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The Man behind Currency Ban Idea: Anil Bokil

The Man behind Currency Ban Idea Anil Bokil

According to reports, Mr. Bokil was allotted only nine minutes to meet Mr. Modi.  The discussion finally lasted 2 hours. Reports also have it that the same person met Rahul Gandhi earlier but was only give 10-15 seconds after which the activists met a few BJP leaders. Anil Bokil, a Mechanical engineer and a member of the ArthaKranti Sansthan is reportedly the person behind the idea of banning Rs 500 and Rs 1000 currency notes. A few months back Anil met the PM Narendra Modi and suggested that PM studies the roots of corruption, poverty, and unemployment.

Anil Bokil Interview with ETV Marathi:

Anil Bokil said in an interview with ETV Marathi in 2009, “We are more into a physical transaction involving cash (compared to other countries). Because of the physical exchange of cash we do not have any records of the cash transactions between two individuals who have entered into an exchange of money…We should encourage bank transactions or electronic payment modes. “In the United States, 90 percent of transactions are through the bank and so there is all white money. During elections, political parties bribe each other and in India, all these bribery happens through cash, hence there is no record of these currencies, because of which there are corruption and uneven distribution of money.”

In his proposal Anil Bokil put forth the following:

The Arthakranti Sansthan is an economic advisory body based in the city of Pune and constituted by a chartered accountants and engineers group. Mr. Anil Bokil reflected also on an alternative taxation policy, and black money, terrorism, and issues like inflation, industrial growth and unemployment rate and corruption. He was the person who put forth the idea to ban the big denomination currency Rs 500, Rs 1000 and Rs. 100 should be scrapped and 56 types of taxes to be taken back. He pointed out that big transactions should be by cheque, DD or online and there should be cash transaction limit. Introducing a single point tax system through banking system for government revenue collection through Banking Transaction Tax (2 percent to 0.7percent) on only credit amount


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