Well planned structured money laundering was carried out by our politicians before banning 500 and 1000 denomination currencies ...
Last year ( May 26 , 2015) RBI increased the slab for LRS "Liberalized remittence scheme" upto USD 250,000 which means an individual from India can transfer upto two crore rupee to their overseas account in a financial year ..
Before our PM came into the power the LRS limit was just 75,000 USD.
He was elected as prime minister on 26 May 2014, RBI Increased the LRS slab to 125,000 in very next month Modi come into the power I.e Jun 03 2014 and also they increased the slab to 250,000 USD second time on May 26 2015. Can someone explain why this increase was done gradually in two steps and what was the immediate compulsion to increase this LRS limit without bringing to any one's notice ?
Please refer below link for this LRS slab from RBI
Due to this increase in LRS slab, there was a sudden spurt in remittance since June 2015. Approximately 4.6 billion USD (30,000 Crore rupees) has been transferred from India in last 11 months. This sudden spike in remittance almost 300% higher than historical average remittance. There is no clear explanation from RBI for this sudden surge.
Read this below article from economic times stated this sudden surge on May 17 2016
After parcelling this enormous amount to overseas , now our politicians are playing anti corruption , anti counterfeit and anti black money drama by banning 500 and 1000 currencies ....
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