Govt mulls ban on cash transactions over ₹3 lakh
In a bid to curb black money in the economy, the government is considering banning cash transactions over ₹3 lakh, Central Board of Direct Taxes Chairperson Rani Nair said on Tuesday. This comes after the Supreme Court-appointed Special Investigation Team (SIT) on black money recommended the move along with restrictions on cash holding of individuals and industry to ₹15 lakh.