Hide and seek game being played by government and money launderers
Lucknow : The black-money holders and the government seem to be playing hide and seek game . When one escape route found by them is sealed by the government, they try and find another. The game has been going on for the past one month, ever since Prime Minister Narendra Modi announced the demonetisation decision,
First, people in the north-east who have been granted tax exemption were used. When it was detected another way to convert black-money into white was found-- Jan-dhan account. Some private banks which were ready to help them were used when the Jan-dhan account came under lens.
Raids on banks and plugging of some other holes pushed them to two new areas-- cooperative banks and bank lockers. The government has now identified these areas too which are their latest finds.
From one bank locker alone currency notes of the total value of as much as Rs ten crores were seized on Thursday. Many notes stashed there were new ones which were obviously provided by some bank employees in violation of central bank order of not paying more than Rs 20,000 per head per week.
The latest official report says that some cooperative banks have been also used to convert black money into white. These banks are ruled by politicians and other bigwigs . It was for this reason that the government initially did not consider them good enough for exchange of old notes of Rs 500 and Rs 1000 which were banned from the midnight of November 8.
As far as the seizure is concerned, Karnataka tops the list with seizure of more than Rs ten crores. It has been followed by another southern state of Tamil Nadu. Delhi, Gujarat and Uttar Pradesh have not lagged much behind.What worries the government is that new Rs 2000 notes formed a good part of the unaccounted money seized.
Also read : Last day to use your old five hundred rupee note…!