Friday, 11 November 2016

One Innovation would have sufficed !


As far as the Currency Demonetization is concerned, newspapers are reporting following tricks , on part of those holding OLD notes :


TOI / 12 Nov / Page 10 :


#  Many employers have begun to pay their staff in advance , including salary for the next one year , in CASH


#  Some traders are depositing their CASH as business revenue to be shown as sales done before Nov 8 , but payment received thereafter


#  Wholesale traders are reporting cash-in- hand in their ledgers to legitimize previously unaccounted CASH and have it deposited at a later date


Ajay Agnihotri, manager of State Bank of India's Fatehabad Road branch in Agra, said,

"There are around 15,000 Jan Dhan accounts at our branch, and 30% of the account-holders have deposited amounts of up to Rs 49,000 since Thursday (when banks reopened in the wake of the demonetisation announcement). We are quite sure that this percentage will go up in the coming days."


TOI was able to track a few account-holders used for this purpose. One of the victims, who had deposited Rs 49,000, said he was promised Rs 500 in return. He would have to return the rest of the money in some days .

#   On Nov 8 / 9 / 10 , Gold Jewellery was being sold for Rs 60,000 per 10 grams ( a 100 % hawala rate ! )


#   Thousands of people purchased " Season Tickets " for 1 year / booked advance wait-listed tickets in trains / bought air travel tickets ( of course, all with OLD notes ! )


#   A Dollar was getting " sold " for Rs 110


#   Persons registered as " FARMERS " were in great demand , since their income is Tax-Free !

(  I suppose in our current Lok Sabha , 39 MPs who have declared their profession as " Agriculturists " and 5 MPs who have called themselves " Farmer " , must be in great demand by their co-members ! )


No doubt , many more methods will be reported in the days to come  !


Now the nightmare !


DNA / 12 Nov , reports :


" Based on intelligence inputs, there is a strong apprehension in the government that there could be organized attempts of robbery , including armed robbery of banks , ATMs and loot of CASH carrying vans , especially by the Mafia cartels who have lost their Black Money because of sudden demonetization "


On Thursday , Economic Affairs Secretary , Shri Shaktikanta Das said at the Economic Editors' Conference :


"  In due course , Rs 1,000 notes will come back in the market with new dimensions , new design and new colour "


Dear Shri  Das  :


It is still not too late to implement my following suggestion ( sent to you , almost ONE YEAR ago )


 This one simple INNOVATION on the part of the Government , would NULLIFY, any - and ALL , innovations on the part of the BLACK MONEY holders !


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


Thursday, 26 November 2015

THEFTS  CAN  BE  OBSOLETE  



Yesterday ( 26 Nov 2015 ) , a Cash Van driver in Delhi , escaped with Rs 22 Crores worth of cash


Obviously this heist consisted of currency notes in denominations of Rs 500  and  Rs 1,000


Now such thefts would become a thing of the past if my following suggestion (  sent to Central Ministers /  Secretaries  /  NITI Aayog members  etc  ) , were to be implemented :


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


#   Internet of Things ( IoT )


     As each currency note of Rs 500 / 1000 , is getting printed , embed it with microscopic
     RFID chips



     Besides communicating with each other , these chips will also transmit their existence
     location , through internet , to cloud-based servers of Income Tax Department



     This will form a " NETWORK  OF  CURRENCY  NOTES ( NoC ) "


     You may like to call this Internet of Currency ( IoC ) , a sub-set of IoT  !




#   Internet Protocol Address System ( IP V 6.0 )


     Each Rs 500 / 1000 currency note must be assigned ( at the time of printing ) , its own
     unique Internet Address , using IP V 6.0


     This IP address should be linked with the unique Serial Number printed on each note.


     Since IP V 6.0 , will be capable of assigning   " 2 * 10 to the power of 128 ", no of  IP
     addresses , there is no danger of running out of addresses , even if we decide to extend

     this idea to Rs 100 currency notes !




Here are the most important  BYE - PRODUCTs :



*   No more possibility of fake / forged / counterfeit , currency notes !


*   Plastic currency notes will last 10 times longer !

    
    
This reform will enable the Central Government / Income Tax Department , to :


*    Continuously trace the movement of each of these higher denomination currency notes


*    Instantly locate any place ( using Google Map based GPS ) , where there is an
     accumulation of more than Rs 1 Crore worth of currency notes


     Such accumulation will be made to appear as a TAG CLOUD on the web site of IT Dept,
     like thousands of balloons floating on a map of India , capable of being drilled down to
     within 1 Sq Meter  !


     On each balloon , will appear a number announcing , " Amount of Cash here - Rs " !


     This will vastly simplify the task of Anti Corruption Dept / Enforcement Dept etc


Of course , RBI will need to allow 6 month's time to the owners of current paper currency notes of Rs 500 / 1000 , to get these exchanged with new plastic notes before withdrawal of the old notes from circulation


Now , would not that distribute the hidden , unaccounted wealth ! - a welcome fall out  !


But then such transparency might lead to break-down of social order / chaos


It may be a better / safer / saner solution for such balloons / tag clouds to appear , on a secret Mobile App , available only to the officers of Enforcement Department ( ED )



You may want to call this app ,  " BLACK-MAIL "  !


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

12  Nov  2016

www.hemenparekh.in / blogs







  

                                                                                                           

No comments:

Post a Comment