Song / Dance / Retro Step ?

A news headline in Hindustan Times ( 21 Oct 2016 ) reads :

" SEBI to make a song and dance about defaulters "

Fraudsters and defaulters who have failed to return investors' money

SEBI circular reads :

" Besides these agencies will have to make a proclamation of attachment / sale at or near the attached property on the beat of the drum or through loudspeakers "

SEBI is keenly aware that the " non-returned " money ( Rs 500 / 1000 currency notes ) is lying in a cupboard / cabinet / safe of the defaulter at his residence or in his safe deposit lockers in several banks

Now those " Singing and dancing Agents " employed by SEBI can beat their drums for only a couple of hours !

But , if those currency notes were embedded with RFID micro-sensors ( as repeatedly suggested by me during past 2 years ) , there would be no need to " beat those drums " to " shame the scoundrels " !

Those RFID embedded notes would announce their " accumulation " ( if exceeding an amount decided by SEBI / IT / ED ) , on a mobile app ( to be called , FUGITIVE ? ) , on the mobiles of all those residing within 500 meters of the defaulter - 24 hours - until he returns the investors' monies !

Now the BAD NEWS ,

Business Line ( 22 Oct 2016 ) carries a news that RBI is on the verge of introducing , a currency note of Rs 2,000 denomination !

A case of , " SEBI proposes , RBI disposes " ?

Will that not making it even EASIER to carry / hide , large amounts of CASH ( read , BLACK MONEY ) ?

Today , an amount of 10 LAKH Rupees in Rs 1,000 currency notes , weigh about 1.1 kg

In Rs 2,000 note , this will barely weigh 0.55 kg !  Light enough to be carried in your shirt pocket  !

On the face of it , this seems like a totally retrograde step

Unless , those Rs 2,000 notes are already embedded with RFID sensors

And , Government decrees that existing notes of Rs 500 / 1000 , will cease to be legal tenders , 6 months after introduction of Rs 2,000 notes and can be exchanged with the new notes during intervening period ( no questions asked )

We will soon know the " Agenda " of the Government  !

--------------------------------------------------------------------------------------------------------------------------------

22  Oct  2016

www.hemenparekh.in / blogs