Re: [IAC#RG] RBI confesses that demonetisation failed

9/9/17

It is so obvious that it was an ill-prepared operation because the RBI hardly had time to print and put in circulation the new notes.

it was badly timed for the same  reason for the people  but not for the Govt.as the objective was  to win UP election. But due to leak

age in the press it became a premature delivery.

There can be no arguement on the stated objects like un earthing of black money, elimination of fake currency, money laundring,control of terrorism and other anti social activities by starving them of funds. But now after 10 months is it not natural for civil society to take stock of which stated object has been achieved ?

Now that the RBI has finally given the figure of the bank notes of 1000/500 returned are about the same except about 16000cr short and they do not know how muh is fake currency, is it no obvious that all black money has been deposited. This data is now available for TAX authorities, who has deposited how much. In such a scenario can be Govt. not target only those whom it chooses to target.? 

Who will force the Govt. for white paper? the Parliament where the Govt. has managed to get majority in both houses and the scant respect the PM has shown in treating the opposition . Can there be bigger proof than the delaying tactics of the Govt. iin filling

consitutional post of LokPal or CVC or integrity  of these instituitions. 

When you speak of the stake ho;ders-who are they-civil society, Govt. Parliament and Judiciary? Is civil society not powerless against the might of the State?

Political gambles should be of managable limits as it was in case of Mr. Vajpaye though at a cost.

Econmic gambles if based on supporting data are less likey to fail because All Govt.s during the twentieth century are depending the economic forecasts'for formulating their policies.

JKGaur

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From: indiaresists-request@lists.riseup.net <indiaresists-request@lists.riseup.net> on behalf of Sant Mathur <santmathur@gmail.com>
Sent: Thursday, September 7, 2017 2:49 PM
To: IAC
Subject: Re: [IAC#RG] RBI confesses that demonetisation failed

 

Will the stakeholders figure out as to in what all manners,and to what extent(without getting into granular details), was the fraud perpetrated,through Demon?

Failure of an ill-prepared,ill-timed(or timed for extraneous considerations)scheme is one thing,and pre-planned perpetration of fraud another.

Guess work is no answer to serious issues.

The first demand needs to be to get a WHITE PAPER on the crucial issue,in time-bound manner.Impact of this scheme ,in standalone mode,is essential to be known ,and not when clubbed with GST,Surgical Strike etc.

Everything needs to be well quantified in the white paper,as etcs have no place therein.

Let there be admission that implementation was faulty, if the intention was good,and that no fraud took place.

if better alternatives to achieve the same lofty objectives(that need to spelt out,in no uncertain terms) were available,then why the same were not explored.

A decision tree,as also decision-matrix,as part of decision-making science, need to be disclosed.

Using demon,if the govt disarmed the opponents of their ill-gotten wealth,in cash form, then politics won and people/prosperity lost.

spm

On Wed, Sep 6, 2017 at 7:29 PM, Dr. J. K. Chaudhry <jkchaudhry@gmail.com> wrote:

Political and economic gambles carry risk of failure.

Ask

Bajpai

Teresa May

New Deal condemned by all economists doomed.

Hitler Polish corridor 

Medically doomed Franklin.....bent Costitution of USA to be elected 4 times President 

Medical disaster cardiac arrest stopping operation halfway.....became best operation for Congenital 

Pyloric stenosis till date . An abandoned operation became gold standards!

Sent from my iPad

On Sep 5, 2017, at 1:55 PM, Gaur J K <gaurjk@hotmail.com> wrote:

5/9

Dear Sh. S. Roy,

Thanks for clarifying. I AM OF THE SIMILAR VIEW. AND THIS IS WHAT i HAVE ALLUDED TO IN ANOTHER RSPONSE OF MINE.

Today the Govt. is in a position to pick and choose to target opposition as is happening in Bihar and Karnataka. BJP,s holier than thou attitude does not carry conviction. Relentless pursuit to make ADHAR compulsory inspite of repeated ruling by the SC is another indicator of possible misuse to target people on selective basis. Regds

JKGaur

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From: indiaresists-request@lists.riseup.net <indiaresists-request@lists.riseup.net> on behalf of Sarbajit Roy <sroy.mb@gmail.com>
Sent: Saturday, September 2, 2017 3:21 PM
To: indiaresists
Subject: Re: [IAC#RG] RBI confesses that demonetisation failed

 

Dear Shri Gaur

I have carefully read views of yourself and Shr R.N. Malhotra

It is a matter of public record that I, on behalf of India Against Corruption, had complained to RBI Dy. Governor on 6 April 2015 that there was massive fake currency of Rs. 500 and Rs. 1,000 denom notes in circulation and it was I who had first demanded de-nom of these notes and replacement of the Gandhi icons.

I had based my complaints on a secret IB report which I persued through a technically sophisticated whistleblower. This report indicated that at the time 18% of all Rs. 500 and 13% of all Rs. 1,000 denom notes of old Gandhi series were high quality forgeries (of non-Pak origin) and projected an alarming picture that within a year the figure would approach 25-30%.

I then pursued my complaint in appeal to the Governor RBI and I evetually got back a reply that my complaint was being very actively considered at highest levels of Central Govt.

As we all know de-mon happened on 8 Nov 2016, and IAC was among the forefront to crticise it for being too late and too badly mismanaged. At the time IAC had also criticised it as a hollow and cynical political exercise to win Uttar Pradesh.

Subsequently IAC got more leaks from whistleblowers which we have discreetly conveyed back to government and RBI. 

The extent of the de-mon scam is mind-boggling and I can safely say that the corruption of de-mon by a few people in BJP is 50 times greater than all Congress scams combined in India's history.

sincerely

Sarbajit Roy

On Thu, Aug 31, 2017 at 1:05 PM, Gaur J K <gaurjk@hotmail.com> wrote:

You had also recommended demonetisation for detecting fake currency notes. 

Other objective was to control terror funding, and money laundring. 

So how far the Govt. has succeded in achieving these objectives?

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From: indiaresists-request@lists.riseup.net <indiaresists-request@lists.riseup.net> on behalf of Sarbajit Roy <sroy.mb@gmail.com>
Sent: Thursday, August 31, 2017 10:14 AM
To: indiaresists
Subject: [IAC#RG] RBI confesses that demonetisation failed

 

http://indianexpress.com/article/business/banking-and-finance/demonetisation-99-per-cent-of-demonetised-notes-came-back-rbi-annual-report-4821558/

Demonetisation: Almost 99 per cent of Rs 500, 1000 notes back, discloses RBI indianexpress.com As on November 8, 2016 — the day demonetisation was announced — there were 1,716.50 crore pieces of Rs 500 and 685.80 crore Rs 1,000 notes in circulation.

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