BAN HIGHER CURRENCY

I think presence of higher currency in any country is a sign of corrupted country.

“NOTHING IS ILLEGAL IF ONE HUNDRED BUSINESSMEN DECIDE TO DO IT”

From the above statement we can easily judge that people commit corruption with unity and managing all illegal activities legally.

By basing the present situation of India I, strongly recommend to ban higher currency i.e. rupees 500 and rupees 1000 notes, but when it come to implementation it become an ARM-CHAIR-THEORY.

According to the survey, total percentage of currency notes that are circulated in India is as follows

                        Rs 100 notes: 23%

                        Rs 500 notes: 44%

                        Rs 1000 notes: 24%

                        Remaining: 09%

Approximately fake currency in India is about 170,000 to 200,000 crores in circulation. Reserve bank of India has no right to ban the currency. Only government of India has the right to ban it. Central bank only prints the currency notes and the denominations decided by the government of India.

Per capita income is the income which is evenly dividing the nation income among the country’s total population. By comparing with other developed nations per capita income i.e. (America, Europe, Japan ) There is no need to circulate currency notes more than rupees 100 in India.

WHAT HAPPENS WHEN GOVT BANS HIGHER CURRENCY?

1)       It will become great blow to the corrupted people and politicians.

2)       Politicians found it very difficult to accept bribe.

3)       Government can recover the black money while exchanging.

4)       People found it very difficult to do their business.

5)       In developed countries maximum 90% of transactions are through banking system. But, for India it is about 35% to 45% only because of poverty.

6)       Keeping poor people out of banking system is not apt. hence banking services is increased in rural areas also.

“OPPORTUNITY MAKES A THIEF” so, do not give an opportunity for anyone to commit corruption.

As a responsible citizen we must support and demand to ban higher currency and make India from corruption free.