Black money holders seeking ways - Fusion - WeRIndia

The sudden announcement of demonetization by PM Modi shook the black money holders. At first, they were numbed and lost their words. But, slowly they are seeking ways as days are passing.

Many normal people who do not have black money are struggling to get their money deposited and get smaller denomination notes. However, the big black money holders seem uncaring about this decision.

Many black billionaires consulted chartered accountants for their suggestion to protect themselves from the scrapping of big currency notes. Even CAs are helping them by asking their small clients i.e. small firms to take money to be deposited into their accounts for a certain amount of commission.

Some middlemen enter in between to lure them by promising help in escaping. They are helping to buy artwork for a huge amount which will later be sold.

Whether true or not, there are some statements flying around that some bank managers are helping black money holders by taking huge commission.

In another move, several jewelry shops are selling gold for almost double the rate. Even though, the government is ordered to install CCTVs in each shop from November 8, many shops are not following it. They are violating all the rules in addition to the selling of gold on old dates.

Even petrol pumps are helping black money holders. They are not accepting higher denomination notes from public and are taking the small notes. They are misusing these notes.

Hence, government should strictly monitor all possible ways that can be used by black money holders to escape from the law.

If black money holders succeed in their ways, the main purpose of the demonetization will be lost. So, honest citizens can give their suggestions and ideas to the PMO to control black money and to protect the national interest.

Image Credit: itkannan4u (Free for commercial use)

Image Reference: https://pixabay.com/fr/photos/roupies-l-argent-indien-monnaie-435450/