Tag «Black Money»

RBI imposes curbs on old note deposits exceeding Rs 5,000

rbi to curb 500 rupee note

The Reserve Bank today imposed stiff restrictions on depositing more than Rs 5,000 in the scrapped Rs 500 and Rs 1,000 notes, mandating that it can be deposited only once per account till December 30, that too after explaining to bank officials the reasons for not having done that so far. Stipulating that restrictive conditions …

How much black money has come back? These figures will shock you

black money came back after demonetisation

It’s a rise of responsible citizen to build momentum against black money. Here are some indicators which shows how revenue collections increased by 252% in November 2016 as compared to November 2015. Revenue collection by cities witnesses significant rise as Responsible Citizens build momentum. Top 5 cities with maximum percentage increase in revenue collected compared …

People converting black money into white not to be spared

People converting black money into white

In a stern warning to black money hoarders, the Finance Ministry today said those indulging in money laundering activities and converting their ill-gotten money into white will not be spared as law-enforcement agencies are already chasing such trails. “Those indulging in or colluding with money laundering or converting black money into white will not be …

India can no longer live with black money: FM Arun Jaitley

India can no longer live with black money arun jaitley

As debate on demonetisation rages on across the nation, Finance Minister Arun Jaitley has changed his facebook cover photo which states that India can no longer live with black money. Integrity and ethical conduct are pre-requisites for the country’s development, he states. “India cannot afford to live with black money any longer. Honesty, integrity and …

SIT for limit on cash holding, bank reporting large deposits

sit for limit on cash holding

The Special Investigation Team (SIT) on black money has suggested the government put a limit on cash holding and also ask banks to report to the I-T department large cash deposits. The SIT has also recommended that cash deposits made by jewellers should be correlated with their sales and PAN number of jewellery buyers. In …