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This refers to the article "Huge withdrawals in May-end to avoid tax trails" (Business Line, June 13). However, such a sudden rush to make withdrawals before the cut-off date (June 1) for implementation of the tax cannot be explained away as just a peremptory move to avoid the 0.1 per cent cash transaction tax. These huge withdrawals, in a way, justify the government's decision to impose the levy. They are an example of how banks are the delivery channels for large amounts of money, which could include ill-gotten wealth.

However, the government could order an investigation even into those withdrawals made before the cut-off date to ensure that banks are not being used to transfer black money.

V. Swaminathan

Bangalore

Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in

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