Raghuram Rajan, the former Governor of the Reserve Bank of India has said

that the Narendra Modi government had never consulted the RBI during his
stint over the decision of demonetization.
The RBI revealed in its annual report that Rs 15.28 lakh crore, of the total Rs
15.44 lakh crore worth of currency notes in circulation, had been returned to
it(1%) after the demonetization drive, till June 30, 2017. excludes the currency
held in Nepal and at district co-operative banks. Source - Time of India. main
objective of forcing people with black money to suffer losses has failed
miserably- Source. I Do what I do by Raghuram Rajan.
India has US$1456 billion black money stored in Swiss banks,

1. Another problem is that majority of times this move is targeted towards black
money but if people have not kept cash as their black money and rotated or used
that money in other asset classes like real estate, gold and so on then there is no
guarantee that demonetization will help in catching corrupt people.

According to the data released by RBI, the cost of printing notes reached Rs
7,965 crore.- RBI data
the director of India's Central Bureau of Investigation said that Indians have US$500 billion of
illegal funds in foreign tax havens

The Top Corruption Scams in India:(All numbers in Indian Rupee) 1. Saradha Group
financial scandal - 40,000 Crore 2. Indian Coal Allocation Scam 1,86,000 Crore 3.
NHRM Scam- 10,000 Crore 4. Vyapam Scam - 6,700 Crore 5. 2G Spectrum Scam
1,76,000 Crore 6. Wakf Board Land Scam 1.50,000 Crore 7. Commonwealth Games
Scam 70,000 Crore 8. Telgi Scam 20,000 Crore 9. Satyam Scam 14,000 Crore 9.
Bofors Scam 100 to 200 Crore 10. The Fodder Scam 1,000 Crore 11. The Hawala
Scandal 100 Crore 12. Harshad Mehta & Ketan Parekh Stock Market Scam 5000
Crore Combined