The Supreme Court of India on Monday appointed a high-level Special Investigation Team (SIT) headed by former apex court judge BP Jeevan Reddy to monitor the investigation and the steps being taken to bring back black money stashed away in foreign banks.
The bench said that it was a serious lapse on the part of the government which will have implications on the country's external and internal security.
Observing the phenomenon of black money as "extremely dangerous to the country", the court said the quantum of money in foreign banks is a rough measure of "weakness" and "softness" of the nation.
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