Stressing that bulk of black money is still within India, he said there is a need to change the attitude to make plastic currency the norm and cash an exception and the government is working with various authorities to incentivise this change.
The Special Investigation Team on Black Money had suggested that Sebi needs to further strengthen its monitoring mechanism to detect instances of the stock market platform being misused for tax evasion.
Bharatiya Janata Party (BJP) leader Subramanian Swamy on Wednesday said the Black Money Bill passed in the Lok Sabha had no measures to bring the money stashed abroad back, but was only aimed at tightening the tax penalties.
Cricket betting has emerged as one of the key sources of blackmoney generation and according to one account it could be as high as Rs. Three lakh crore which should be controlled, the Supreme Court was told on Tuesday.
Opposition members in the Lok Sabha on Monday attacked Prime Minister Narendra Modi's reported electoral promise of depositing Rs 15 lakh in every account when Indian black money stashed abroad is brought back, wondering when the promise will be fulfilled.
Attacking the BJP over blackmoney issue, JD(U) president Sharad Yadav on Sunday said the Narendra Modi government has failed to bring back any blackmoney stashed in foreign banks despite their tall promises to do so.
Congress on Wednesday asked the Modi government not to resort to "blackmail" on the issue of naming black money holders and dared it to come out with full information without indulging in "selective leakage".
Janata Dal (United) on Saturday made a scathing attack on the Centre for not disclosing information about black money and said the election campaign on the issue by Prime Minister Narendra Modi was based on false promises.
Accusing the NDA government of misleading the public on the issue of black money, Congress on Saturday rejected Finance Minister Arun Jaitley's charge that a treaty signed with Germany by the Congress government in 1995 has kept its hands tied on the issue.