How Banks can help in Catching Black Money

There are various ways Bank together with sharing information with IT department can catch Country cheater.

Sr. No	Parameter to be used	Percentage Factor	Max Limit
1	Last 3/6/9/12 Months Average Savings/Current a/c Balance	200%	2,50,000
2	Last 3/6/9/12 Months Average Bank Deposit	10%	2,50,000
3	Last 3/6/9/12 Months Average Monthly Cash Deposit	150%	1,50,000
4	Last 1 Month and 8 days (1st-October-2016 to 8th-November-2016) Cash Withdrawal	100%	No Limit
5	Last 3/6/9/12 Months Average Credit Card Bill	100%	1,00,000
6	New a/c opened in November and December-2016	N/A	1,00,000

For special account like ZBA, Where a/c balance is transferred from/to another Fixed deposit a/c at EOD. The amount of everyday's last ZBA transfer to be taken as a Savings a/c balance.

Investments in Mutual Funds, ULIP, Insurance, Stocks, Gold should be completely ignored. Even though they are sold by Bank or Banks sister concern or Banks subsidiaries.
Selling of such items by account holder is en-cashed in cheque/NEFT/RTGS. Almost zero cash is involved

If Total Cash deposit of old notes in November + December is within any o the 2 above parameters it is not subject to scrutiny by IT.

If it satisfies only one parameter, it is subject to scrutiny.

IT can decide on which one to choose in "Last 3/6/9/12 Months" range, Last 3 Months is best option in my opinion.

IT can also decide on each Percentage Factor and Max Limit. Above given is best in my opinion.