Demonitization - RBIrole in implementation? and I wish to see that Noble prize for Economics goes to Shri Narendra Modiji

       RBI - Reserve Bank of India is the controlling boss of the monetary system in INDIA. It failed in its effort in bringing the Honorable Prime Minister dream Demonetization. RBI policy makers, educationist, money pundits failed in attempt to take precautionary measures before implementing the demonetization.

        It plays pivotal role in the development strategy of the Government of India. It must have taken into consideration all the developmental strategies to overcome hurdles which would have come in the implementation stage.                        

      It is a member bank of the Asian Clearing Union. It must have informed the Asian Clearing Union about the note change in the country. And given equal chance to the near friendly countries like Nepal to understand and facilitate the conversion of currency in a good way.

       The general superintendence and direction of the RBI is entrusted with the 21-member Central Board of Directors: the Governor, 4 Deputy Governors, 2 Finance Ministry representatives, 10 government-nominated directors to represent important elements from India's economy, and 4 directors to represent local boards headquartered at Mumbai, Kolkata, Chennai and New Delhi. Each of these local boards consists of 5 members who represent regional interests, and the interests of co-operative and indigenous banks. People mentioned in the above paragraph must have taken enough charge to make the demonetization smoothly with much hassle or with out any hassle.

       What they could have done?

·        Very next day they should have made the alternatives to the ATM machines.
      It is a known fact that the Battles and wars are won based on the leadership equipped with the modern technology or systematic attack. In the same way RBi must have taken up that leader ship role to ensure that the very next day or with in 2 days alterations are made to the ATM machines.

·        Printed enough new notes with all security measures with out any printing errors as in some Rs. 500 notes.
         Currency notes needs to be flawless. Security measures must be easy to  be recognized by the blind, common man, deaf and dumb. Notes must be printed in such a way that the security measures are impossible to print them as the original govt notes.

·        Allowed the rural banks to allow people to convert or deposit the amount.
        Although IT BT is flourishing in India, it is the rural economy which is the real back bone of the nation even today and tomorrow as well because it is India. Rural Banks must have been had enough of the cash to at least disburse or must have allowed to take the deposits. 

·        Don't have let private bankers to stay from the movement. 
       ICICI bank charges its customer if  by mistake the customer happens to try to withdraw amount from the other bank ATM when that particular ATM does not have cash in it. Like these banks must have been asked to work round the clock to serve the urban India. 

·        Change must have informed in the International Monetary Exchange: I feel this must have been shared with the International Monetary Exchange for the best.


           It is India and we are Indians we adopt to any situation. Either we adapt or adopt the new thing. With the passage of days it is clear that the people are getting busy with the work and earning. Only people who are rest less are people who are hoarding the money, people who ones said we are against corruption are showing the real faces of them. Possibly they wanted to take Noble prize for freeing India from corruption. Hon'ble PM Modiji must be given Noble prize for his demonetization and Economic bye laws which created afterwards.