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Demonetization had no effect on black money: Ex EC Chief Om Prakash Rawat

Nabanita Dutta

News Editor

Former Chief Election Commissioner Om Prakash Rawat has said that more money was seized during elections held post-demonetization than before. He thought that demonetization was conceived to reduce the misuse of money during elections but in reality, it did not affect that at all and in fact more money was seized from the same states. According to RBI, 99.3% of demonetized notes returned to the banks.