Rs 1 8 Crore In Cash

Madhya Pradesh-based businessman Shankar Rai and his family in the state's Damoh district were raided on Friday and unaccounted cash worth over Rs 8 crore was recovered, the Income Tax Department has said.

Prime Minister Narendra Modi on November 8 had announced demonetisation of Rs 1,000 and Rs 500 notes valued at Rs 15.4 lakh crore

The cash deposits of Rs 100.57 crore in purported shell companies' accounts in Axis Bank's Memnagar branch in Ahmedabad were in violation of RBI notifications issued after November 8 last year, when the government, in a sudden move, scrapped Rs 1,000 and Rs 500 notes.

On November 8, the day Prime Minister Narendra Modi announced that Rs 100 and Rs 500 notes will be scrapped, the Reserve Bank had Rs 4.94 lakh crore in 2,000-rupee notes in its possession. This is roughly 30 per cent of the Rs 15.44 lakh crore that was circulating in 500 and 1,000 rupee notes at the time.

More than Rs 17 crore in cash, over 800 kg of ganja, one lakh litre of liquor and over 8 kg of gold have been seized by authorities in poll-bound Bihar so far as part of Election Commission's drive to curb attempts to influence voters.

Madhya Pradesh-based businessman Shankar Rai and his family in the state's Damoh district were raided on Friday and unaccounted cash worth over Rs 8 crore was recovered, the Income Tax Department has said.

Prime Minister Narendra Modi on November 8 had announced demonetisation of Rs 1,000 and Rs 500 notes valued at Rs 15.4 lakh crore

The cash deposits of Rs 100.57 crore in purported shell companies' accounts in Axis Bank's Memnagar branch in Ahmedabad were in violation of RBI notifications issued after November 8 last year, when the government, in a sudden move, scrapped Rs 1,000 and Rs 500 notes.

On November 8, the day Prime Minister Narendra Modi announced that Rs 100 and Rs 500 notes will be scrapped, the Reserve Bank had Rs 4.94 lakh crore in 2,000-rupee notes in its possession. This is roughly 30 per cent of the Rs 15.44 lakh crore that was circulating in 500 and 1,000 rupee notes at the time.

More than Rs 17 crore in cash, over 800 kg of ganja, one lakh litre of liquor and over 8 kg of gold have been seized by authorities in poll-bound Bihar so far as part of Election Commission's drive to curb attempts to influence voters.