Ensuring Launderers don't get away

Approximately 9 lakh crores has already been deposited in banks in the demonetised 500/1000 notes and much more is due to come in as people can deposit them till Dec 30th.

If all or close to the outstanding 14.2 lakh crores comes in, that may indicate that significant laundering has taken place.

With this post, we seek your inputs on what should the Government to ensure that those who have been involved in laundering are not able to withdraw these funds easily and are flagged for further investigation. What should be the policies, the role of banks and withdrawal/transfer limits?

If you have a comprehensive model in mind, please share the same. We will ensure it gets highlighted and atleast considered by Finance Ministry for implementation.

We look forward to your inputs! more  

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We have to reduce some indirect taxes of farmers and low class usage items,and increase personal taxation limits,to bring at least 20% population in Tax net. [2]This is a necessity to call India a developed country [3]The increase in personal wealth is going for buying more houses for each individual families[of certain category-and they-could also be lending for black money generation]. [4]With the Adhar-and Pan integration and Geo tagging of Urban houses-across nation brings the necessity to contain that sort of gorth [5]The personal wealth should go for generation of industrial out put-jobs for community. [Find more ways of taxing and also find where when invested the wealth can be used by next generation. more  
Those section of parties who are anti Demonetization campaign planning dilution of its Objectives that eradicate means of Black Money Creation . GOI & RBI are to publicize the ills carried in the period of Demonetization as well as till date alongwith the partly achieved results . Even this month of October 2017 , Old Currency was Seized while on exchange with some NRI teams . The goal of those anti to the issue of curb of Corruption and methods of Concealed wealth Concentrated with malafied practices under the anti national concept of Black Money Bagging is to be stopped at public interest as well as to save the National Income & Wealth that had been looted and diversified . more  
The big guns who have exchanged old notes in excess of two lakhs must be investigated linking their tax returns, Aadhar and bank statements and analysis will yield huge information on black money. Even now the small traders and market controllers ie whole sale people are not accepting paperless transaction,This is defeating the very purpose of Demonitisation.Rise in prices, fluctuation not related to,production is due to these unscrupulous elements resorting to black mail tactics in market yards .They act in tandem with each other . Raid repeatedly these players apart from gold buyers and jewellers ,they will not easily be caught as they know many methods to escape and bring pressure on the GOI by lobbying with politicians to change the very policy of control. more  
Even this month, Teams engaged in exchanging Old notes through NRI , Local Agents are arrested and the Old notes worth 34 lakhs and , 1.2 Crores Seized . more  
Real estate is where most corrupt money get into. By linking aadhar and land records, the benami holders will lose out. Also, most crimes are in this space. Thus, by linking it, the crime rates will fall dramatically. All benami land will get back into Govt kitty. more  
The population of India is 125 Crores, but the Tax Payers are only 3.5 Crores. One way to bring more people under Tax net is get the details of all those Vehicle Owners in India . Make it compulsory the quantity of Petrol / Diesel the vehicle owners purchase from Gasoline Station recorded monthwise against the registration no of the vehicle. If more than say Rs. 25000 worth gasoline purchased against private car owners, they are the ideal people to come under Tax net !. more  
A. The introduction of Rs.200/- and Rs.50/- Notes shall be with sufficient Stock to replace Rs.2,000/- and even the old Rs.100/- . B. This only paves the ladder to conclude the places & persons of Black Money in Currency in a Sharp Span while sets aside the commentators still questioning the issue of Demonetization of 2016 . C. GOI & RBI shall send requisite directions to all Banks for promptly recorded Exchange of Currency . D. There shall be a Specific Condition that every individual/HUF hall Deposit his present Currency into authorized Bank/Post Office A/c if it exceeds 10% of his/their Yearly Income . And , restrict Business establishments / Agencies for depositing the Notes in their Bank Accounts only . E. Direct the Banks and Governments to deploy two Policemen at each Branch and PO TO AVOID REPEATED EXCHANGE by same individual or troops depriving the co-citizen . F. Confirm compulsory installation and functioning of CCTV both inside and the outside of the Branch whatever side Gates/Doors exist . FURTHER , THE FOLLOWING IS TO BE ENFORCED ON TOP PREFERENCE TO ACHIEVE THE GOAL OF " QUIT BLACK MONEY & CORRUPTION " 1. Rate of interest on Savings Accounts is to be increased reasonably as other wise , Citizen Participation other than their own Business & Earning Options will further go down . Categorized interest Rates to be well planned like I.T. Slabs Rates 2. It is necessary to increase the Lending Rates of Banks setting Categorized encouragement for use in Various Sectors of Business opting utilization in Productivity Fields . 3. Discouraging Imported items make the Indian Market grow with national Economy . 4. Immediately Amend the Laws to : [a] Limit Cash Transactions on goods to Rs.10,000/- [b] Limit Cash Payments by any to any to Rs.10,000/- [c] Mention Bank through Payment Particulars in all Property Transactions fully in detail for Registration amending the sections so to allow the Open Market Rate Payments while restricting the Stamp Duty only to the Government Market Rate that is declared as in force . [d] Compulsory Bill issue System by every Dealer through Electronic Machinery Categorizing those having Daily Turnover of above Rs.3,000/- [e] Fast Supply the Swiping Machines and Teller Paid Cards just like the Cellphone Providers Recharge the Money . This System will replace the necessity and usage of Currency from Rs.10 to any Value . 5. All Car , Van , Truck , Lorry , Bus , Cab Owners , are to be connected with Aadhar Card wherever issued , latest Voter Card wherever Aadhar Card still to be issued , identifying from the Pan Card . 6. Plan Check on all Sales Tax Certificate Holding Shops . 7. Try for linking the Bank Accounts with Aadhar Card wherever issued and , Latest Voter Card wherever Aadhar Card still to be issued. 8. Condition the linkage of Aadhar Card , if not issued , latest Voter Card mention in all Bills of Fertilizers & Pesticides which shall be annexed with the Ownership Document of Cultivable Land [ Double Crop / Single Crop / Seasonal Crop ] 9. Condition that No Educational Institution and No Healthcare Institutions and Hospitals are exempted from the application of POINT 4 a & b . These precautions are necessary while this method of predetermination in the program with requisite conditions will arrest the misuse , misappropriation , corruption and cheating in exchange of Currency that was identified in 2016 Demonetization . The supply and making compulsory for use of Swiping Machines making cashless transactions for prompt compliance . Further , a prompt attention is required to avoid the dirty tricks played by the mediating Agencies and daily businessmen who concealed the Currency and set for a premium of 20 to 30% creating uproar . This type of pre plan is necessary to achieve the goal of Controlling Black Money Generation amidst unrealized practice & patronage of Corruption in States . more  
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