Vowing to continue the crackdown on black money, Prime Minister Narendra Modi today said that over Rs 1.75 lakh crore deposited in banks post note-ban and more than 18 lakh people with disproportionate income are under government scrutiny. Demonetisation of old Rs 500 and Rs 1,000 notes last November, he said, helped bring over Rs 3 lakh crore of hereto unaccounted wealth into the banking system. Modi said that out of the money deposited in banks post note ban, over Rs 1.75 lakh crore is under scrutiny. "More than Rs 2 lakh crore black money has reached banks and now people depositing such money are being made to answer questions on their origin." OVER 1.75 LAKH SHELL COMPANIES SHUTThe move forced "the black money which was hidden to be brought to mainstream.

Source: India Today August 15, 2017 09:52 UTC