The RBI/Finance Ministry could make it mandatory that all transactions above Rs. 10,000/- should be done through a bank transfer, not cash. It would dramatically bring down the black money and improve tax compliance. All that it needs is political will and an overhaul of our banking system to provide automatic clearance.
RE:Bank Transactions
by Sarah Priscilla on Apr 03, 2007 04:43 PM Permalink
just not possible practically. imagine at middle of night for a medical emergency,in which bank will u do transaction. further, it will bring crashing down all the micro,small, medium trading businees invovling thousands of crores of rupess and along with it the economy of the country.
