DEMONETISATION 0F CURRENCY - ISSUES & CONCERNS - OLD CURRENCY HANDLING

DEMONETISATION 0F CURRENCY - ISSUES & CONCERNS - OLD CURRENCY HANDLING

I am sure that the demonetisation decision was highly guarded secret and being implemented in the best interest of the nation. It is not possible to PM to implement without taking few into confidence. 

Without trust and confidence nothing can be done. It is good if the management principle "trust but verify" is followed particularly when we are taking decisions in custodian capacity. 

There are doubts being expressed about the selective leaks and favours. PMO shall use its network, IB etc and the last three months transactions of bigwigs, unusual cash movements etc can be tracked and clear public doubts on industry- political nexus.

Already banking with cash deposits, currency exchange started. As it was observed in a village branch the withdrawals and proofs are not system linked and monitored. 

If the tracking is loose ended, there is danger of currency movement to less equipped areas and illegal currency management.

In 70s land ceiling act came into existence suddenly farm labourers, domestic help even pets became benami landlords. Hope such system will not prevail here. With present systems these can be tracked and monitored if the will to do so prevail.

It is expected from governments to track currency movement, cash to metal transactions etc and ensure that public trust in the decision taken remain intact and image of PM will remain high.

BGR 9866889246