Ministry of Finance on Friday urged people to not to fall in trap of ‘money converters’ who are claiming to turn unaccounted money into white. Revenue Secretary Hasmukh Adhia, in a tweet, urged people to not to be a partner in crime of ‘converting black money into black again’.
“We urge people not to come in the lure of money converters and not be a partner in this crime of converting black money into black again,” Adhia said in a Tweet.
We urge people not to come in the lure of money converters and not be a partner in this crime of converting black money into black again.
— Dr Hasmukh Adhia (@adhia03) November 18, 2016
Earlier in the day, Government had cautioned Jan Dhan account holders, housewives and artisans that they will be prosecuted under the I-T Act for allowing misuse of their bank accounts through deposit of black money in Rs 500/1,000 notes during the 50-day window till December 30. Government has taken up several measures to avoid use of misuse of exchange facility available at Banks. The limit to exchange old currency from banks has been reduced to Rs 2,000 from Rs 4,500 per person per day. Banks will note be exchanging notes on Saturday followed by a Sunday, i.e there will be a two-day halt in the exchange process at banks.