Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Friday, 5 February 2016

THIS CANNOT BE TRUE !


WHAT  ?

*   RBI recommending to Finance Ministry to introduce currency notes of Rs 5,000 and Rs 10,000 denominations

REASON  GIVEN

*  Inflation has left little value in notes of Rs 500 and Rs 1,000

*  It will be easier to carry large sums of money in higher denomination notes

*  Less cost since no of notes to be printed will come down by a factor of 10

CURRENT  SCENARIO  ELSEWHERE

Highest denomination notes in :

*   USA....... 100   Dollars

*   UK......... 100   Pounds

*   EU........   500   Euro

*   China.....  100   Yuan

Of course , Japan does have a 10,000 Yen note which is rarely seen

And we all know how corruption has engulfed the Russian Economy with a 500,000 Ruble note  !


WHY  IS  THIS A BAD RECOMMENDATION  ?

*  Because , by facilitating hoarding / carrying huge amount of CASH in a inconspicuous manner , it will encourage
    CORRUPTION through BLACK MONEY transactions , without fear of being caught

*  Funding of political parties with un-accounted money will become rampant

*  More money will pour into non-productive assets such as LAND and GOLD

*  Hawaala transactions will flourish

*  More CASH will flow out of the country

*  Counterfeiters will have a hay-day  !

*  Terror outfits will find it easy to fund themselves

*  It will slow down change-over to a CASH-LESS economy through e-payments


WHAT IS THE CORRECT STEP ?

As I have repeatedly recommended over the past year ,

*  Discontinue paper-based currency notes of Rs 500 and Rs 1,000

*  Introduce plastic currency notes of Rs 500 / 1,000 which are embedded with RFID sensors

*  Assign to each such note, a IP V 6.0 address , linked to its unique note number

*  Set up a IT-enabled Technology Platform which will constantly monitor any accumulation of Rs 500 / 1000
    RFID embedded notes in excess of Rs ONE CRORE within an area of ONE square meter


I hope what I heard last evening on a TV channel was merely a rumour  !

But , even if there is a remote thinking in this direction , it must be nipped in the bud  !

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hemenparekh.in / blogs


06  Feb  2016

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Make    Yourself    Heard

Dear Visitor :

It is time for YOU to speak up - and demand that YOU are heard

By emailing this suggestion - incorporating your OWN improvements - to the following Policy Makers

(  Just multiple copy all the following Email IDs into the Recipient column of your Outlook and Copy / paste this suggestion in the Message Box ) :


    narendramodi1234@gmail.com; 38ashokroad@gmail.com;ajaitley@del5.vsnl.net.in; jayant.sinha19@sansad.nic.in;piyush.goyal@gov.in;nitin.gadkari@nic.in; spprabhu1@rediffmail.com;bandaru@sansad.nic.in;smritizirani@nic.in;nsitharaman@nic.in; ravis@sansad.nic.in;sureshprabhu@irctc.co.in;prakash.j@sansad.nic.in;secy-ipp@nic.in; amitabh.kant@nic.in; shaktikanta.das@nic.in; rsecy@nic.in; adhia1981@gmail.com; ceo-niti@nic.in; atul-chaturvedi@nic.in; uma.bharati@sansad.nic.in; d.pradhan@sansad.nic.in; rprudy.office@gmail.com; rudypr@rediffmail.com; eam@mea.gov.in; mosvks@mea.gov.in; mvnaidu@sansad.nic.in; mnaqvi@sansad.nic.in; rao.inderjit@sansad.nic.in; mljoffice@gov.in; sadananda.gowda@sansad.nic.in; ministerminority@gov.in; najmah@sansad.nic.in; minister-ca@nic.in; ramvilas.paswan@sansad.nic.in; gandhim@sansad.nic.in; akumar-alpha@sansad.nic.in; jpnadda@sansad.nic.in; hm.moca@nic.in; geete@sansad.nic.in; simratbadal@yahoo.com; ns.tomar@nic.in; rmsingh@sansad.nic.in; tc.gehlot@sansad.nic.in; dr.harshvardhan@sansad.nic.in   


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