500,1000 Rs Note no longer legal tender!!

[sorcerer]

Demonetisation: Microsoft Founder Bill Gates Hails PM Narendra Modi's Bold Step

"The Prime Minister's bold move to demonetise high-denomination notes and replace these with new ones with high-security features is an important step to deflate India's shadow economy," Bill Gates said. (Image: @narendramodi / Twitter)


Noting that India has great potential to become the most digitised economy globally in mere seven years, Microsoft founder Bill Gates has dubbed the government's demonetisation measure as a "bold move" that will help in deflating the Indian shadow economy.

"The Prime Minister's bold move to demonetise high-denomination notes and replace these with new ones with high-security features is an important step to deflate India's shadow economy," Gates said while delivering the Niti (National Institution for Transforming India) Aayog lecture on 'Transforming India' here on Wednesday.

Had a wonderful interaction with Mr. @BillGates. pic.twitter.com/go5ej1IiiE

— Narendra Modi (@narendramodi) November 16, 2016

Lauding the Aadhar Card scheme and Pradhan Mantri Jan Dhan Yojna for helping the disadvantaged sections in India to connect to the banking system, Gates said: "India has all the pieces in place for a compelling vision for digital financial inclusion. Aadhar will convert a cumbersome, paper-based account opening process into a 30-second all- digital system."

The Aadhaar Unique ID system will also create a centralised data repository, he added.

Speaking of Artificial Intelligence (AI), Gates, who co-chairs the Bill and Melinda Gates Foundation, said automation, cloud services and AI are poised to eliminate manufacturing jobs.

Describing this as an opportunity for the Indian Information Technology sector, the Microsoft leader called for India to embrace these new technologies, despite the fears provoked by such rapid transformation.

Aiming to work with the government on various issues including e-payments, digital health, digital literacy and e-agriculture in India, Gates held a meeting here with IT and Law Minister Ravi Shankar Prasad on Thursday.

http://www.news18.com/news/tech/dem...ails-pm-narendra-modis-bold-step-1313055.html

 

[tharun]

We have achieved Mangalyaan,PSLV-3 many more...Why can't we produce our own currency paper...
What happened to polymer note project...

 

[salute]

............................................................................

 

[tharun]

Loosing trust on RBI...They didn't have enough currency printed in advance..and only capacity of 4000 crore per day..and new 500rs/- notes are getting miss printed

 

[vinuzap]

the news in india:

modi ke note app app when used 2000 note gives modi's speech leading to speculation 2000 notes has chip

http://www.bgr.in/news/this-android-app-shows-pm-narendra-modis-speech-on-new-rs-2000-notes/

http://indianexpress.com/article/te...t-use-it-for-currency-authentication-4387314/

 

[Chinmoy]

Cashless campus: Gauhati University students get smart cards

http://timesofindia.indiatimes.com/city/guwahati/Cashless-campus-Gauhati-University-students-get-smart-cards/articleshow/55596507.cms

GUWAHATI: Amid the [URL='http://timesofindia.indiatimes.com/topic/cash-crunch']cash crunch

triggered by the demonetization of Rs 500 and Rs 1,000 notes, Gauhati University (GU) has decided to introduce cashless transaction through smart cards.

The university has already distributed the cards among students and the cashless system will soon become operational. Those who have not received the cards yet will do so soon.

The smart cards will be equipped with a PIN and help students make essential payments on campus easily.

"As far as cashless transactions are concerned, our smart cards will prove to be immensely beneficial for the students. We have started the process of distributing the cards and the PINs to the students. As soon as the bank provides us with card-swipe machines, the system will become functional," director of students' welfare at GU, Ranjan Kumar Kakati, told TOI on Wednesday.

University officials said the smart card system will make things easier for students, especially in the wake of demonetization. The students or their guardians will only have to transfer the money to the bank account linked to the smart card.

The GU directorate of students' welfare also said the students will no longer be required to queue up at the bank for financial services as the university would receive most of its payments through the smart cards.

"The cards will save time and effort. Students can go cashless during their stay in the university," Kakati said.

The students, however said the system should have been launched a few months ago as it had been in the pipeline for a long time.

"Students of GU could have immensely benefited from the smart cards during this period of crisis. We want the university to make the cards functional at the earliest since PM Modi is aiming for a cashless economy," said a member of the Post Graduate Students' Union of the university.

