In their report on the “state of unaccounted income and wealth both inside and outside the country,” the Standing Committee on Finance found that there is no good way to estimate black money in India or abroad, even though they consulted three well-known think tanks and looked at the problem from many different angles. Because […]
“Black money” refers to wealth that is not recorded in the books. It is the amount of money someone got by doing something wrong or against the law. Continue reading to become an expert in types of black money and learn everything you can about it. “Black money” is money that a person or group
Money that is stored in a bank vault. What you have is not money in the way that most people think of it. Electronic currency is quickly replacing cash because it is easy to use and safe. Let’s start by looking at the most common types of electronic money. People don’t keep electronic money in
About 1400 years ago, paper money was first used in China. Not until 400 years ago did many people in Europe start to use it. Digital cash transactions now outnumber traditional cash transactions around the world. When the government prints new notes, it doesn’t keep any money back. When there are too many bills in
It’s much easier to change paper bills than it is to change electronic money. Most business deals in the modern world involve a lot of money. Getting a lot of metal money from one place to another, especially over a long distance, is not easy. But none of these problems are necessary if you use
