Hacker News Reader

Comment by khrm | Hacker News Reader

When Modi announced it, he used Black Money under the garb of Black Money. Later on goal keep shifting. From damaging terrorist/Naxal money to digital transactions.

https://www.thehindu.com/opinion/editorial/shifting-goal-pos...

https://indianexpress.com/article/india/demonetisation-rbi-a...

https://economictimes.indiatimes.com/news/politics-and-natio...

View on HN

Amit Shah, right hand man of Indian PM Modi, was the director of the bank who got significant cash deposits after this ill thought out demonetization move. And worse, the news articles highlighting this have disappeared or have edited out Amit Shah’s name from all the major English newspapers. So much for media partiality in today’s India. Co-op banks were exempted, quite conveniently.

https://m.huffingtonpost.in/2018/06/22/amit-shahs-directorsh...

I could not get this logic. Can you explain more? problem would have been, if he got that money before demonetization, or he would have bought lands/gold, even then , if money comes in bank, "blackness" goes away, no?

Just few days before demo, huge huge amounts of cash was deposited in his managed loxal bank, & when demo was declared, as that money was already in bank's vault, it was safe. Also, the bank was type of Co-operative, kind of local credit union, these types of banks does not need to be interconnected between branches or with a central place, neither do they need to keep digitally timestamped records, manual book keeping on paper is allowed.

Well this is what the headline says.

Ahmedabad District Cooperative Bank received deposits worth Rs 745.59 cr soon "after" the policy was announced, according to an RTI reply.

Please check it is "after" the policy and not Just few days before demo as you claim

That's exactly what has happened, black money got converted to white with help of politicians like Amit Shah. This FT article touches on this aspect.

https://www.ft.com/content/7dbe0e14-8d8a-11e7-a352-e46f43c58...

Even if you remove Amit Shah from equation, you can say black money converted to white, by paying 30% tax.

Also BJP campaign in UP was less affected by demonetization than opponents’

Reply on news.ycombinator.com