[/URL]
http://timesofindia.indiatimes.com/city/guwahati/Cashless-campus-Gauhati-University-students-get-smart-cards/articleshow/55596507.cms
Now this is how a University and student union should work in country. May be JNU and likes of Kanhaiya and so called dalit brigade learn a thing or two from a little known organization.

 

[sorcerer]

10 long-term goals of #Demonetization

People are still missing the wood for the trees and are concentrating on short term effects like long queues at banks and ATMs thanks to the Indian government’s recent #Demonetization initiative where old Rs 1000 and Rs 500 notes were phased out.

This latest move merely happens to be part of a larger grand plan that was put into effect when Narendra Modi became Prime Minister way back in 2014.

Here’s looking at 10 long-term goals of #Demonetization…

1. #SurgicalStrike on the parallel black economy: This is the most obvious one. India has a huge parallel black economy which the government can’t tax and which forms an island away from the main economy.

Nobody knows the exact figure but it has been estimated to be in the range tens of thousands of crores of Rupees in the past to lakhs of crores today. You can be sure that a good chunk of this will come into the main economy.

It is a Herculean task to merge the two streams of white and black money and a great beginning has already taken place.

2. Make the corrupt lose their money: You may have heard of so many scams in the past ranging from Bofors to the one lakh crore plus 2G and Coalgate. A simple question. How much of bribe money has been recovered? Miniscule one must say.

Well this is for the first time that the corrupt are losing their money in large numbers. Huge sacks of money are being burnt, thrown or caught. Some of it is also percolating down as commission for the poor who are converting the old money into new, so it’s an unexpected benefit for them too.

You may remember that earlier also the recent tax amnesty scheme yielded tens of thousands of crore Rupees. The hoarders of black money will always be wary in the future.

3. Get everyone to have a bank account: The bank scheme for the poor under the UPA was a quiet affair but it really picked up under Modi’s Pradhan Mantri Jan Dhan Yojana. This is another push towards that direction.

Money deposited after #Demonetization has been phenomenal. Moreover if you had your own bank account, you could withdraw Rs 24,000 in one stroke in relatively shorter queues. Those without a bank account really had to struggle to convert their old cash.

This is another scheme that pushes more and more Indian citizens into the banking system and this is exactly what the government wants.

4. Get every citizen in India to be monitored online: A cashless economy is not just convenient for citizens, but also for the government to monitor. The government wants each and every transaction in India to be online so it can be easily tracked and taxed. Credit card and netbanking usage is up; debit card transactions have soared while PayTM has struck a virtual goldmine. This is a huge step forward in India becoming a cashless economy. Some may complain that Big Brother is watching, but like it or not, this is the future.

Expect many more Modi schemes which will push ordinary citizens online. Of course all this will be rendered ineffective if we don’t become a Broadband Nation soon.

5. Checking of counterfeit notes: The Rs 500 note came out in 1997 and the Rs 1000 one in 2000. After 9/11 Pakistan entered into a new partnership with America and they looked the other way as our arch nemesis set up a grand counterfeiting operation.

However now fake notes have been removed from the system and new counterfeits will be difficult. Pakistan is facing collapse. Incoming US President Donald Trump is not that favourable towards Pakistan and they won’t be able to operate with impunity.

Moreover the new notes are much more difficult to counterfeit. It was none other than Babasaheb Ambedkar, the father of the India’s economy after Independence, who said that notes should be changed every 10 years.

6. Crackdown on terrorism and Naxalism: It is an open secret that both terrorism and Naxalism run on counterfeit notes coupled with black money. They have been severely hit as their funds have dried up. They are currently down and now is the chance to land a decisive blow and finish off these menaces once and for all.

7. Change the mindset of everyone: Since Independence, we have led a fatalistic “chalta hai” policy. Corruption can’t go. The black money economy can’t be hit. And so on. That changed overnight.

Now the citizens of India know that Modi is serious and any other governments too can crack down if they really want to. More and more people will choose to come onto the white money stream to play it safe.

8. Keep everyone on their toes: Modi has been coming out with a slew of schemes after he became Prime Minister and this one was a #SurgicalStrike. What next? Already there is a buzz that the real estate industry will be targeted.

People are also guessing that the Rs 2000 note itself may be #Demonetized in the future. Then there was the rumour of the high value note having GPS tracking. That’s not possible because the bank note doesn’t have a power source.

