Theres so many things that raise flags there.
Thats a non trivial percent of the missing cash, whihc is very unlikely to be in one place.
Kerala gets most of its money via remittances, the idea that they would be a store of cash, especially when most of people convert it into gold around India anyway, makes it extremely hard to accept just from the face of it
I agree, its a fairly non-trivial amount of money.
Total amount demonitized is 15.44 lak crore, 15.28 returned.
thats .16 lakh crore - or .16 * 100000 = 16000 crore missing.
and 5k of that is in Kerala.
It stretches my credulity.
There's this thing which goes by the name "Kunjalikutti fund" which isn't that trivial from what I heard ;)
If the govt wanted to lie, they would have put up better numbers - meaning a larger gap between money demonitized and money received.