything stating the $220 billion deposits (as claimed by bloomberg).

https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx

PS: I am not trying to argue for the sake of arguing, I really would like to know the numbers to apprise myself.

> if RBI is not releasing the data how are these Bloomberg or any other entity getting their numbers?

The Bloomberg report is based on sources. For a moment, lets discard the Bloomberg reports and look at actual numbers from RBI. The data from RBI on December 13 shows that 80% of the demonetized currency was already back into the banks. RBI has not released data beyond that point of time. Based on a reasonable guesstimate, I would expect the final number to definitely touch 90% or above. Besides, we already know that unaccounted income in cash is 6% - so don't expect a number lesser than 90%.

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