However technology is there for notes to be RFIDed. RFID technology can be embedded into a currency note. That means that if you have a stack of high value notes, they can be detected with an RFID reader. The long range ones can do so at a distance of 100 metres. So the tax man can stand outside your home and detect your notes!

However all this is very expensive and may lead to privacy issues and misuse and hence seems unlikely, but you never can predict the future!

9. Boost the economy: For one a good amount of black money will make its way into the white economy and that will only boost the latter. Then with people burning their notes and counterfeit ones being taken out of the system, the value of the Rupee will become stronger. The more the notes there are in the market, the higher the inflation. If bad notes are taken out of the market, prices will fall and the Rupee’s buying power will marginally increase. The online industry has also received a huge boost.

10. Crack down on black political campaigning: It is an open secret that most of the political parties use black money for election campaigning all over India. It has been very difficult to crack down. In fact in some areas, political parties openly distribute Rs 500 and Rs 1000 notes. Well the timing of the current #Demonetization couldn’t be more perfect. There are upcoming elections in Uttar Pradesh, Punjab, Goa and many other States go to the polls in 2017. Black money election funding will be severely hit in these States and parties will be forced to raise white money and use their white money reserves. This will be a good beginning and all Modi has to do is introduce a Bill to regulate campaign spending after that.

http://www.sify.com/news/10-long-term-goals-of-demonetization-news-columns-qlykOnahbbgge.html

 

[sorcerer]

Currency Note Press to double production of Rs 500 notes
Updated: Nov 25, 2016, 05.17 PM IST

NASHIK: The Currency Note Press (CNP) has decided to increase production of new Rs 500 notes from 3.5 million pieces a day to 8 million pieces per day from next week.

The CNP has dispatched 227.5 million currency notes in the denominations of Rs 500, Rs 100 and Rs 20 to RBI during November 11 to November 24. It has also sent 12 million notes by air to Chennai on Thursday.

The CNP Nashik is one of the nine units of the Security Printing and Minting Corporation of India Ltd (SPMCIL). It prints currency notes with all denominations except the new Rs 2,000 note. It has already increased production of notes of all denominations by 35% - from around 16 million pieces per day to 22 million pieces per day.

Sources from the CNP said, "There has been huge demand for new notes of Rs 500 denomination. The SPMCIL chairman and MD Praveen Gerg visited CNP Nashik on Wednesday and directed us to double printing of Rs 500 notes."

Workers put in all efforts
The workers of the CNP Nashik are making all efforts to print maximum number of currency notes. They are even working on Sundays without expecting any benefits. The CNP Nashik, which has 1,700 workers, is currently functioning round the clock.

Jagdish Godse, secretary, CNP-ISP Workers Union, said, "We are working in two shifts, each shift of 10 to 11 hours, while maintenance works are being carried out in the remaining hours. Our objective is print maximum notes for the sake of the nation."

Godse said, "The CNP comes under essential services and employees are working on weekly holidays too without any additional pay. There is no regret, the aim is to print maximum number of notes."

"We only want modernisation of the press with installation of advanced technologies. On Wednesday, we urged Gerg to modernise the press and also increase the printing capacity."


http://timesofindia.indiatimes.com/...tion-of-Rs-500-notes/articleshow/55619674.cms

 

[sorcerer]

India's Rs 500 And 1,000 Demonetization Is Lowering Interest Rates And Also Inflation

An interesting side effect here of India’s demonetization plan. As we know, the Rs 500 and Rs 1,000 notes have been cancelled as legal tender, to be replaced by other notes and designs. There are limits on how much cash can be changed for cash (Rs 4,000, soon to fall to 2,000) but no limits upon what can be deposited in bank accounts. Of course, large deposits are going to be subject to tax scrutiny, rather the point of the exercise in fact. But what is interesting is that the flood of cash being deposited is such that it’s actually bringing interest rates down. This is an interesting and welcome macroeconomic effect:

State Bank of India (SBI) reduced rates on deposits from one year to 455 days to 6.90%, down 15 basis points, while keeping the 7% rate for deposits between 211 days to one year unchanged. That may not be great news for those putting their money in banks but lending rates are likely to follow suit in a few weeks, possibly giving sluggish credit expansion a much-needed boost and shoring up growth. A basis point is 0.01
percentage point.

“All rates will fall,” said SBI Chairman Arundhati Bhattacharya. “The bank has seen huge inflow of deposits but demand for credit has slowed down. Therefore, lending rates too will fall but after a gap.”

