Letter to BS: Don't blame cash for all the ills in our financial system

It is common knowledge that large-scale tax evasion in India comes more from large businesses and corporates rather than from private individuals

This refers to “Let’s stop making cash the villain” by Ajit Balakrishnan (January 3). The author deserves accolades for destroying a myth and playing the “devil's advocate” for cash. Cash is the most convenient and anonymous financial instrument. The current narratives against cash in India flows from a dubious belief that it lies at the root of black money, bribery, tax evasion, all of which lead to money laundering. It is not cash which gives rise to all these seemingly illegal practices, but it is the 24 X 7 election-dominated democratic system that forces business and corporates to generate black