The Bold Voice of J&K

Small gain

0 88

Demonetisation has brought its own innovations to limelight. Invalid Rs 500 and Rs 1,000 Indian currency going for some innovative use may end up in your living room as a piece of furniture or a photo frame. Think of the post-demonetisation seizer of the banished money and fate of the people still holding the same in large amount. A Kerala-based firm has been chosen by Reserve Bank of India (RBI) to recycle the demonetised currency notes to be used for making hardboard and fibreboard products. The locally imported boards are used for making furniture such as wardrobes, shelves, drawer bottoms, photo frames and mirror frame backing and for making partitions. Even some of the European countries when they demonetised their currency too had gone into converting the valuable currency into bricks and furniture products. The principle of ‘Maya’ and ‘Moha’ as advocated in the Gita by Lord Krishna looks turning to be true. The worst affected are the hoarders of the ill-gotten wealth. Must be carrying the pain of departing with their dearest wealth. In accordance with international practice, the process of withdrawal of old notes, of the pre-2005 series in India, began in May 2013. While such notes remained legal tender, the facility for their exchange remained available only at RBI offices. This was done in a routine manner through banks. Initially, the exchange window was made available till January 2015, with RBI taking utmost care not to cause inconvenience to the public. If the target was to root out black money, corruption or financing terrorism, the political and social conditions should have been addressed. The surfacing of huge amount of counterfeit currency notes demystifies the government contentions on demonetisation. Corruption is in the system and the system has to be addressed and not withdrawing currency notes. Terrorists have number of ways to finance and mere ban of currency may not affect them. Thus, the measure may at best be, partially successful but people have to pay heavy price for small gain.

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