Elephant bond is a rupee denominated bond. The funds raised from the issue of this bond will be exclusively used for infrastructure projects in India. As per estimates given by a high-level trade panel, India could recover $500 billion of black money stashed abroad. You can read about the Masala Bonds – Benefits, Features & Significance in the given link.
As per the panel report the elephant bonds would be a good avenue for people to bring back their undisclosed offshore wealth back to India without fear of prosecution.
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