Excelsior Correspondent
NEW DELHI : The Government will soon ban cash transactions of more than Rs 3 lakh to clamp down on black money.
The Rs 3 lakh-limit is to ensure transactions are made using credit or debit cards and cheques or drafts that can be easily tracked.
The Government has already banned cash advances of more than Rs 20,000 for property transactions. It is, though, yet to decide on banning cash transactions of over Rs 15 lakh, because of opposition from trade and industry, sources said.
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