Has demonetisation failed?
As we move towards December 31st deadline for depositing old notes, it is clear that almost all the old notes will be returned one way or the other. The bold attempt by the PM to kill black money has been effectively sabotaged by the triad of corrupt politicians, dishonest businessmen and avaricious bankers as is seen by several seizures of gold and new notes, which I am sure is only the tip of the iceberg. The net effect has only been to put honest individuals into severe hardship.
With our ineffective judiciary, perhaps none of these corrupt elements will ever be punished and possibly end up richer. As a common man I will feel happy only when all the bank officials who diverted money to the corrupt are given life sentences without any parole, all their assets are seized and their family is put on the streets to suffer a life of absolute penury. more
With our ineffective judiciary, perhaps none of these corrupt elements will ever be punished and possibly end up richer. As a common man I will feel happy only when all the bank officials who diverted money to the corrupt are given life sentences without any parole, all their assets are seized and their family is put on the streets to suffer a life of absolute penury. more
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In my opinion Demonetisation has not been failed but definitely sabotaged by certain black sheeps. The concern shown by Mr Govind Vijayaraghavan that honest individuals were put into hardships, is very correct but long queues in front of banks itself established that number of honest people is much more than the people managing new currency by other unfair means. Definitely the new currency was siphoned off by corrupt people by alluring few Bankers. It is a matter of investigation. Here I would like to tell that all cash moves from RBI to currency chest branches of different banks and from currency chest it is distributed to different bank branches. There is an absolute record at each bank branch that how much cash was received (even with denominations) and distributed to public/account holders. It is all maintained in computer system. Whosoever helped in siphoning off new currency will be booked by the investigating agencies. Govt has directed the enforcement agencies like Income Tax, ED, Revenue Intelligence, DRI, CBI, Police, Financial Intelligence Unit to undertake operations jointly. A large number of new currency notes have been seized from different parts of Country. People standing in queues feels cheated and are demoralised with the seizure of new currency in bulk but I am sure that people caught with large new currency and bankers with whos help they got this currency will not be spared and must not be spared. Bank branches or post offices where abnormal cash transactions (deposits or withdrawals) were performed are under the radar of investigation agencies. Let the currency position be eased and long queues in banks be shrinked all black sheeps will be behind bars. more
Dec 16
" officials who diverted money to the corrupt are given life sentences without any parole " can be seconded SINCE : RBI Directions allow weekly 0.24 for a family of 6 for 5 weeks counts to 7.20 lacs the 2000 Notes. But those caught with 4 lacs , 16 , 20 , 30 , 50 lakhs , 1.5 Crores to even 94 Crores of 2000 Notes at many places in the Country really lead the tragedy in this Campaign . This issue is wholly different and the Seized Currency of above permeability is to be dealt with a Specific and Special law handing over the Notes to RBI with details of Sl. numbers etc., pending action , for meeting the Circulation . This Special issue of Cheating the Citizen with the Currency is to be set for imprisonment in addition to confiscation of whole Currency of 2000 Notes considering the above conditions of RBI . But , SINCE THE GOI HAS STAGED CURB OF CORRUPTION in the 1st quarter of this year , appointed a Committee for study and advise the concerned & report in the 2nd quarter , Called for Disclosure of unaccounted/untaxed Income and given time upto 30th September . In Ist Week of October , the P.M. himself notified to the Nation and Public that there will be strict actions on unaccounted Money and again called for voluntary Disclosure . LASTLY , AFTER ANOTHER A MONTH , declared the Re-demonetization Process . Citizen are not to Business with the Currency Note taking the lives of Co-Citizen who followed decently the RBI Directions standing in queues . more
Dec 15
I agree with mr govind for punishing the guilty. but I don't support for punishing his family. more
Dec 15
