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By calling back and stop printing the 1000rs and 500rs note will we able to address problems like fake notes and bribe

Created by : keshav m, Project Architect, adonis designs  | 09 16 2009 10:19:39 +0000
Industry : Management & Strategy ConsultingFunctional Area : Capital Management(Corporate Finance)
Keywords : economy fake notes
Activity:  770 views;  last activity : 03 31 2011 15:38:09 +0000

By calling back and stop printing the 1000rs and 500rs note will we able to address problems like fake notes and bribe

  
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Yes Keshav you are right, RBI should Call back all the Rs 500 and Rs 1000 notes and should stop printing them. This will definitely stop the problem of fake notes as of now. Government should get to the root of the problem and smash the racket mercilessly since whoever is doing is a national enemy!............
By Sudeep Tarafdar, Senior Consultant, IBM  09 16 2009 14:13:42 +0000
 
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Let me relate a simple example like going to a bank for withdrawing a good amount of cash , in such a situation the one going through a bundle of 100 rupees will hardly pay any attention for forge notes of any sort.However,one seriously goes through a 500/1000 rupees notes.So.i belief stopping 500/1000 notes will result in more forgery.
By JAYANTA KUMAR BORAH, B.Tech/B.E GRADUATE, Annamalai university  03 31 2011 10:51:01 +0000
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Then Why is RBI delaying in doin this. Is it not simple and emicable solution?
By keshav m, Project Architect, adonis designs  | 09 17 2009 06:59:43 +0000
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Those that are caught in the act be punished through fast track courts.Punishment be made more stringent.Some of the transactions can be carried foreward through credit system.Awarness among the public regarding identification of such notes is very important.
By Dayanand Deshpande, Senior Consultant, Ernst & Young  | 09 16 2009 14:15:09 +0000
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This is the only solution
By keshav m, Project Architect, adonis designs  | 09 16 2009 10:19:39 +0000
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people would start fake notes of 100 if you stop printing 500-1000 denominations. Time will has come for electronic money
By Sarabjeet Singh Johar, BMS student, Mumbai University  | 03 31 2011 15:38:09 +0000
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It is easier said than done! We have stringent financial regulators, viz., RBI, SEBI, etc and laws, like, FERA, FEMA. Yet, such financial frauds are unfolding. We all know what is the root cause, our political masters in connivance with the select corporates, who fund them for elections, and the select Chartered Accountants who formulate ideas for such activities are all responsible for this amiss! In today's scenario, only the Apex Court is the only re-course available to remedy this situation!
By S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner  | 03 31 2011 08:59:33 +0000
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No... But as mentioned in another forum I suggest 'increase in production costs' i.e. to produce a Rs.500/- note it should cost 520/- Then fake note business is not feasible.
By Suryanarayan Murthy, Free lancer  | 03 31 2011 08:21:53 +0000
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