Probable solution for arresting black money

1.       All the purchasing/selling above 20,000 Rs should be through the bank only and cash transaction should be banned.

2.       With this method, we end up routing all the financial matters through bank and it is easy for to find out the net income, taxes and so on.

3.       All the bank transactions should have PAN card number necessary on it for tracking purpose.

4.       When you transfer the plot/house from one person to another person, the registrar should demand for the money transfer details to ensure the white money usage.

5.       The RBI should hence limit printing the cash.RBI should keep the equivalent amount of gold as a safety for the money released.

6.       Option should be given to convert all the black money to white money by paying the tax  for the black money involved. The names of the people should be kept confidential.

I am confident, this will solve 60-70% of the problems. Please implement  this atleast in one small state like Goa  to understand the effectiveness and impact