Redesign Banknotes For Black Money
Management
MINT
( 20 May 2016 ) carries a news report titled :
RBI proposes new banknote design
Following
is an extract :
" Banknotes in India may soon carry
a NEW LOOK, with the central board
of the Reserve Bank of India (RBI) on Thursday recommending to the government a
new set of DESIGNS
The central
board of the RBI also took stock of the macroeconomic situation and reviewed
issues related to CYBER SECURITY and CURRENCY MANAGEMENT, at a meeting
on Thursday
The RBI in a
statement said the board discussed the national and international macroeconomic
scenario and also reviewed the working of specific areas of operations of the
RBI, including information technology (IT) and cyber security, and establishment of an IT subsidiary of the RBI "
Will , RBI go beyond a NEW LOOK for the
banknotes , and seize this opportunity to make these NEW DESIGN notes to enable BLACK MONEY MANAGEMENT , and the CURRENCY
MANAGEMENT ?
Easily possible if proposed IT subsidiary
of RBI , implements my following blog dt 09 May 2016 :
Currency Maps of India ?
When in
1949 , George Orwell wrote his all-time classic " Nineteen Eighty
Four " , he had not envisaged Tablets / Smart phones
So ,
he imagined that TV screens would keep a watch over mankind , 24 hours , like
CCTV cameras
Nor did
Tim Berners Lee , envisage IoT ( Internet of Things ) or BIG DATA
analytic tools ( MapReduce / Hadoop ), when he invented World Wide Web
And
neither did Robert Easton , envisage RFID sensors when he invented GPS in 1967
But
today , with wide-spread usage/application of these technologies, it is not
difficult to envisage :
CURRENCY MAPS OF INDIA
No
doubt , all of us have seen following types of Maps ( for India / Asia or for
the entire World ) , on TV Channels and even on our tablets and smart phones
:
#
Weather Maps , showing :
* amount of rain fall ( inches / mm )
* location wise temperature intensity ( *C / *F )
* topography ( heights of mountains / depths of valleys )
* Cloud Formations and direction of Storms and landfall locations
* Wind Patterns ( velocity in km per hour )
* Ocean Currents in Atlantic / Pacific ( direction / speed )
* Ice Cover over Antarctica / Arctic Region ( sq km )
#
Space Maps , showing :
* Geological formations on Moon / Mars / Mercury / Asteroids
* Night illumination in different parts of world as seen from Skylab
* Galactic formations , billions of light years away
And
of course , Google Maps of all types ( including those peering
into our bedrooms ! )
Given
this state of art ( and of science ) , it is not difficult to envisage ,
following
types of CURRENCY MAPS of
INDIA , showing aggregate value of Rs 500 / 1000 Currency Notes ( ie :
currency density of Rs 1 million / 1 billion / 1 trillion / any figure of your
liking ! ) in :
*
Any given Street / City / State
*
Premises of any Car Dealer / Jeweler Shop / Real Estate Agency / Mall /
Race Course / Builder ( any office / housing location of your choice )
*
Any Airport ( a million Rupees in Rs 500 notes weigh only 2.2 kg ! )
*
Any Safe Deposit Vault of any bank
With
the existing technologies , it is even possible to plot the movement of Rs 500 / 1000 currency notes ( just one note or a
thousand notes ) on a GPS map of India , to determine its direction and
velocity ( Currency Currents )
In
real time , too - 24*7 !
All
of the above is possible to achieve within 6 MONTHS , by :
*
Abolishing existing paper notes of Rs 500 / 1000
*
Replace these with plastic notes , embedded with RFID
sensors
( can be embedded into existing 3 mm silver-colored security wire )
*
Allot a unique IP V 6.0 address to each
such note linked to its serial no
*
Develop / host a Technology Platform ,
based on GPS mapping system
*
All smart phones to carry GPS locator (
cannot be switched off )
( anyone carrying a Rs 500 note in wallet , also carries a Smart phone !
)
Of
course , Currency Map App ( to be named, " Currency-Cure
" ? ), available to general public on their smart phones , will not be
able to zoom-in / drill down , under 1 sq km area, to protect individual privacy
( this can be done , only by authorized officers of Income Tax Dept /
Enforcement Directorate )
If
some of you think my suggestion is impractical , consider following :
A
division of Master Card ( called , MasterCard Advisors ), aggregates and
analyzes , 65 BILLION transactions from 1.5 BILLION card-holders in 210
countries , in order to divine , business and consumer trends !
And
only 2 days back , Shri Raghuram Rajan , RBI Governor said :
"
It is because money has no odour, because it is the great equalizer , that so
many people across history have been able to acquire resources and invested
them to make the world we live in
Rather
than prohibiting the use of money and wealth , let us think about increasing
society's tolerance for its use "
Today's
Hindustan Times quotes a Income Tax officers as follows :
"
The taxman will soon start matching your IT returns with your possessions
The
Government has started collecting data from various sources and when this is
done and the data has been sifted through , action will begin
This
drive is a salient feature of the tax department's agenda to curb
under-reporting of tax and expand the tax payer base in the country "
And
two days back , the person who leaked PANAMA PAPERS ( 11.5 million
digitized documents ) , remarked :
"
Digitization will bring in a revolution "
I
would like to add :
{ RFID
sensors in Currency Notes + IP V 6.0 URL +
GPS + HADOOP } ,
will end
BLACK MONEY and CORRUPTION , in India
( without
needing to pass any bill in Rajya Sabha ! )
I do
hope , Shri Arun Jaitley-ji will take note !
-------------------------------------------------------------------------------------
21 May 2016
www.hemenparekh.in
/ blogs
hemen parekh
Marol , Mumbai , India
( M ) +91 - 98,67,55,08,08
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