Agreed, that’s not a large drop but it all helps. Lower interest rates should, all else being equal, produce a stimulus to the economy.

There’s also another interesting effect here, the money supply will be smaller as well. That of course is contractionary, just as that interest rate change is expansionary. But India does have inflation and as Milton Friedman told us, inflation is always and everywhere a monetary phenomenon:

Of the Rs 14 lakh crore worth of Rs 500 and Rs 1,000 notes that have been scrapped, roughly Rs 3 lakh crore are not likely to be exchanged for new notes ever. This entire extinguished or disappeared black money will be profit to the RBI, and will be transferred to the central government as dividend.

That does of course depend upon that estimation being correct. One lakh crore is, to those of us using the western notation system, one trillion, thus the current estimation is that 3 trillion rupees will be withdrawn from circulation. The total cash in circulation in the Indian economy is some 18 trillion Rs, meaning that the demonetization will reduce that money supply, the base money supply, by 16 or 17 % or so. Dependent upon that estimate being correct of course.

http://www.forbes.com/sites/timwors...terest-rates-and-also-inflation/#751cd71d2edf

 

[tharun]

Currency Note Press to double production of Rs 500 notes
Updated: Nov 25, 2016, 05.17 PM IST

NASHIK: The Currency Note Press (CNP) has decided to increase production of new Rs 500 notes from 3.5 million pieces a day to 8 million pieces per day from next week.

The CNP has dispatched 227.5 million currency notes in the denominations of Rs 500, Rs 100 and Rs 20 to RBI during November 11 to November 24. It has also sent 12 million notes by air to Chennai on Thursday.

The CNP Nashik is one of the nine units of the Security Printing and Minting Corporation of India Ltd (SPMCIL). It prints currency notes with all denominations except the new Rs 2,000 note. It has already increased production of notes of all denominations by 35% - from around 16 million pieces per day to 22 million pieces per day.

Sources from the CNP said, "There has been huge demand for new notes of Rs 500 denomination. The SPMCIL chairman and MD Praveen Gerg visited CNP Nashik on Wednesday and directed us to double printing of Rs 500 notes."

Workers put in all efforts
The workers of the CNP Nashik are making all efforts to print maximum number of currency notes. They are even working on Sundays without expecting any benefits. The CNP Nashik, which has 1,700 workers, is currently functioning round the clock.

Jagdish Godse, secretary, CNP-ISP Workers Union, said, "We are working in two shifts, each shift of 10 to 11 hours, while maintenance works are being carried out in the remaining hours. Our objective is print maximum notes for the sake of the nation."

Godse said, "The CNP comes under essential services and employees are working on weekly holidays too without any additional pay. There is no regret, the aim is to print maximum number of notes."

"We only want modernisation of the press with installation of advanced technologies. On Wednesday, we urged Gerg to modernise the press and also increase the printing capacity."


http://timesofindia.indiatimes.com/...tion-of-Rs-500-notes/articleshow/55619674.cms

8 million pieces means 400 crore in value? seriously how can they substitute all old old currency?
So 6 months of cash starve seems real...

 

[mavles ihctep]

Why they r making new notes from low quality paper?

 

[sorcerer]

Why they r making new notes from low quality paper?

As far as I know...its a special fabric and nothing much is released about it and I think I read somewhere that Instead of importing papers for currency India is manufacturing it here..

The making of a rupee: made for India but not entirely made in India

It costs a lot of money to make money.

The special papers and inks, security features, and printing processes require specialised facilities and a hefty sum every year. So it’s no surprise that a number of countries, from Denmark to Kuwait, look to outsource the printing of their currencies.

But India, the world’s second-largest producer and consumer of currency notes (after China), isn’t one of them. The country prints all of its notes. However, until recently, it used to import many of the raw materials needed to make money. For instance, it got around 95% of the watermarked paper required for currency notes from companies such as Germany’s Giesecke & Devrient and Britain’s De La Rue, among others.

India uses around 22,000 metric tons (MT) of such paper every year and that accounts for at least 40% of the total cost of manufacturing money. For the year ended June 2016, the Reserve Bank of India (RBI) supplied 21.2 billion banknotes and printing costs came to around Rs3,421 crore ($502 million).

That high cost is likely one of the reasons prime minister Narendra Modi was keen to include India’s currency in his “Make in India” project, putting an end to outsourcing. In 2015, he urged RBI to start producing more of the required paper and ink, with the eventual goal of keeping the entire production process within the country.


