Some time back, POS bills paid in cash have had a cash acceptance limit introduced as a step towards curbing money laundering. However, similar restrictions were not put on other bills like Gift Voucher Bills and Deposit/Refund Bills etc. 

In a bid to curb money laundering as well as to restrict the number and amount of cash dealings, the government has introduced some new rules and banned some types of cash payments. 

Retail businesses cannot accept cash of 2 Lacs or more… read more