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Black money is in foreign banks, properties: All India Bank Employees Association


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NEW DELHI, Nov 09:The withdrawal of 500 and 1,000 rupee notes from circulation will not help in fighting black money as it is stashed away in foreign banks, foreign currency, gold or in the form of other assets, a top leader of the All India Bank Employees Association said.

"Everyone knows that black money is mostly in foreign currency, in foreign banks, in gold or in properties and less in cash. Hence, this steps alone is not going to help in unearthing black money," AIBEA's general secretary CH Venkatachalam said.(Agencies)

 


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