Ban on Rs. 500 and Rs. 1000 notes
Machiavelli once said, "A king has to be a fox as well as a lion". Modi proves this with his action. He is a man of action, always on the move, keeping one step ahead of his opponents be it other political parties or ill-thinking nations.
However, his current move is his biggest reform in the two years of tenure. I am initiating this thread to discuss the need, urgency and preparedness for this ban on rs. 500 and rs. 1000 notes.
In my view, the following could be the reasons behind such move.
1. Pakistan's continued effort to weaken our economic growth by proliferating counterfeit currency could be a primary motive. In the current circumstances, this is one of the best alternative to person to person war on the border. Pakistan knows that as long as India remains economically strong, Pakistan can not bleed it even by one lakh cuts, forget about thousands which its policy claim.
2. UP Election: This could be an even stronger motive. Samajwadis have filled their stash with poor man's money. This was going to be their biggest weapon to win the election. With this move, Modi has stumped the cycle riders and lal topi dhari chors of U.P.
3. Terror financing: This would be a thrust move to shift from cash economy to card based economy. Such move will clog the terror financing channels.
4. Fulfilling election commitment, bringing out black money and making corruption free India are other moves.
However, big questions remain unaddressed. Are we prepared for this move? Have banks planned enough to deal with the change? Would it not slow down economic activities in the country? What if people continue using Rs. 500 as usual in their closed circles as currency? Why rs. 2000 note and new series of rs. 500 is planned? Is there anything which Mr. Modi is hiding from the nation? Are we under any sort of economic threat from neighborhood? Are we in a state of economic war? Is country prepared to make this leapfrog jump from paper currency to card currency?
A lot remains unsaid and lot more will unfold in coming days. Let us keep our fingers cross and wait to see which way the camel will sit?
With this, I invite you all to comment on the issue and provide your crucial insight on the issue. more
However, his current move is his biggest reform in the two years of tenure. I am initiating this thread to discuss the need, urgency and preparedness for this ban on rs. 500 and rs. 1000 notes.
In my view, the following could be the reasons behind such move.
1. Pakistan's continued effort to weaken our economic growth by proliferating counterfeit currency could be a primary motive. In the current circumstances, this is one of the best alternative to person to person war on the border. Pakistan knows that as long as India remains economically strong, Pakistan can not bleed it even by one lakh cuts, forget about thousands which its policy claim.
2. UP Election: This could be an even stronger motive. Samajwadis have filled their stash with poor man's money. This was going to be their biggest weapon to win the election. With this move, Modi has stumped the cycle riders and lal topi dhari chors of U.P.
3. Terror financing: This would be a thrust move to shift from cash economy to card based economy. Such move will clog the terror financing channels.
4. Fulfilling election commitment, bringing out black money and making corruption free India are other moves.
However, big questions remain unaddressed. Are we prepared for this move? Have banks planned enough to deal with the change? Would it not slow down economic activities in the country? What if people continue using Rs. 500 as usual in their closed circles as currency? Why rs. 2000 note and new series of rs. 500 is planned? Is there anything which Mr. Modi is hiding from the nation? Are we under any sort of economic threat from neighborhood? Are we in a state of economic war? Is country prepared to make this leapfrog jump from paper currency to card currency?
A lot remains unsaid and lot more will unfold in coming days. Let us keep our fingers cross and wait to see which way the camel will sit?
With this, I invite you all to comment on the issue and provide your crucial insight on the issue. more
Viewed by 13
Political genius Modi Ji ki Jai ho..damad of Italian corrupt Robert Vadra and likes will be suffering heart attack...paves the way for thundering win for BJP in UP and other states..now the sickular fools of Maha murkha ghatbandhan can leave politics..afterall Bihar West Bengal Kerala was fought and won illegally by corrupt opposition parties with hoardes of black money...Thank you dear Avatari Modi Ji... more
Nov 08
The Conditions opted by RBI and Government in regulating the process of introducing new currency and the method of exchange and its conditions really constitute a well and wise application at one stretch . I just heard the best news which we all members anxiously waiting for the best in many ways . All the members of these circles feel the same joy of 2014 Election result which lead the Congress below Ten % and their allies at shock . more
Nov 08
Kudo,s to Shri Modi . A bold step with Two Edged cutter ,a good reform for counties economy . more
Nov 08
