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Towards Defining "Hawala"

Smarak Swain is an IRS Officer and currently working as an Assistant Commissioner (IT), NADT, Nagpur. He qualified in the UPSC Civil Services Exam in 2008 and has a B.Tech from IIT, Kharagpur. He has also written a book titled "Applied Psychology: India-specific and cross-cultural Approaches". In the course of my research on "Hawala", my first observation was that Hawala is mired by stereotypes -both by laymen and scholars. During my interaction with laymen (which includes many students of finance and taxmen) I came to know that almost everyone considers Hawala a route to flush out dirty money out of...
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