Financial Daily from THE HINDU group of publications
Monday, May 02, 2005
Financial Daily from THE HINDU group of publications Monday, May 02, 2005 |
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Opinion
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Letters Black money transactions
Contrary to what many may feel, it is not only those who deal in blank money who transact through banks. For instance, take a look at transactions in the plantation industry. Several crores of rupees is withdrawn from banks and paid as sale consideration for plantation products in hard cash. This is perfectly in order as far as the purchaser is concerned. However, a huge chunk of this money is stacked up in cash, unaccounted for and is becomes black money. This is just one example; there are several other instances where banks transactions are used for `conversion.' T. N. Ramashesha Chikmagalur
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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