MINT ( 20 May 2016 ) carries a news report titled :
RBI proposes new banknote design
Following is an extract :
" Banknotes in India may soon carry a NEW LOOK, with the central board of the
Reserve Bank of India (RBI) on Thursday recommending to the government a new
set of DESIGNS
The
central board of the RBI also took stock of the macroeconomic situation and
reviewed issues related to CYBER SECURITY and CURRENCY MANAGEMENT, at a meeting on Thursday
The
RBI in a statement said the board discussed the national and international
macroeconomic scenario and also reviewed the working of specific areas of
operations of the RBI, including information technology (IT) and cyber
security, and establishment of an IT subsidiary of the RBI "
Will , RBI go beyond a NEW LOOK for the banknotes , and seize this
opportunity to make these NEW DESIGN notes to enable BLACK MONEY MANAGEMENT , and
the CURRENCY MANAGEMENT ?
Easily possible if proposed IT subsidiary of RBI , implements my
following blog dt 09 May
2016 :
Currency Maps of India ?
When in 1949 , George Orwell wrote his all-time classic "
Nineteen Eighty Four " , he had not envisaged Tablets / Smart
phones
So , he imagined that TV screens would keep a watch over mankind
, 24 hours , like CCTV cameras
Nor did Tim Berners Lee , envisage IoT ( Internet of
Things ) or BIG DATA analytic tools ( MapReduce / Hadoop ), when he invented
World Wide Web
And neither did Robert Easton , envisage RFID sensors when he
invented GPS in 1967
But today , with wide-spread usage/application of these
technologies, it is not difficult to envisage :
CURRENCY MAPS OF INDIA
No doubt , all of us have seen following types of Maps ( for
India / Asia or for the entire World ) , on TV Channels and even on our tablets
and smart phones :
# Weather Maps , showing :
* amount of rain fall (
inches / mm )
* location wise temperature
intensity ( *C / *F )
* topography ( heights of
mountains / depths of valleys )
* Cloud Formations and
direction of Storms and landfall locations
* Wind Patterns ( velocity
in km per hour )
* Ocean Currents in
Atlantic / Pacific ( direction / speed )
* Ice Cover over Antarctica
/ Arctic Region ( sq km )
# Space Maps , showing :
* Geological formations on
Moon / Mars / Mercury / Asteroids
* Night illumination in
different parts of world as seen from Skylab
* Galactic formations ,
billions of light years away
And of course , Google Maps of all types ( including those
peering into our bedrooms ! )
Given this state of art ( and of science ) , it is not difficult
to envisage ,
following types of CURRENCY MAPS of INDIA ,
showing aggregate value of Rs 500 / 1000 Currency Notes ( ie : currency density
of Rs 1 million / 1 billion / 1 trillion / any figure of your liking ! ) in :
* Any given Street / City / State
* Premises of any Car Dealer / Jeweler Shop / Real
Estate Agency / Mall /
Race Course / Builder ( any office /
housing location of your choice )
* Any Airport ( a million Rupees in Rs 500 notes
weigh only 2.2 kg ! )
* Any Safe Deposit Vault of any bank
With the existing technologies , it is even possible to plot the
movement of Rs 500 / 1000 currency notes ( just one note or a thousand notes )
on a GPS map of India , to determine its direction and velocity ( Currency
Currents )
In real time , too - 24*7 !
All of the above is possible to achieve within 6 MONTHS ,
by :
* Abolishing existing paper notes of Rs 500 / 1000
* Replace these with plastic notes , embedded with RFID
sensors
( can be embedded into existing 3 mm silver-colored
security wire )
* Allot a unique IP V 6.0 address to each such note linked
to its serial no
* Develop / host a Technology Platform , based on GPS
mapping system
* All smart phones to carry GPS locator ( cannot be
switched off )
( anyone carrying a Rs 500 note in wallet , also
carries a Smart phone ! )
Of course , Currency Map App ( to be named, " Currency-Cure
" ? ), available to general public on their smart phones , will not be
able to zoom-in / drill down , under 1 sq km area, to protect individual
privacy ( this can be done , only by authorized officers of Income Tax Dept /
Enforcement Directorate )
If some of you think my suggestion is impractical , consider
following :
A division of Master Card ( called , MasterCard Advisors ),
aggregates and analyzes , 65 BILLION transactions from 1.5 BILLION card-holders
in 210 countries , in order to divine , business and consumer trends !
And only 2 days back , Shri Raghuram Rajan , RBI Governor said :
" It is because money has no odour, because it is the
great equalizer , that so many people across history have been able to acquire
resources and invested them to make the world we live in
Rather than prohibiting the use of money and wealth , let us
think about increasing society's tolerance for its use "
Today's Hindustan Times quotes a Income Tax officers as follows
:
" The taxman will soon start matching your IT returns
with your possessions
The Government has started collecting data from various sources
and when this is done and the data has been sifted through , action will begin
This drive is a salient feature of the tax department's agenda
to curb under-reporting of tax and expand the tax payer base in the country
"
And two days back , the person who leaked PANAMA PAPERS (
11.5 million digitized documents ) , remarked :
" Digitization will bring in a revolution "
I would like to add :
{ RFID sensors in Currency Notes + IP V 6.0 URL +
GPS + HADOOP } ,
will end BLACK MONEY and CORRUPTION , in India
( without needing to pass any bill in Rajya Sabha ! )
I do hope , Shri Arun Jaitley-ji will take note !
-------------------------------------------------------------------------------------
21 May 2016
www.hemenparekh.in / blogs
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