The S&P BSE Sensex ended 46 points lower at 24,824 and Nifty50 settled at 7,555, down by 8 points after hitting intra-day high of 7,600.45.
While some companies, such as HSBC, have closed retail operations, big players such as India Infoline is scaling down.
Government on Monday formed a multi-agency group to monitor exposes in this regard and vowed to take action against all "unlawful" accounts held abroad.
Cashi Crisis: Day 9: Aaj ki Taaza Khabar!
Concluding the three-part series, Paranjoy Guha Thakurta says that the black money law is likely to fail because of the ineptness of India's investigative and enforcement agencies.
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