Panama Papers type cases fuel delegitimisation of wealth: Rajan

Panama Papers type cases fuel delegitimisation of wealth: Rajan: Calling it important for societies to work towards legitimising wealth, RBI Governor Raghuram Rajan said on Thursday that the phenomenon of rich citizens spiriting money away in tax havens, as alleged through the 'Panama Papers', may encourage






Wealth accumulated which is surplus saved after meeting all
legal obligations and the illegitimate wealth accumulated by unethical means
(take the example of those wealthy people who have borrowed thousands of crores
from banks and refused to repay!) need to get differential treatments. One
wishes, those who face criminal charges or turn to charities after accumulating
wealth which the hungry on the street describes as ‘ugly’ had applied their
mind little earlier.
M G Warrier 



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