black money Archives


India: Mobiles to eliminate black money

Posted on February 22, 2011  /  1 Comments

LIRNEasia’s IAB member and close collaborator Professor Ashok Jhunjhunwala has written a thought-provoking op-ed in the Times of India: Black money thrives in the cash economy. If we introduce traceability in financial transactions, it will be difficult to hide. We can do this using some simple available technologies. It is possible to carry out all transactions in electronic form, where money is transferred from the payer’s bank account to the payee’s. The back-end core banking system of almost all banks allows that.