converting black money into white +Those indulging in or colluding with money laundering or converting black money into white will not be spared. — Shaktikanta Das (@DasShaktikanta) December 2, 2016demonetisation +NEW DELHI: Giving a stern warning to those who were converting black money into white, the finance ministry on Friday said that the trails were being watched by the income tax officials and a coordinated action was underway. "Those indulging in or colluding with money laundering orwill not be spared," economic affairs secretary Shaktikanta Das said in a tweet. Will be more visible in coming days," he said in another tweet.Meanwhile, Das told reporters on Monday thathas led to excess cash in the system which was being tackled by the Reserve Bank of India (RBI). "It is a situation of excess liquidity and the RBI is managing it.

Source: Times of India December 02, 2016 11:48 UTC