Post Demonetisation Black Money

The sudden move to ban high-value currency notes in 2016 was not a "jhatka" (shock) as people with black money were warned a year earlier, Prime Minister Narendra Modi said in an interview to news agency ANI on Tuesday, defending demonetisation.

In all of India's economic history, it's hard to find anything quite as indefensible as demonetisation. In fact, its irrationality is world-beating - Narendra Modi promised to put us on the world map, and he has - just not the way we expected.

Central Information Commission directs finance ministry to reply to a 1-year-old RTI seeking to know total black money collected post-demonetisation.

A former Congress MLA allegedly routed and laundered black money to the tune of over Rs 8 crore post demonetisation as part of his purported nexus with Delhi-based lawyer Rohit Tandon and others, an ED investigation has found.

The Enforcement Directorate is investigating over 3,700 cases of money laundering and hawala transactions, involving tainted assets worth Rs 9,935 crore, as part of its action against black money generated post demonetisation, an official report today said.

In the annals of economic experimentation, India's cash ban will stand out. Not because it was ill-advised, poorly executed or unsuccessful in achieving its original aims. Prime Minister Narendra Modi's move to outlaw 86 percent of his country's currency a year ago today was all those things. What made it remarkable, though, was the way it flew aga...

Black money worth Rs 4,900 crore was disclosed by 21,000 people under the Pradhan Mantri Garib Kalyan Yojna (PMGKY), the stash money declaration window announced by the government post demonetisation, an official said today.

In its annual report, the RBI had disclosed that almost 99% of the scrapped currency notes have come back into the system.

Vowing to continue the crackdown on black money, Prime Minister Narendra Modi today said that over Rs 1.75 lakh crore deposited in banks post note-ban and more than 18 lakh people with disproportionate income are under government scrutiny.

Fake Indian currency notes (FICN) of face value of over Rs 2.55 crore, the maximum being in Gujarat, have been seized along various international borders of the country post demonetisation, the government informed Parliament today.

In the second phase of 'Operation Clean Money' launched in April with an aim to detect black money generation post demonetisation, the I-T department has used information received under the Statement of Financial Transactions (SFT) from banks to identify additional cases.

"The idea that black money or wealth is held in the form of notes tucked away in suitcases of pillow cases is nave. And in any case, even those who are caught napping - or waiting - will have the chance to convert the notes through paid agents...But the gesture had to be made, and produced much work and little gain."

The Income Tax Department has launched a massive hunt for undeclared cash across the country post demonetisation.

The Income Tax department will investigate over 60,000 entities under the second phase of the 'Operation Clean Money' which was launched today with an aim to detect black money generation post demonetisation.

It was alleged that over Rs 8 crore were funnelled into the banking system by opening over 2,000 accounts post November 8 when old Rs 500 and Rs 1,000 notes were scrapped.

The sudden move to ban high-value currency notes in 2016 was not a "jhatka" (shock) as people with black money were warned a year earlier, Prime Minister Narendra Modi said in an interview to news agency ANI on Tuesday, defending demonetisation.

In all of India's economic history, it's hard to find anything quite as indefensible as demonetisation. In fact, its irrationality is world-beating - Narendra Modi promised to put us on the world map, and he has - just not the way we expected.

Central Information Commission directs finance ministry to reply to a 1-year-old RTI seeking to know total black money collected post-demonetisation.

A former Congress MLA allegedly routed and laundered black money to the tune of over Rs 8 crore post demonetisation as part of his purported nexus with Delhi-based lawyer Rohit Tandon and others, an ED investigation has found.

The Enforcement Directorate is investigating over 3,700 cases of money laundering and hawala transactions, involving tainted assets worth Rs 9,935 crore, as part of its action against black money generated post demonetisation, an official report today said.

In the annals of economic experimentation, India's cash ban will stand out. Not because it was ill-advised, poorly executed or unsuccessful in achieving its original aims. Prime Minister Narendra Modi's move to outlaw 86 percent of his country's currency a year ago today was all those things. What made it remarkable, though, was the way it flew aga...

Black money worth Rs 4,900 crore was disclosed by 21,000 people under the Pradhan Mantri Garib Kalyan Yojna (PMGKY), the stash money declaration window announced by the government post demonetisation, an official said today.

In its annual report, the RBI had disclosed that almost 99% of the scrapped currency notes have come back into the system.

Vowing to continue the crackdown on black money, Prime Minister Narendra Modi today said that over Rs 1.75 lakh crore deposited in banks post note-ban and more than 18 lakh people with disproportionate income are under government scrutiny.

Fake Indian currency notes (FICN) of face value of over Rs 2.55 crore, the maximum being in Gujarat, have been seized along various international borders of the country post demonetisation, the government informed Parliament today.

In the second phase of 'Operation Clean Money' launched in April with an aim to detect black money generation post demonetisation, the I-T department has used information received under the Statement of Financial Transactions (SFT) from banks to identify additional cases.

"The idea that black money or wealth is held in the form of notes tucked away in suitcases of pillow cases is nave. And in any case, even those who are caught napping - or waiting - will have the chance to convert the notes through paid agents...But the gesture had to be made, and produced much work and little gain."

The Income Tax Department has launched a massive hunt for undeclared cash across the country post demonetisation.

The Income Tax department will investigate over 60,000 entities under the second phase of the 'Operation Clean Money' which was launched today with an aim to detect black money generation post demonetisation.

It was alleged that over Rs 8 crore were funnelled into the banking system by opening over 2,000 accounts post November 8 when old Rs 500 and Rs 1,000 notes were scrapped.