Re: good idea..
by bigben bigben on Sep 20, 2009 06:13 PM
did you read this paragraph?
"A recent DNA report, quoting an RBI official, said that the people in India fold notes and polymers note cannot be folded easily. Also, a small tear can make the currency bill rip into two halves, the report added."
Steps to reduce corruption and dealing with fake currency. 1. Above Rs. 100 notes are used for giving bribes and it increases corruption. 2. High value money is more easy to be counterfeited which damage economy. 3. All high end charges above 1000 should be compulsorily made to be paid by Credit card or Bank cheque to check bribing. 4. More important step is that above some threshold value of property, all property dealing should be made through bank only. Reduce paper rupee notes and increase metallic coins of Rs 10, 25, 50 and 75.
change currencies every 1 year. incorporate a currency detecter which can detect atleast 999 permutations for changed currencies so that backend detection doesnt has to be revved up every year. Every year change the currency by changing one or more parameters. The currency of previous year shouldnt be allowed to use in the forthcoming years. The one's who have currency at the end of the year should submit it with banks and take new ones. The ones coming up with bulk cash at the end of the year for exchange or deposit should be asked to submit proof of obtaining funds. All Outward remittances from India should be All people travelling out of India shouldnt be allowed to keep any cash on them. Instead the guideline should be to carry a banks cash card or travellers cheque only. Any cash found on anyone in international terminal should be confiscated & immediately the fund should be diverted to PM Relief fund.
Re: the only way to keep ahead of counterfieting is technology
by Sriranjan Tadimari on Sep 20, 2009 05:41 PM
Logical thoughts..but how rational is it?
Re: the only way to keep ahead of counterfieting is technology
by nitin tomar on Sep 19, 2009 10:36 AM
In other countries currencies are changed once in 3 years.India should also do that,by doing this black money with lots of people in India can be controlled.
Re: the only way to keep ahead of counterfieting is technology
by janijohn janardhan on Sep 19, 2009 10:42 AM
for the benefit of all sceptics concerned the amount of fake currency circulating in India as per last report is equal to GDP. which is 1.3Trillion Dollars. add to that the black money circulating which is 2.3Trillion US$. The initial cost of such method will be ultra high but the benefits will far exceed the cost involved & make system clean.
Re: the only way to keep ahead of counterfieting is technology
by pappu pager on Sep 19, 2009 10:37 AM
dear its not feasible to change circulated currencies every year.
Re: the only way to keep ahead of counterfieting is technology
by angshu rai on Sep 19, 2009 10:42 AM
are your serious??? 1)"incorporate a currency detecter which can detect atleast 999 permutations for changed currencies" what do you even mean by that? 2)"The currency of previous year shouldnt be allowed to use in the forthcoming years" do you have any idea how many currency notes need to be replace? who is gonna bare the cost involved in doing so, are you planning on sponsoring this multi billion dollar project? and what exactly do you suggest to be done with the old currency bills? burn them? currency notes are not made out of space for free, you know that right? 3)"All people travelling out of India shouldnt be allowed to keep any cash on them": we incidentally live in a free world and India is not exactly turning into a jail, i keep my money the way i want it (as long as i can prove my worth)
please think before you make celestial suggestions.
Re: Re: the only way to keep ahead of counterfieting is technolo
by janijohn janardhan on Sep 19, 2009 10:49 AM
exactly. thats how same logic got used to stash trillions of dollars in swiss banks, mauritus & several tax heavens. Tax payers money. You can change permutations if you use "Polymer notes". This is FYI
Re: Re: Re: the only way to keep ahead of counterfieting is tech
by janijohn janardhan on Sep 19, 2009 10:53 AM
& to top it our Law of land "also meant for free world inhabitants" say Leaving India
Rupees are not allowed out of India. Exchanging them before you depart is the best & only option. Banking facilities, for the conversion of rupees into foreign currency are usually located in the same airport hall as the check-in counters. However this law is blatantly misused by all
Re: Re: Re: Re: the only way to keep ahead of counterfieting is
by v v on Sep 20, 2009 07:30 PM
this is in accordance with RBI guidelines - available on the rbi website
" 23. While going abroad how much Indian currency, in cash, can a person carry?
Residents are free to take outside India (other than to Nepal and Bhutan) currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs. 5,000/ - per person. "
Re: currup
by nitin misra on Sep 20, 2009 06:52 PM
Hope you are advising netas and babus and previlaged people of India.Comman public has no choice but to remain faithful to our country.
