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  • Category: Miscellaneous

    Can you suggest some measures to prevent new currency notes to reach to big black money hoarders

    Government had provided the window to exchange old notes of Rs.500 and Rs.1000 to public. Some RBI and bank officials has misused the facility and involved in replacing the old notes with new Rs.2000 notes and Rs100 notes. Income tax department has raided many big fishes and recovered more than Rs1000 000 000/and 250 kg golds.It created the shortage of money into the banking system. To check such incidents in future, what would you suggest to government of India?
  • #585897
    Raid the quarters and the bank lockers of all the R B I officials. If found guilty of a dirty corruption act, cease their citizenship to their entire family, and send them to cellular jail at Port Blair in Andaman and Nicobar Islands. This will teach a good lesson to all the black money holders and black money supporters.
    No life without Sun

  • #585902
    No doubt the demonetization has immensely helped in unearthing a good chunk of black money but the implementation and execution of this bold project has been very week because of the corrupted system. The old and rotten system of babus and bureaucracy along with corrupt politicians has added fuel to fire.
    As per our present legislature and legal system the punishment for hoarding and black marketing is minimal and long and tedious judicial processes help the culprits only.
    Under these circumstances a change in legislature or constitution incorporating severe state punishment for these defaulters is needed.
    On the other hand involvement of citizens is also required for achieving a clean society. A country can not become alright in a days time. If a major percentage of persons are hoarding the new currency, it is difficult for Government to catch all the thieves overnight. To eradicate these long persisting menaces a political will with strong legislature and good governance is required. Even in China where Govt is all powerful to take drastic actions is suffering from issue of governance. A rough estimate says that china has 3 times more black money than India.
    Another important thing is increasing of tax payers base. If more and more persons are brought into the tax network, black money will slide down. Increasing tax base also requires good governance through computerization and cross checking of financial data from share markets etc.
    All these measures will retard the hoarding of current currencies.

    Knowledge is power.

  • #585915
    Please note that the RBI has printed 2000 rupees as new notes and it is having the inventory of all the serial numbers it has released to every bank from the various branches of RBI. The bank managers out of ignorance and greediness has engaged upon converting old notes to the new one with hefty commission. The amount of old notes thus collected were adjusted to Jan Dhan accounts which were not cared either too. In the eyes of government the bank managers managed a clean account. But government can always question the account holder and seek deposit slip of any transactions done during these 50 days. So bank managers, black money holders, wrong doers and other tricksters would be booked by the RBI as they have every detail of the new notes released and that can be compared with those credited the amount. So the process of arresting the culprits would start soon in large scale.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #585925
    Suggesting to government will never materialize because its like picking stone's in rice. In the government there are more stones than rice. So whoever tries to do good they know to misuse it very well. They themselves should understand and this will never happen.

  • #585940
    Some of the measure are-
    1. Bring back the new Rs 2000 seized notes into banking system.
    2. Speedy print the new currency.
    3. RBI should keep the record for which number series is going to which bank and branch.
    4. The people involved should be tried under national security act for sedition apart from IT and other acts.
    5. People should be encouraged to deposit back new currency and some incentive should be given for some limited time.

    The greatest wealth in this world is mental peace and good health.

  • #585943
    Black fishes are always under escapism mentality. They see the chance to escape from the ambit of IT department in such a way that buying gold biscuits and plots etc. But, now government tights all the nuts to all sides of frame of black money earned by fishes.

    Yesterday a candidate who told with me that he could get even 50000 new notes in his business circulation and whether it could be needed for him in home instead of deposit such money. At initial stages of demonetization, cash was available but now that new currency is coming in the pocket of black fishes as liquid form. So we face money lacking problems in bank and ATM. There were some rumours that a nano chip was arranged in 2000 notes to prevent to keep these notes at the person for a long time. That becomes false because new currency was come to black fishes in crores. That rumour is to be true then only cash problem will be prevented.

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