New Delhi: Drawing constant flak for its negligent attitude in handling black money stashed in foreign banks, the Central government has decided to take concrete measures against the large scale Hawala transactions in the country.

Major market hubs, which are den of hawala transactions, have come under the surveillance of the Enforcement Directorate (ED).

Keeping a hawk's eye on the markets of Old Delhi, Bada Bazaar of Kolkata, Bhind market of Mumbai, and some of the market hubs in Kozhikode, Hyderabad, Jaipur and Ahmedabad, the ED has initiated its move to bust rackets involved in illegal transfer of money.

According to the sources, Chandi Chowk and Gandhi Nagar of Old Delhi are under scanner.

It needs to be mentioned that few months back, a businessman of Connaught Place was booked for operating hawala racket. Police recovered Rs 9.28 crore from the businessman. In wake of this incidence, the ED has served notice to few businessmen of Chandini Chowk.

Apart from Delhi, the Bada Bazar of Kolkata and Angadia are under the scanner of ED. Recently, many cases of hawala transaction from Bada Bazar have also come to light.

Sources said the operators involved in the Hawala networking have spread their tentacles all across the country.

Interestingly, Hyderabad has emerged as a major centre for illegal transaction of money from Dubai. Hawala operators opt for Jaipur and Ahmedabad for transferring money from Europe and America.

Mumbai-based transactions are carried out via Ahmedabad network.

Notably, on July 2011, intelligence agency busted hawala network of Mumbai and Ahmedabad.

If sources are to be believed, regulation in hawala transactions became visible after terrorist activities in November 2008.

Sources in the Ministry of Finance informed that the markets in these cities are linked to international operators.

This is in direct violation of Foreign Exchange Management Act (FEMA) which is dangerous for security of the country.

Sources believe that international operators are a big reason for generation of black money.