Re: Why Rs10 plastic notes ??
by Telveer on Sep 17, 2009 09:21 PM
Since this is the first time, it is best to try the technology on Rs. 10 notes, and then apply the technology to higher denominations. I agree that this will make it much more difficult (but not impossible) to print fake currency notes.
Secondly, some users suggested using digital cards only (credit, debit, smart card, whatever) for all transactions. Even in developed countries like US and Japan, where practically everyone has a card, paper and coin currency is very widely used. For India to get rid of paper and coin currency is highly impractical, to put it mildly. Some others would call the idea ridiculous and preposterous.
Re: Tough time ahead for Taxman
by Ashok Kumar on Sep 17, 2009 09:27 PM
Agreed... Hence forth need not go to Swiss Bank to hide the money. If people has a Water tank in his/her compund. that would be more than sufficient.
I think as the notority on many fronts are fast crippling our nation, we should resolve such issues before even considering to send a manned rocket to moon.The billions wasted that way, will not fill an empty stomach of millions.Let our leaders first tackle issues that makes poor more poorer.Before jumping into recovering hoarded money in Swiss Banks, let them unearth truck loads of currency stacked in our politicians and other corrupt officials' homes.Like changing the passwords, we should keep changing the designs of currency notes as well once in a decade atleast.At one point - during the regime of Morarji Desai,there was rumour that currency notes of 100 denomination would be replaced without notice, and I think many had heartattack. Now it should be far worse.Besides, introducing plastic notes, a currencyless society must be developed.For e.g.pettycash is restricted to few hundred only in industries, as more cash handling encourages more affiliation to it and leads to corrupt practices. Sivaproactive
We can seek the experience of Singapore with plastic currency. Yes, it is longer lasting & washable but then if it is easily reproducible by our enemies then how does it give us better security ? We will end up paying a heavy cost with no measurable returns.
