Letter to BS: Note ban forced ownership of every rupee in monetery system

Now that every single rupee has an owner, he will have to explain where the money came from

This refers to your first page report “Minutes: RBI had warned against govt against demonetisation” (March 11). The report states that the Reserve Bank of India (RBI) thought “most of the ill-gotten wealth is stashed in assets such as gold and real estate.” 

As a Chartered Accountant in taxation, I disagree with this in all humility. First, the RBI is not an expert in black money and I do not blame them for giving an opinion which touched the surface only. Second, black money is not a static phenomenon. It is generated every day, finding its way into gold, real estate