Its great news that we will soon have plastic currencies. Govt should announce the end-of-life for paper currency, and exchange should be only with Banks. It should also introduce Debit Cards, ATM cards and Electronic swiping cards whereever public cash transaction is involved in Government offices
Make it compulsory to pay 100% payment through cheque or debit card or credit card. No currency should be kept in circulation. Each and every person should operate through Bank. No black money - No fake money - no tax evasion - no crime
Re: BEST WAY TO REDUCE CURRENCY PRITING COST & FAKE NOTES
by Milton DSilva on Sep 18, 2009 09:51 AM
Easier said then done, but worth a try. Actually, there is a way to to this by promoting the concept of cash cards in combination with mobile phones, but be sure our law makers would put as many obstacles in this path as they could...
Re: BEST WAY TO REDUCE CURRENCY PRITING COST & FAKE NOTES
by Speed on Sep 18, 2009 10:11 AM
India is not communist country to do this u want cheque for 1 re transaction?
Re: BEST WAY TO REDUCE CURRENCY PRITING COST & FAKE NOTES
by Speed on Sep 18, 2009 10:12 AM
If u want to make call at public booth will u provide 1 Re cheque to make call? How much of paper wasted?
Re: BEST WAY TO REDUCE CURRENCY PRITING COST & FAKE NOTES
by Murli Ramchandran on Sep 18, 2009 10:22 AM
Mr.Sunil have you never heard about fake cheques,fake debit cards and credit cards.Its easier to defraud a person using all these compared to real currency.There is a way where the currency protection is done using different changes in pattern of printing.With fake debit and credit cards, its foolproof frauds which even the best of crime detectors find difficult to trace let alone detect it and solve it.We are truly living in the space age where everything works in space age speed.
Re: BEST WAY TO REDUCE CURRENCY PRITING COST & FAKE NOTES
by sak on Sep 18, 2009 09:53 AM
stupid, you will pay to rickshaw, nearby small shop or road side vendor by credit card. No developed country has made 100% payment through cheque, then how can India even think where 70 % population is living in rural areas and people do not have a bank account even.
Re: Re: BEST WAY TO REDUCE CURRENCY PRITING COST & FAKE NOTES
by Milton DSilva on Sep 18, 2009 10:01 AM
It is your ignorance my dear friend...actually it is the very same rickshaw-wallas and illiterate villagers who are spreading the mobile revolution and who would happily adopt this system...imagine NREGA benefits going directly to the poor cutting out the middlemen...
Re: Re: Re: BEST WAY TO REDUCE CURRENCY PRITING COST & FAKE N
by nilesh singh on Sep 18, 2009 10:19 AM
No harm in trying out new ways...but over dependence on technolgy at times back fires.. some things are full proof at planning stage but very difficult in execution...]'
Well, idea is not bad..its same story as pager vs mobile.
Where experts predicted that indians would not go for costly Mobile connections therfore pager technology would be much more successful in india but itv was completely different when it came on ground and today India has one of the largest set up in GSm & CDMA consumer. Similarly having a economy which runs without currency is not difficult but how are you going to address the isse of people who are "Physically handicaped", Blind etc...
Re: BEST WAY TO REDUCE CURRENCY PRITING COST & FAKE NOTES
by josh vin on Sep 18, 2009 10:23 AM
The concept is good. But cannot be implemented as is. We can try this option on trial basis for transactions above 1000 Rs and then based on the sucess can be brought down to 100 Rs.
arey do whatever you can, go to any heights, make any technology, use your brains, do everything but finally we all know that there is one place in our planet that can make anything & that is
" MADE IN CHINA "
KUCH FAAYDA NAHI, BUT THE WORST PART IS ALL THE COMPANIES IN THE WORLD IS MAKING THEIR PRODUCTS FROM CHINA MAKING THEM POWERFUL, CHINA KO HI BANDH KARO
Re: no use
by satish sherma on Sep 18, 2009 10:14 AM
WE ACTUALLY OPENED UP THE ECONOMY BEFORE THE CHINEESE DID. BUT BACK IN 1991 OUR BABUS WERE NOT READY, BECAUSE THEIR CHILDRENS WERE SCHOOL GOING & OTHERS WOULD HAVE GOT THE BENIFITS. NOW WHETHER IT IS IN IT, AVIATION OR ANY OTHER PRIVATISED SECTOR YOU WILL FIND ONLY CHILDRENS OF BABUS. CHECK YOURSELF IF I AM WRONG. DECENTRALISING POWER TOTHE THE DISTRICT LEVEL IS THE ONLY ANSWER FOR PROSPERITY & JUSTICE TO EVERY BODY. OTHERWISE ONLY UP ELITE WILL CORNER ALL THE JOBS IN INDIA
RBI wants to tackle Fake Currency & Black Money....... Both Exist mainly in Higher denominations i.e. Rs.1000, Rs. 500 & Rs. 100. So RBI should introduce these botes in These denominations. Also, They should compulsory change all notes in market in that denominations thru banks. This will force people to bring all their currencies to bank for exchange & thus black money may be traced - for fear of being extint. Old currency should become de-recognised in 6 months after introduction of these notes. Also, Rs. 10 in mainly with poors, and changing the notes from them will become more difficult, and if both type of currency co-exists in market, their will be more confusion. Also its heard, that RBI is trying to promote Rs. 10 coins, then why these notes for Rs. 10????
Re: why these notes for Rs. 10????
by JOYDEEP BHATTACHARYA on Sep 18, 2009 10:58 AM
Well said Sudeep. You only caught the actual easter egg in this new proposal :) It's like Software industries narketing guys.They always give customers a solution which needs to be bit modified later, so that IT corp can get another business out of that new change!! GOVT also will folow same path.It's a deliberate attempt to create chaos by replacing 10/- note. the profit will go to these plastic deal winner :) Question is -who fakes? business men or farmers?? it need's to be addressed first.Solution will not be big tough then.
I giving this suggestion because Duplicate notes are not printable as bad as some government forms are Printed in Nasik Postal Press. If some one try to duplicate it will be complicated job for fake note printers and if they do that notes are easliy noticed by common person becuase of its quality of printing (duplicater always try reach its original quality if its printed in postal press nasik thay cant copy that quality)
