Black Money White Washed with Thirty Percent Commission

With our P.M Narendra Modi initiative to Clean Up Indian economy by using Note BAN aka demonetisation spree. The Black Money launderers are leaving no stone unturned to convert their BLACK aka Khala Dhan to white. One such method is utilise existing Jan Dhan accounts of below poverty line masses by depositing this unaccounted money in such accounts and giving it a clean white wash to come out of BLACK-MONEY tag!

There are dime a dozen operators in urban India and rural India operating with CASH COUNTING MACHINES to count all old notes and deduct 30% commission and through nexus of some bank managers give clean chit to this money!

Government has countered this by issuing Income Tax Notices to all those account holders who are suspected to have got these money deposited.

Various Bank managers with access to accounts information of customers are involved in this nexus to effectively knit a trap so that Black is White Washed to White! (read more...read more...)

The other scheme employed is by many big Industrialists/Businessmen who are taking a photo copy of AADHAR NUMBERS of all their employees and again with a hand-in-glove operation with Bank Managers deposit money to these accounts and withdraw later!

Few Public Works contractors have taken another route of raising Work/Purchase Orders from Banks by depositing huge some in such orders using demonetised old currency and withdraw these orders at later point once the entire demonetisation scheme is completed!

In addition Big-Fishes like Reliance are said to have involved in these scams through their new SIM card available free of cost to AAM-ADMI, though this is a conspiracy theory, no one can outrightly rule it out.

I.T Officials and Notice Spree

To counter these Income tax officials have started issuing Notices to all those account holders who have transacted huge some of money! Now the question is when these account holders give explanation to Income tax officials of their circle/area, What is the guarantee that these officials cannot be BOOKED aka FIXED as in SPOT FIXING of cricket?! any ways let us hope for the best and if all these efforts lead to discounted Income Tax to salaried masses, they will stand behind P.M for his efforts to make India SWACCH BHARTH in true sense.

GOOD NEWS OF TARGETING BIG FISHES LIKE MALLYA
Finally Central Bureau of Investigation C.B.I has issued Bail less arrest warrant to Fleeing Kingfisher Chairman Vijay Mallya, really a welcome move in the direction of targeting Whales and Sharks along with smaller fishes that have consumed 500 & 1000 INR currency! read more here Vijay Mallya being issued ARREST warrant

Jai Hind, Jai Karnataka!