Demonetisation brain Anil Bokil in capital, says system more transparent now

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HYDERABAD: Anil Bokil, founder of Pune-based Artha Kranti Sansthan, who is reportedly the brains behind demonetisation, defended the move saying that no fake currency has been in circulation after the note ban. He made the comment while speaking at a meeting with city-based businessmen at the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry on Sunday.
Speaking to TOI, on the sidelines of the meet, he said, “The entire system is moving towards transparency. All the complaints that are now coming in are from people who have black money, not the middle class.” He also said that there was always scope for improvement in the implementation of the project. “It will take some time for things to fall back into place,” said Bokil.
He said one of the main reason for banning old currency notes was that they had turned into a hoard-able commodities. “There are three main reasons for note ban. One is the currency note has not become medium (sic). Second, is the currency notes are not sustainable and the third is it has become source for counterfeit notes,” he said. He further said that digital payments were transparent and traceable unlike cash payments.
Bank employees’ associations alleged bias by the RBI. “While public sector banks are suffering from short supply of cash, we can’t understand how few private banks get uninterrupted supply,” said Ch Venkatachalam, general secretary, All India Bank Employees’ Association.