Black Money

  • Odisha: I-T special wing to keep watch on black money circulation 01-04-2014 06:24 PM

    Bhubaneswar: The Income Tax Department has opened an Airport Intelligence Unit here at the Biju Patnaik International Airport, which is functioning in all working days to keep a close watch on movement of undisclosed cash during election time, official sources said. In view of the ensuing Lok Sabha and Assembly...
  • Black money may account for 1/3rd of Rs 30k crore poll expenses 01-04-2014 06:07 PM

    As general elections draw closer, 'unaccounted money' may account for over one-third of total Rs 30,000 crore estimated to be spent on these polls, a study says. The estimated Rs 30,000 crore total spending -- which includes official estimates for elections as also unaccounted money spent by parties and their...
  • Swiss government to reply Chidambaram's letter soon 27-03-2014 09:24 PM

    Switzerland on Thursday said it would soon respond to Finance Minister P Chidambaram's letter that has raised concerns about not providing information on alleged unaccounted money stashed by Indians in Swiss banks. "We confirm that we have received a letter from India's Finance Minister. He will receive an answer soon,"...
  • Switzerland not sharing information on bank accounts of Indians: Chidambaram 27-03-2014 12:19 PM

    New Delhi: Upping the ante against Switzerland for not sharing information on Indians stashing money in its banks, Finance Minister P Chidambaram has threatened to drag the European nation to multilateral foras like G20 for continuing to block its requests. Chidambaram, in a terse two-page letter to his Swiss counterpart...
  • SC slams Centre on black money issue, rejects its plea against SIT 26-03-2014 03:43 PM

    New Delhi: The Supreme Court on Wednesday took on the government on the black money issue saying that the UPA's unwillingness to bring it back had led to increase in taxes and decline in the per capita income. "For more than 60 years, no government took any action on black...
  • Congress to realease manifesto today, to focus on anti-graft bills 26-03-2014 09:20 AM

    New Delhi: The Congress is all set to release its 2014 Lok Sabha polls manifesto on Wednesday. It is likely to focus on the party's commitment to pass anti-corruption Bills and bring back black money. Rights-based legislations like the MNREGA, Food Security and the RTI are likely to be key...
  • Rs 41 lakh seized from car 16-03-2014 11:53 PM

    More than Rs 41 lakh in cash was on Sunday seized from a vehicle during checking in the Sarurpur area in Meerut district, police said. According to SSP Omkar Singh, cash of Rs 41,01,400 was recovered from a car during checking by police on the Rohta Road here. Singh said...
  • Black money in polls: I-T starts helpline for Delhi 15-03-2014 10:21 AM

    New Delhi: The Income Tax department has floated a toll-free helpline number for general public to alert it about any suspicious movement of large sums of cash in the national capital during polls. The investigation wing of the department has created a control room and complaint monitoring cell at its...
  • Income Tax department to keep watch over use of black money in LS polls 13-03-2014 03:02 PM

    Income Tax department will depute 65 officers and 130 inspectors to keep a tab over use of illegal cash and valuables in Lok Sabha elections in Bihar and Jharkhand, a senior IT official said on Thursday. "Besides, control rooms have been set up in Patna and Ranchi with toll free...
  • EC creates multi-agency grid to curb use of black money in polls 11-03-2014 03:13 PM

    New Delhi: The Election Commission has created a multi-agency grid of revenue and security intelligence agencies to regularly update it about suspected financial movements as part of measures to curb use of black money in Lok Sabha and Assembly polls. In a first-of-its-kind measure, the EC has created a board...
  • EC calls meeting of political party auditors today 10-03-2014 08:04 AM

    New Delhi: The Election Commission has convened a meeting of account auditors of all political parties on Monday to discuss transparency guidelines norms and filing of financial statements by them after completion of Lok Sabha polls as part of efforts to curb the use of black money. The EC has...
  • Withdrawal of pre-2005 notes is not to check black money: Raghuram Rajan 28-01-2014 03:34 PM

    Reserve Bank Governor Raghuram Rajan on Tuesday said the withdrawal of pre-2005 notes is not intended to check black money but to prevent counterfeiting. "It is not intended to get at black money, tax evasion etc. I am not saying those are good things. This is technical action, in order...
  • Vote for those committed to bring back black money: Ram Jethmalani 27-01-2014 03:43 PM

