Tag Archives: black money

Corrupt Bank Officials Divert Crores of New Currency, Weaken Demonetisation

Ironic but the Indian government’s motive to replace black money with white has reached its peak with series of IT raids revealing the nexus between corrupt bank officials who have diverted new currency to their favourite customers to replace their black money. On the paper, on TV, on social media, Prime Minister Narendra Modi has been defending the most-appreciated move ...

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Demonetisation: Ministry Thanks Banks Which Failed People, Diverted New Notes to Black Money Holders

The Finance Ministry has appreciated the role played by the banks post-demonetisation especially when the old currency was accepted and till 24th November, 2016, when exchange of old currency to specified limit was also permitted, despite the fact that crores of new currency notes were diverted by corrupt bank officials and IT raids have made it clear that the demonetisation ...

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Post-Demonetisation, Swift IT Raids Greet 400 Cases

Income Tax (IT) Department has carried out swift investigations in more than 400 cases since the de-monetization of old High Denomination (OHD) currency on 8th November, 2016. More than Rs. 130 Crore in cash and jewellery has been seized and approximately Rs.2000 Crore of undisclosed income has been admitted by the taxpayers, said a statement. Detecting serious irregularities beyond the ...

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RBI Cracks Whip on Jan Dhan Yojana Bank Accounts, Now it Takes 2 Years to Get Back Rs.2 Lakh Deposited

As Jan Dhan Yojana accounts meant for the unbanked rural people came under the black money purview with mysterious increase of 60% after demonetisation amounting to Rs.72,834 crore worth deposits since Nov. 8. Now the Reserve Bank of India has cracked the whip limiting withdrawals in these accounts to Rs 10,000 per month. That too only fully KYC compliant holders ...

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Declaration of Undisclosed Black Money far less than what’s declared after Demonetisation

A total number of 64,275 declarants have made declaration of undisclosed income of Rs.65,250 crore under the Income Declaration Scheme, 2016, which is far less than what’s been unearthed in the form of legal declaration as deposits at around Rs.1 lakh crore in the last 14 days. Under the Income Declaration Scheme, 2016 the amount of tax, surcharge and penalty ...

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Angry at Demonetisation? Modi asks People to Say it in Opinion Poll

Amid long queues and opposition demand, Prime Minister Narendra Modi has invited views from the people directly on the recent decision taken by the Union Government regarding currency notes of Rs. 500 and Rs. 1000. People can submit their views through a survey consisting of 10 questions, which is available through the Narendra Modi App. sharing the link to this ...

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