India parliament passes key Modi bill on 'black money'

The upper house of parliament passed the bill that calls for fines as high as ten million rupees (about $156,500) and prison terms up to ten years for offenders. The passage of the legislation underscores Prime Minister Narendra Modi's resolve to trace hidden and undeclared cash outside the country, known as "black money". Modi's Bharatiya Janata Party (BJP) won the biggest mandate in 30 years last May on pledges to revive the economy and end corruption. Illegal deposits abro