This week, Indians are gradually getting their hands on the new Rs500 and Rs2,000 notes produced at RBI’s press in Mysuru, Karnataka. What’s interesting is that part of the paper used to make them was produced in India, though RBI refused to reveal exactly how much.


This paves the way for India to eventually become self-sufficient in producing all its currency notes, an important milestone that comes nearly 90 years after the country first began printing its own paper money.

From England to Nasik
When the British colonial government first issued rupee notes in India in 1862, it sourced them from the UK-based Thomas De La Rue which started out printing playing cards and postage stamps before entering the currency business. Today, the nearly 200-year-old company, now known as De La Rue, is the world’s largest commercial bank note printer and also supplies much of the paper used to make them.

In the 1920s, the British decided to print money in India. In 1926, they began constructing the region’s first-ever currency printing press in Nasik, Maharashtra. The city was picked for its stable climate and close proximity to a key railway line that connected it to the rest of India, according to Rezwan Razack, co-author of The Revised Standard Reference Guide to Indian Paper Money.

Two years later, the Nasik press began operations, printing a Rs5 note of the same design previously brought from England. Over the next few years, this press would go on to produce new designs of notes in denominations of Rs100, Rs1,000, and even Rs10,000, which could be used all over India.

Long after the British left in 1947, the Nasik facility was still India’s only bank note printing press. But as the economy developed, the demand for money increased and a larger production capacity was required. In 1975 the government established the country’s second press, this time in Dewas, Madhya Pradesh, which produced more hi-tech notes with better security features to prevent counterfeiting.

By 1997, these two presses together were printing all the notes India required. However, with a growing population and more economic activity, demand was again outpacing their combined capacity. So, the government decided to place a massive printing order of 3.6 billion notes with American, Canadian, and European companies (including De La Rue) to fix the shortfall. That was an expensive move, costing around $95 million and attracting heavy criticism amid concerns over potential security risks.

After this episode, the government established two more such presses, one in Mysuru in 1999 and one in Salboni, West Bengal, in 2000.

Through it all, India’s sole facility to produce the paper needed for new notes was the Security Paper Mill in Hoshangabad, MP. It was established in 1968 as a step towards bringing India closer to its goal of becoming self-sufficient in producing its currency. But with its capacity of around 2,800 MT, it could only meet a small part of India’s paper requirement; the rest had to be sourced from countries such as Britain, Japan, and Germany.

It has taken nearly 50 years for further change.

Following Modi’s urging, the government and RBI’s printing and paper production subsidiaries stepped up their capacity in 2015. A new production line was added to the Hoshangabad mill and operations finally began at a second mill in Mysuru, close to the printing press. This new mill was built with a capacity of 12,000 MT and, together with the Hoshangabad line, was expected to meet pretty much all of India’s bank note paper requirements, while also knocking off around Rs1,500 crore from its future import bill.

While it’s not immediately certain whether the new rupee notes officially mark the beginning of a completely “Made in India” phase, they do mark a big move in the evolution of printing money in India.
http://qz.com/844672/along-with-nar...played-classic-signs-that-foreshadow-fascism/


http://qz.com/837544/the-making-of-a-rupee-made-for-india-but-not-entirely-made-in-india/

Colour Bleeding
There were reports of the ₹2000 notes running colour when washed. This rumour came as a result of multiple videos showing the ₹2000 notes being washed in liquids ranging from water to a aerated drink. One of the videos shows some colour left over after the note was washed. Economic Affairs Secretary Shantikanta Das said that it was normal for the notes to lose some colour when dissolved in liquid. The senior bureaucrat said that intaglio ink used in notes does run a little when washed and said that if one tried it with an old ₹100 note as well, some colour would leak. “In fact if there’s no colour, it’s a sign of fake currency,” he said

https://en.wikipedia.org/wiki/Indian_2000-rupee_note


Demonetization Not only killed the shadow economy but also brought in the much needed security system for printing our own currency.

 

[ezsasa]

Loosing trust on RBI...They didn't have enough currency printed in advance..and only capacity of 4000 crore per day..and new 500rs/- notes are getting miss printed

Don't think printing is the problem but rather distribution logistics.

Also given the number of bank managers getting arrested yesterday and today for under the table currency note swap, again points to logistics.

 

[angeldude13]

PM Modi should do something about these corrupt government officials. News are coming that things are back to square one as these corrupt officials has started asking bribe in new currency notes.
Harsher punishment like freezing their assets,declaring them traitor and minimum 20 years of jail time for taking bribe.