    Mumbai: Former Union Minister and eminent lawyer Ram Jethmalani on Monday urged people to vote for that party in the coming elections, which will commit itself to bring back the black money stashed abroad. Inaugurating the 21st Rashtriya Kavi Sammelan at Thane during the weekend he said, "citizens should demand...
  • RBI to withdraw pre-2005 currency notes to unearth black money 23-01-2014 11:02 AM

    The RBI has announced that currency notes issued before 2005 will no longer be accepted. The notes can be exchanged at banks till July. The old notes are being withdrawn because they do not display the year they were printed. The move is being seen as an effort to crack...
  • SC to hear Ram Jethmalani's plea on black money on February 19 17-01-2014 05:36 PM

    The Supreme Court on Friday decided to hear on February 19 an application seeking speedy hearing of a plea by jurist Ram Jethmalani accusing the Centre of not implementing its directions on the issue of black money allegedly stashed in banks abroad. "We understand it is matter of great importance,"...
  • Andhra Pradesh: Woman cheated of her valuables by fake Income Tax officials 04-07-2013 06:38 AM

    Hyderabad: Four people posing as Income Tax officers allegedly took away Rs 2 lakh in cash and 200 grams gold ornaments from a elderly woman on Tuesday in Rajendra Nagar, the police said. The four men who went to the house of one Basanti informed her that they were Income...
  • Creators of black money will be punished, says Modi 30-06-2013 07:12 AM

    Ahmedabad: Gujarat Chief Minister Narendra Modi on Saturday said time will come when those behind creation of black money in the country will be punished. "An opportunity will come to punish all those behind the creation of black money in the country," Modi said. "The currency is not black.... but...
  • Indian money in Swiss banks dips to Rs 9,000 cr 20-06-2013 06:23 PM

    Zurich: Indians' money in Swiss banks has fallen to a record low level of about Rs 9,000 crore (1.42 billion Swiss francs), as a global clampdown against the famed secrecy wall of Switzerland banking system made it unattractive for their global clients. The total funds held by Indian individuals and...
  • Is the violation of banking norms far more widespread than believed? 18-06-2013 11:32 PM

    After the Reserve Bank of India (RBI) fined ICICI, HDFC and Axis banks for flouting customer norms, highlighted by a Cobrapost expose, the latest sting operation by the online magazine exposes how some employees in two foreign banks in India have also been involved in accepting black money and agreeing...
  • StanChart, HSBC officials caught on camera offering to launder money 18-06-2013 10:00 PM

    New Delhi: After the Reserve Bank of India (RBI) fined ICICI, HDFC and Axis banks for flouting customer norms, highlighted by a Cobrapost expose, the latest sting operation by the online magazine exposes how some employees in two foreign banks in India have also been involved in accepting black money...
  • PM regrets bills stuck due to 'impatient' opposition 01-06-2013 04:25 AM

    New Delhi: Prime Minister Manmohan Singh on Friday said his great regret as prime minister was that many bills had not been passed due to the "obstructionist" and "impatient" attitude of the opposition. "The obstructionist role of the opposition increased in recent years. My great regret is that many important...
  • Tax evader Hasan Ali Khan's bail plea rejected 12-04-2013 09:56 PM

    Patna: A local court on Friday rejected the bail application of Pune-based businessman Hasan Ali Khan in a fake passport case. Judicial Magistrate Sunil Kumar passed the order summarily rejecting the bail plea of Khan. The police had last week submitted a charge sheet in the court hearing the fake...
  • Money laundering by banks: Have our regulatory public institutions failed? 14-03-2013 10:09 PM

    Every rule laid down by the Reserve Bank of India has a possible loophole - that's what the bankers exposed by the Cobrapost sting claimed. ...
  • News 360: Cobrapost expose reveals brazen money laundering at banks 14-03-2013 08:36 PM

    A sting operation conducted by Cobrapost across various branches of private financial institutions, including HDFC, ICICI and Axis banks showed how bank employees were helping customers convert black money into white. ...