Demonetisation and Terror Funding
Many people on local circles and other media are talking about how demonetisation isn't successful as most money has come back in the system or will by Dec 30th.
My question is what about terror funding and counterfeit currency. Isn't that a significant benefit in itself. If through this we can reduce terrorism, isn't the scheme successful.
This circle should suggest to the Govt what to do so the new currency doesnt land up in the same hands. more
My question is what about terror funding and counterfeit currency. Isn't that a significant benefit in itself. If through this we can reduce terrorism, isn't the scheme successful.
This circle should suggest to the Govt what to do so the new currency doesnt land up in the same hands. more
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To my belief Cashless economy, will reduce the terror funding, Local Goons, violence in Elections,Corruption in GOVT Departments to large extent more
Dec 14
Extorsion,drug peddling,counterfeiting and hawala are the most possible cause of terrier funding .we must block them .NGOs and charities from abroad are to kept 100% under surveillance.Bring inland security act to solve Kadhmir issue .Democratic ways fail when the local govt is itself involved with separatists by bring soft on them. more
Dec 13
Even if we forget the torture of innocent people especially people who do not have any bank branch up to 50 km from their native place the whole exercise has failed. This damage can not be undone since it has made a huge scar. The amount of counterfeit currency in the system was miniscule ( 4-600 crore as reported) and it did not require burning another 1.3 lakh crore for printing the new currency. Further the Central Govt. knew that Bankers will have to follow the dictats of local Goons and Netas because it itself comprises men coming from the same stream. Even then it decided with this decision. Its unimaginable. The Govt was required to have promoted digital transactions in the first place by offering incentives, reducing or removing digital transaction charges, providing POS machines etc. followed by introduction of new currency notes of Rs. 500 only. After introducing the new notes for a week older notes should have been made illegal. The current option is digital transactions only. In addition the Govt. must not issue more Rs. 2000 notes and also assign a think tank to find out how much Rs. 500 notes should be brought into circulation. The country needs to be kept note-stressed not starved for a longer period so that digital transactions get adopted. The digital transactions charges needs to be reduced on all forms of use - Debit card, Credit card, Cash Cards etc. Avenues for generating Black Money - All Govt. work related to public where money transactions are involved needs to be streamlined. The Govt. has failed in Parliament and GST is not coming in the months to come. Therefore Govt. agencies will continue to count ocean waves and mint money as ever. more
Dec 11
It has definitely made a lot of difference in terrorist infiltrations and stone pelting in northern areas and smuggling of counterfeits from eastern borders. I do not think that the amounts surrendered or unearthed would go back to the system. It will be used for welfare projects. However, the govt & RBI must have taken proper care to ensure a check on counterfeiting of new notes. more
Dec 11
The headline in Times of India of 11 December 2016 is reproduced below: "Banks are running out of cash, but there's no shortage for hoarders across country" At least six more incidents of bulk seizure of new currency were reported on Saturday , including Rs 5.7 crore in Rs 2,000 notes stashed into a safe behind bathroom tiles and protected with hundreds of mothballs in the house of a hawala dealer near Chitradurga in Karnataka. The raids on Chennai industrialist J Shekhar Reddy continued their rich yield with a fresh seizure of Rs 24 crore in new Rs 2,000 notes from a minivan on streets of Vellore, about 125 km from Chennai, on the third day . Later, the I-T sleuths seized 50kg gold bars from an apartment in Chennai. In all, the seizure till now is worth Rs 190 crore --Rs 34 crore in new notes." This cannot happen without the connivance of Banks. Same corrupt Bankers will provide new currency in crores of Rupees to those involved in Terrorism. more
Dec 11
