SIT formed on black money: Ravi Shankar Prasad

In its first decision after forming the government, the union cabinet Tuesday announced the formation of a Special Investigation Team (SIT) on black money.

Making the announcement, Law Minister Ravi Shankar Prasad said the SIT will have retired justice M.B. Shah as its head.

Secretary revenue, deputy governor of the Reserve Bank of India, director of the Intelligence Bureau, director of the Enforcement Directorate, director of the Central Bureau of Investigation (CBI), chairman of the Central Board of Direct Taxes and director of the Research and Analysis Wing (RAW) will be among the members.

"We are committed to fighting black money," Prasad said.