Are we Honest Enough to Implement Demonetisation: A question to all Citizens from, Bankers to Politicians


The Demonetisation drive what ever the media, opposition or any one call it has left a big scar on the face of the country. It has clealry exposed our vulnerabilities as the citizens, about our honesty and integrity. And therefore one thing that has clearly emerged is that we the people of the great country India have to do lot of soul searching for ourselves. Something is wrong in our DNA. The government can be a facilitator or may be not but the final solutions rests in our own hands.

As the demonetisation deadline comes to an end in next few days, it has been clear that a vast majority of black money in the market has been converted to white.

The modus operandi has been traditional loopholes in the banking system besides innovative solutions. As per reports emerging a vast number of money got converted through banking channels between 30 November to 11 December.

The government must scrutinise all suspicious banking transactions during this period and try to unearth the manipulators. A simple reason given by bankers was the relationship between big account holders and various banks.

There is something wrong inherently in our DNA , culture and system that we have made , that does not allows us to be live a simple life with honesty.

As we know each of the person and organizations in the country has a very special relationship with banks and sweets and gifts are exchanged between the two parties on festive occasions like deepawali and new year. IN fact many of the bankers become part of the family of large and wealthy individuals and organizations. Therefore in the hour of crisis such relationships plays out and the bank is unable to deny some extra facilities to them.

It is said that the politicians therefore exploited the cooperative banking system and the resourceful used foreign based banks to get money converted both having some weaknesses in their system.

Besides there is always fear of loosing big clients who put lot of cash in a particular bank branch that helps the manager to get rewards and promotions from his own bank management.

Therefore to say that Banks were just sitting neutral doing their job professionally and impartially can be misleading and half truth.

Certainly not all banks and all bankers could be clubbed within the same bracket , nonetheless the vulnerable have succumbed and huge compromises have been made.

It is not possible that in such a large country with huge black money the corrupt were just obeying government orders.

The government and its agencies have so far been able to unearth small transactions that were stashed as black or were tried to be converted to white. The biggest cases are one from Tamilnadu and other from Kolkatta where an IAS officer and a businessman were caught respectively.

However it will be foolish and rather absurd to believe that only these two unlucky persons were involved in black money transactions in the country.

The government must need to go systematically after the corrupt and has to unearth a substantial part of the black money only than the demonetisation objective will get fulfilled.

The system will revert back and get reset to its pre November 8 conditions with fake money, corruption and terrorism all holding the same level of penetration.

Moreover we the people of the country also have to do our soul searching and change the mindset. The government alone cannot stop corruption. We can either continue to live unchanged the system and the gene that we all have collectively in our DNA or try to minimise and finally root out that corrupt selfish gene. Else nature and system will take its own course and we all may have to pay a prise for it sooner or later.

Asheesh Shah
Author: Asheesh Shah

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