India to follow new standard for tracking black money

Global economic body Organisation for Economic Cooperation and Development (OECD) today unveiled a new mechanism to combat the menace of offshore tax evasion, a protocol to which India is a signatory. "The OECD will formally present the standard for the endorsement of G20 finance ministers during a February 22-23 meeting in Sydney in Australia," the world body, whose economic policies are followed by over 120 countries, said in ...