Black Money Conversion Into White Money

The Enforcement Directorate (ED) has registered a money laundering case in the alleged forging of a customer's identity to conduct huge illegal transactions in an Axis Bank branch in Noida for conversion of black funds into white post demonetisation.

Political outfits or NGOs used as leverage for conversion of black money into white should be discouraged, Union Minister Kiren Rijiju said, a day after Chief election commissioner Nasim Zaidi reportedly said these parties may be conduits to turn 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.

The proposed changes in the tax law was a "fraud" on the honest, aimed at "facilitating" the conversion of black money into white, Delhi Chief Minister Arvind Kejriwal today said, taking on the Prime Minister and Union Finance Minister.

Suspecting tax evasion of at least Rs 5,000-6,000 crore, the Securities and Exchange Board of India (Sebi) has clamped down on a large number of organised syndicates who had set up 'shops' to convert black money into legitimate-looking funds through the stock market platform.

The Enforcement Directorate (ED) has registered a money laundering case in the alleged forging of a customer's identity to conduct huge illegal transactions in an Axis Bank branch in Noida for conversion of black funds into white post demonetisation.

Political outfits or NGOs used as leverage for conversion of black money into white should be discouraged, Union Minister Kiren Rijiju said, a day after Chief election commissioner Nasim Zaidi reportedly said these parties may be conduits to turn 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.

The proposed changes in the tax law was a "fraud" on the honest, aimed at "facilitating" the conversion of black money into white, Delhi Chief Minister Arvind Kejriwal today said, taking on the Prime Minister and Union Finance Minister.

Suspecting tax evasion of at least Rs 5,000-6,000 crore, the Securities and Exchange Board of India (Sebi) has clamped down on a large number of organised syndicates who had set up 'shops' to convert black money into legitimate-looking funds through the stock market platform.