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A cashless economy is the specified state in lots of international locations around the globe. FIU passed on the data to the Central Board of Direct Taxes (CBDT), which unearthed an all-India network of cash laundering by way of 236 financial institution accounts. Whatever the trigger may be, the UPI initiative has certainly proved profitable in majorly remodeling India into a less money-reliant economy.Black money and tax evasion consuming away the social and moral framework of Indian economy are undermining the socio-financial aims and are accountable for manifest and lavish consumption. Cash can be hidden in locations like bank lockers and underground tunnels.
