Changing Currency Colour effective Apr 1, 2017

One of the inputs from the circle to address Black Money was to change the colour of 500 and 1000 rupee notes effective April 1, 2017.

Such a move, if implemented by the Government will lead to a drastic reduction in the Black Money in the economy.

With this all citizens with these notes will have to visit the bank, declare source of income and exchange the notes.

We seek your inputs on how something like this should be implemented. Also, how should a scheme like this be structured so the black money can be deposited and utilized for nation building.

We look forward to your inputs! more  

View all 72 comments Below 72 comments
Dear All, changing color of currency!!!!!!!!! All notions buy ink & currency paper from one source, I have read long time back. So that can not be a solution for unearthing Black Money. I have read a lot about various means of generation of Black Money & MOney Laundering. It is multiple times of Global GDP. I doubt if most of the people who participate here have such deep understanding. So to Bringing back Black Money to Jan Dhan account is POSSIBLE through some good strategy I have researched that can be shared only with actionable authorities CLOSE TO HEART. The present Government of India Can do this. I keep writing this here for that purpose. I have Founded a Tad Dvam Asi Trust with objectives: to Democratically awaken the world to leave a civilized world to our own children, to Eradicate Malnutriton, to Eradicate Cross Border terror Nurseries as Business Houses, to Eradicate (Plug & Bring back) Black Money, all in a strategy, that cannot be shared in public platform please sirs. So if any one in this forum can arrange a meeting with Shri Modi Ji, his Cabinet, Shri. Amit Shaw Ji, Shri. Ajit Doval Ji, we will be doing the greatest service to the world Humanity. Thank you, Yours sincerely, K.S.Nagarajan. Founder Trustee, "Tad Dvam Asi Trustee Chennai EMail: nagarajanks27@yahoo.co.in more  
This will be a commendable move 60 yrs of balckmoney will come out more  
The best way will be to introduce universal invoicing with link to identity(Aadhar) of persons involved in transaction: 1. Make all transaction beyond Rs 20000 compulsorily electronic. 2. Provide relief of 0.5% tax for all electronic transactions 3. Make real time credit of tax component to Govt. coffers. 4. Free seller from filing paper return except cases of disputes more  
While various measures suggested by friends in the Local Circle here may the government continue trying, but unless the plug loopholes in the rules and procedures to generate black money the menace of black money will continue. Also, we cannot forget that today something like 75%-85% of black money is the base of India economy, besides its contributions to electioneering, capitation fees for admissions to professional colleges, purchase of movable and immovable properties, ostentatious weddings, etc. In today's circumstances cited above, I am not against hoarding of unaccounted cash or yellow and silver metals at homes or other safe places and the likes of BKBansals should not have been raided and investigated and finally forced to commit suicide. First stop generation of black money and then only talk of measures to unearth unaccounted or black money. And, it is the time that Supreme Court intervenes and put a brake on investigations by the CBI/Income Tax and others. more  
Only colour exchange will have no extra cost to Govt.but the recording of such exchange after certain limit will increase National Income by having Income tax thus charged. After that Govt. has a Record of Money with the Persons. These Recording must be done with some National Unique Number of that Person who get exchange money. more  
Post a Comment

Related Posts

    • Congratulations LC members

      The biggest reform to stop private hospital loot has been ordered by supreme court. Prices for various medical procedures have to be standardised Yes, 7 years after we raised the issue i...

      By Sudesh Rai
      /
    • Airlines delaying and damaging bags often

      Excellent survey released by LocalCircles on how airlines are handling baggage. https...

      By Reeta Kumar
      /
    • Views on Unsubscribing English Newspaper

      My husband and I are tempted to unsubscribe all English newspapers as we find news to be increasingly biased in favour of businesses in ET Mint etc and in TOI HT in favour of Governments as oppose...

      By Shikha Chhabra
      /
    • Update from Income Tax Dept

      References have come to the notice of the Income Tax Department (ITD) regarding apprehensions about a recent communication sent to taxpayers pertaining to mismatch of transaction amount shown in In...

      By Aditi Jain
      /
    • Nutraceuticals and herbs

      Under the category of nutraceuticals and herbs all kinds of stuff is sold to people in India. Companies like Patanjali, Himalaya and hundreds of others are taking advantage and in the name of immun...

      By Nikita Goyal
      /
    • Fantastic pesky call report by our circles

      What a good honest fearless report the LC Manager has brought out about pesky calls in India…

      By Shailesh Deshmukh
      /
    • Ban cotton candy pan India

      Ban Pink Cotton Candy! The dye in it can cause cancer. Why only Tamil Nadu and Puducherry? The entire country, should ban pink cotton candy that contains Rhodamine-B, as it causes cancer...

      By Sujata Singh
      /
    • Buy Now Pay Later services is a Dark Pattern

      Buy Now Pay Later is a financing service available online and offline when shopping. While it is helpful to some it is a major dark pattern and LC Manager must escalate it to RBI when yo...

      By Amit Mishra
      /
    • Electoral Bond Transparency

      Was first demanded in our circle only Ruchika ji https://www.lo...

      By Amit Mishra
      /
    • Supreme Court is still alive friends

      ELECTORAL BONDS UNCONSTITUTIONAL 1. Indian Supreme Court has scrapped the entire scheme as violative of Constitution and fundamental rights. 2. All new issuing by SBI to stop...

      By Ruchika L Maheshwari
      /
    • Major fraud by competitive coaching classes

      Almost all the competitive coaching classes FITJEE, Akash-Byjus, Allen etc are engaging in a major fraudulent activity for decades and the education ministry of central or state govts have turned a...

      By Shailesh Deshmukh
      /
Share
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)