Lottery prize money payout via banks

New Delhi: Ministry of Home Affairs wants that the prize amount should be disbursed to lottery winners through formal banking channels to check tax evasion and money laundering, Parliament was informed on Monday.

The Home Ministry has sought views from the Revenue Department, under the Finance Ministry, and State governments in this regard. “Ministry of Home Affairs sought views from Department of Revenue, Ministry of Finance through the said OM (office memorandum) regarding possibility of disbursement of prize amount of lotteries through formal banking channel.