Was Ambani aware of Modi’s demonetization scheme?

A message stating that Mukesh Ambani knew about Modi’s demonetisation scheme is going viral on Whatsapp. The message states that Ambani invested all his black money in his new Reliance Jio project and now he will be getting huge profit in terms of  white money in the year 2017.

Here is the screenshot of the message going viral:


But the facts prove something else. Here is what the facts say-

1. Reliance Jio has a loan of $4.9 bn which it raised via long term bonds for investment.
2. The investments started from Financial Year 2012 and the service was launched in 2016. To recover the money, the entity may take more than 5 years along with on-going capex.
3. It is the second largest tax paying company in India.

4. In India, there were only four people who were aware about the demonetization scheme. They were PM Modi, Finance Minister Arun Jaitley, RBI Governor Urjit Patel and Revenue Secretary Shashikant Das.

So friends, please do not be fooled by such messages. They are nothing but hoax which are devoid of facts. Urjit Patel was present in the board of Reliance and SBI both. He did not disclose any information to any company. 

One thought on “Was Ambani aware of Modi’s demonetization scheme?

  • November 11, 2016 at 3:39 pm

    Really good written stuff.
    Nyc article by the person.


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