Name any two methods of evasion adapted by black money holders in Demonetisation move of 2016?
Answers
1. Old is 'gold'
Some affluent buyers have reportedly been paying almost twice the market value for gold in old notes.
Jewellers who had shut up shop for the day on November 8 reopened their stores within hours and were selling gold all night, local media reported.
Customers lined up outside jewellery stores in Delhi and Mumbai with bags of cash with one report saying they paid as much as Rs 52,000 rupees per 10 grams of gold, almost double the going rate.
2. Rented' bank accounts
Officials say they are keeping an eye on all cash deposits made into new Jan Dhan accounts which were opened by the government as a part of its financial inclusion scheme for the poor and farmers and which were designed for deposits such as wefare payments.
Following the withdrawal announcement, many of these accounts have seen deposits of thousands of rupees in a single day.
Local media have reported that corrupt individuals are "renting" these accounts to deposit their money in, only to withdraw it later.
I hope this helps you