No life without Sun
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.
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease
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.
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.