The Reserve Bank of India’s drive to weed out pre-2005 currency notes does not appear to have helped flush out much black money from secret vaults as it shredded notes worth less than Rs 15,000 crore till June. Although the central bank had said while launching the exercise in January that it was aimed at reining in counterfeit notes, some experts also saw it as an effort to flush out black money. The value of notes collected and shredded as part of the drive in the first six months, however, make the exercise appear rather routine. RBI shredded 6.18 crore 1,000 rupee notes amounting to.............
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