Thursday, November 3, 2011

How to Control Black Money

Prof. P.V. Indiresan, our Chairman, has written a wonderful article on how to control black money. The article appeared in The Hindu BusinessLine in October 2011; the link is here:

I think that it is a great idea to issue a high value currency note, say Rs.500 and Rs.1000 notes, with a time limit. After the expiry, the expired notes have to be deposited in a bank account to gain value. This way, black money in the form of cash stashed away needs to come out in the open through bank accounts.

comments are welcome.

National Management B School in India