Can’t we tackle fake currency with indigenously known technology?Posted: June 4, 2012
Can’t we tackle fake currency with indigenously known technology?
June 4, 2012India to learn from US ways to tackle fake currency notes
Don’t you think; it is common sense; that in vast country likeIndia; new technology to prevent; printing fake currency; can’t be a solution; until and unless old currency is taken out of circulation? In medical terms it is called sanitization? Sanitization; is killing all microbes; with out any discrimination?
The solution of fake-currency lies in sanitization of 500 & 1000 rupee notes?
Getting all good notes deposited in banks with in a time period of say 30 – 90 days and issuing debit cards to the depositors & facilitating all transactions above ten thousand through debit cards and smaller transactions through mobile phone transfers (avoids crunch of currency)? Making it compulsory to install debit card transaction machine in all commercial establishments with turnover of more than a lakh a day; and permitting transactions in multiples of 500 only (difference being transacted in smaller currency notes or mobile transfers)? Avoid use of paper currency to the extent possible and print notes using high technology to enable easy identification and keep their numbers with in manageable limits?
A rouge elephant can’t be controlled by sticks and dangerous microbes immune to known antibiotics with out sanitization?
Our government is capable of taking such steps? Indian problems should have indigenous solutions?
Most difficult thing in life is doing simple things? We should find simple solutions and political will to implement them?
It is similar to using Adhar to pay kerosene subsidy into the account of the beneficiary?
The bonus will be check on corruption?
Accountability at all levels makes a nation prosperous and safe?