Demonetisation Myth and Reality

Some of the Myth about Recent demonetization  and their actual realities are :


Myth 1  : PM is going to address the Nation again , announcing demonetization of 100 & 50 rupee notes 

Reality : Baseless ; No Intention of cancelling legal tender status of Notes of any other denomination 




Myth 2 : Information was leaked to select Corporate House and party members in advance 

Reality : Complete secrecy was maintained ; no leakage of government's intention to any section 

http://www.livemint.com/Politics/Mnyg6nKj6IXkbQ53pjGdGN/Modi-asks-BJP-MPs-MLAs-to-submit-bank-account-details-to-Am.html


Myth 3 : The implementation cost is more than the benefits 

Reality : The parallel economy corrodes and eats in to the vitals of the Country's Economy , adversely affecting the poor and middle classes more than the Others 



Myth 4 : The Demonetization process is only for Show . people will find other means to keep black money  . Already industries and mechanisms are springing up to address this demand 

Reality :  Enforcement agencies are keeping necessary watch ; besides , amendments made also in Benami Transaction Act and Information sharing with Foreign Governments to Check Black Money 


All You need to know about : Benami Transaction Bill 

http://www.thehindu.com/news/national/All-you-need-to-know-about-benami-transactions-Bill/article14500932.ece

  

 Myth 5 : New Notes have Chips embedded in them to trace black money Hoarders 

Reality : No Such Chips are embedded in the New Notes
  


Myth 6 : The new Rs .2000 notes are of Inferior quality ; their color Comes  off 

Reality  : Currency notes have a Security feature called intaglio painting . The First test for a genuine currency note is to rub it with a Cloth ; this creates a turbo-electric effect , transferring the ink Color on to the cloth 


Myth 7 : Government is going to Introduce demat format for all land records , which will make all paper record Useless

Reality : Digitization of land records , to prove title , is an ongoing process ; Government continue to support this process 

http://nlrmp.nic.in/