Sir — This refers to the editorial, “A good beginning to end war against black money” (November 14) by Joginder Singh. The Modi Government’s decision to scrap Rs500 and Rs1,000 currency notes will certainly weed out a sizeable amount of black money.
But to stop black money from mushrooming again, more needs to be done. Cash transactions of over Rs50,000 must be prohibited to cut the channels of black money circulation. Demand draft and online payment can easily be taken care of by banning money transactions over Rs50,000. Those who do not have a bank account can make the payment through demand draft without any difficulty. This complementary step is needed to sustain the benefits of currency renewal and to choke regressive parallel economy.