 

[ezsasa]

Show this to people who say Indian society and economy does not adjust to change.

 

[ghost]

PM Modi should do something about these corrupt government officials. News are coming that things are back to square one as these corrupt officials has started asking bribe in new currency notes.
Harsher punishment like freezing their assets,declaring them traitor and minimum 20 years of jail time for taking bribe.

Regarding corruption I have an Idea.

What is corruption?It's basically greed,and greed is human nature ,it will remain no matter what you do!So,why not use this greed to fight corruption.Let the government bring new policy ,that anyone who get a corrupt official caught ,would receive 20% value of the property of corrupt official ,which would be taken over by the government ..Plus throw in some percent for the anti corruption officials also,reward them,motivate them.Not a single penny will go from government coffer, all from the corrupt person asset.

See ,right now, not enough motivation is there for people to fight corruption, as struggle far overdo the benefit, which one would receive after complain. Make complain of corruption a lucrative offer,see result!This will instill fear in govt official, as a greedy person can never underestimate the greed of others.

It's a rough idea ,more refined policy can be made regarding this .I have many ideas but not in the mood of typing.The thing is ,without innovative ideas and new laws,policies you cannot fight corruption.Fight greed with greed.

 

[ezsasa]

Regarding corruption I have an Idea.

What is corruption?It's basically greed,and greed is human nature ,it will remain no matter what you do!So,why not use this greed to fight corruption.Let the government bring new policy ,that anyone who get a corrupt official caught ,would receive 20% value of the property of corrupt official ,which would be taken over by the government ..Plus throw in some percent for the anti corruption officials also,reward them,motivate them.Not a single penny will go from government coffer, all from the corrupt person asset.

See ,right now, not enough motivation is there for people to fight corruption, as struggle far overdo the benefit, which one would receive after complain. Make complain of corruption a lucrative offer,see result!This will instill fear in govt official, as a greedy person can never underestimate the greed of others.

It's a rough idea ,more refined policy can be made regarding this .I have many ideas but not in the mood of typing.The thing is ,without innovative ideas and new laws,policies you cannot fight corruption.Fight greed with greed.

I remember speaking to somebody on this some years back, There is already such a facility in place which comes under ED. the reward if i am not wrong was 10%(needs confirmation) of the value that Govt treasury gets. Problem then and even now is the protection for the whistle blower. Whistle blower protection act was supposed to safeguard the person, It was tabled by BJP in Lok sabha in May 2015.

Only people like prashanth bushan can take on such business and political entities, normal people with everyday jobs cannot take such risk.

 

[raja696]

Why can't we print separate currency for each of the state. This way we can monitor which state has economically progressed and track how each state intermingled in trade with each other. With there currency reaching other states.

RBI should monitor each state as a country contributing to centre (akhand bharat).

Every state which received other state currency can be exchanged with RBI for there state treasury.

 

[ezsasa]

Why can't we print separate currency for each of the state. This way we can monitor which state has economically progressed and track how each state intermingled in trade with each other. With there currency reaching other states.

RBI should monitor each state as a country contributing to centre (akhand bharat).

Every state which received other state currency can be exchanged with RBI for there state treasury.

the sheer logistical challenge of printing multiple currencies, even if there are able to print all states are not economically equal. This will end up having exchange rate among states. complexities only increase.

Govt(Not RBI) already tracks the revenues from each state.

Hopefully with GST, the tracking of every states contribution to economy will become even more transparent.

 

[raja696]

the sheer logistical challenge of printing multiple currencies, even if there are able to print all states are not economically equal. This will end up having exchange rate among states. complexities only increase.

Govt(Not RBI) already tracks the revenues from each state.

Hopefully with GST, the tracking of every states contribution to economy will become even more transparent.

the sheer logistical challenge of printing multiple currencies, even if there are able to print all states are not economically equal. This will end up having exchange rate among states. complexities only increase.

Govt(Not RBI) already tracks the revenues from each state.

Hopefully with GST, the tracking of every states contribution to economy will become even more transparent.

Pls dont mind

can we print same value of currency (ruppee)but looking different for each state ( ex: 100 ruppee Telangana etc).

And difference in each states economy can be balanced by printing with quantity of money in circulation.

Aim : cash flow pattern should encourage other states to track where there money is flowing and how they invest more in each other states.