CASH TO LESS CASH , CASHLESS SOCIETY- GROUND REALITIES Government in last 15 days is talking more about moving to less cash & then to cash less society in phased manner. Demonetisation is a welcome move, but when it comes to implementation, serious lacuna is being observed in field. Reports such as already 70% of banned currency reached banking system as on date through large scale money laundering & further expected to reach over 90 % soon, large accumulation of Rs.2000/- notes by individuals reported etc are strong evidences and GOI needs to submit white paper on its implementation strategy. GOI has to clearly explain how it is going to handle black money already recycled into system through benami accounts. If new currency is printed & circulated into banks, matching with the banned currency, there is a strong possibility of huge currency reaching back the bunkers. Printing of less physical currency will have huge currency shortage and balance of payments probl...

DEMONETISATION – GARIBON  KI  ZINDAGI  KHATRE  MEIN  NAHI  DALNA Despite tall claims on double digit GDP growth and successful economic reforms, still over 25% population is under BPL & about 45% are functionally illiterate. It is evident that rich is becoming richer and the gap between rich and poor is further widening. It implies that India is growing at the cost of Bharath, which is not a healthy democracy. Poor are vulnerable and susceptible to all sorts of exploitation, more so in under developed and feudal societies. It is clearly evident from the fact that zero balance accounts bulged over night with record banking growth. Over 65000 Crores deposited in 15000 JAN DHAN YOJANA bank accounts in record 15 days time and likely to double/triple by end of December, 2016.  On record its great achievement for Government and claim that the objective of banking with poor is achieved.     GOI committed a strategic mistake by...

DEMONETISATION – AB THO BATAO MODI JI.....ACHE DIN KAB AAYENGE? While PM was addressing the nation and announced demonetization of higher denomination currency on 08.09.2016, we were having dinner in a hotel with a very close family came from Delhi. Like any other law abiding citizens, we all welcomed the move and felt that it is a historic day in Indian history.  Our friend wanted to clear the bills in cash and approached the counter and they refused to accept the higher denomination notes. With great difficulty we could convince them to accept cash. Next worry was payment for early morning taxi to airport. At present my better half is on USA visit to spend some time with children, I am compelled to hold petty cash on daily basis to meet food and other expenses.  I searched for small denomination currency and could gather about Rs.400/- in change & another Rs.700/- notes. Till that moment it was neglected and suddenly became precious. As I was heading for v...

ARE WE HEADING FOR ANOTHER UNFRUITFUL PARLIAMENT SESSIONS?? In a democracy, parliament is the highest decision making body. The demonetisation of currency is historic decision and it is the prime responsibility of Government to take public into confidence by discussing, deliberating on the concept, implementation strategy, road map, and the current situation etc in parliament and see that entire nation is taken into confidence in “Black fight”. Unfortunately the ruling party is trying to finds some lame excuses to avoid fruitful discussions and certainly it will not go well with democracy. Mr. Azad’s statement on loss of lives related to currency exchange and he relating it with oori killings need not be colored as nation’s integrity issue. The spirit behind the speech has to be well taken rather than diverting the attention on technical ground. Government shall discuss the problems in detail and take proper steps to avoid inconvenience to public. It is not proper on the ...