black-money

Last week, we had reported that Supreme Court has decided to hear a PIL against Govt. of India’s decision to abruptly ban Rs 500, Rs 1000 currency notes. Yesterday, while hearing the PIL, Supreme Court refused to stop this massive…

Income Tax Department’s scheme to furnish black money details is a massive hit, as Rs 65,250 crore of black money was declared by 64,275 individuals, thereby making it an average of Rs 1 crore, per individual. Ministry of Finance…

The issue of black money in India is no less than poverty or global warming - such is the impact that political parties promise retrieval of black money as a poll promise; and general citizens hold dharnas and protests to force Govt. to…

Campaign against black money is long and full of interesting stories. For instance, in the last 1970s, Indian Govt. withdrew Rs 5000 and Rs 10,000 currency notes to curb circulation of black money as transacting heavier amounts…

Definition: In India, Black money refers to funds earned on the black market, on which income and other taxes have not been paid. As per various estimates, more than $16.4 trillion of black money from India is stashed away in…

Finally, it seems that the new Modi Government will bring atleast some of the Black money back in India. On all accounts, the names of all the Black Money hoarders in Foreign Banks will make their way back into India. Do you know the…

On January 24th, 2014 Reserve Bank of India had announced that they will completely withdraw from circulation all banknotes of all denominations issued prior to 2005 and all citizens who have pre-2005 currency notes will get it exchanged…

While the news of scribbled currency being banned from Jan 2014, which was widely being spoken about was simply a rumour, this one if not. RBI has officially announced (read update as well) in a press release yesterday that after March…

According to a report by Global Financial Integrity, Corrupt Indians siphoned off Rs. 21 Lakh Crore Black Money from India to Foreign countries. See what could have been achieved with that kind of money

For the past few years we all have heard one topic being raised by social activists all over the country “Black Money stashed in Swiss banks runs into 50 lakh crores”. With some claiming the amount to be around 100 lakh crore and others…