I differ from you Amar,
Please see extract below from CIC site
"Disclosure of funds
If you are carrying more than CDN $10,000, tell a Canadian official when you arrive in Canada. If you do not tell an official, you may be fined or put in prison. These funds could be in the form of:
Cash
Securities in bearer form (for example, stocks, bonds, debentures, treasury bills)
Negotiable instruments in bearer form (for example, bankers' drafts, cheques, travelers' cheques or money orders)
Find out more about your responsibilities to disclose funds either before you leave or once you arrive in Canada."
http://www.cic.gc.ca/english/newcomers/before-border.asp