Friday, November 18, 2016

Re: [IAC#RG] BJP high ups get new money first, + RBI selective leaks

Dear Shri Gaur,

I will reply to your following query.

"Earlier the previous Govt. had asked all currency notes prior to 2005 to be changed and gave enough time and people complied. Why can't they do the same?  "

The info available to IAC is that this step of demonetisation was actually to take place in Jan-Feb 2017 and timed for elections. The plan was for 2,000 notes to be printed in large nos and the Rs. 500 to be printed in bulk by then.

However, the plan was leaked around 25th Oct onwards. A massive PR exercise was launched to contain the damage in the media, however, some channels like NDTV-India (or their editors) refused to submit - we know what happened next - they were banned on flimsy pretexts.

Therefore Team Modi was left with no option but to prepone this by 10 weeks.without sufficient notes in stock. The Govt is fast running out of cash. From Monday limited quantities of Rs. 500 will start coming in just to fool the public.

Small / Medium Industry is grinding to a halt without working capital, Workers are going back to native place and since no money is being remitted home they prefer to be with family.

It is now a very interesting time because anything can happen. You can see that IAC has always been 2 days ahead of the news.


On Fri, Nov 18, 2016 at 4:16 PM, Gaur J K <> wrote:


Both points mentioned by you are relevant in the present context.

1. Can anyone believe that a decision taken ten months ago would remain secret from the  Senior politicians and the

 senior officials in the Ministry of Finance and RBI. It also means that the former Governor Raghuraman was also aware and either he did not agree so left or pushed to leave to make room for the present Governor who was not only working for Reliance group but also Kenyan born . The Governor has either been asked to keep low profile or the role of RBI has been taken over by the Ministry of Finance( Revenue secretary who has been briefing from the day the Scheme was announced. 

2. It is not reasonable to believe that BJP as a political party receives all funds from individual or corporate donations through cheque and there is no cash components. If you see the trend of discussion in Parliament,all opposition political parties speak of the selective leakages.

In Mumbai what the Shiv Sena chief has said is very true. The common man is suffering the queue in the banks continue to be long whether SBI or HDFC the Senior citizens included. In short it is very badly planned and managed scheme. Earlier the previous Govt. had asked all currency notes prior to 2005 to be changed and gav enough time and people complied. Why can,t they do the same? 

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