Linking Aadhaar to bank accounts is a recipe for creating benami bank accounts and scaling benami bank transactions. It threatens to destroy your bank accounts and destroy the country’s banking system. It’s devastating that the integrity of banking processes is being destroyed by dividing, outsourcing and privatising processes integral to core banking so that they become the responsibility of no one.
Was the demonetisation a success or failure? Various government claims and the subsequent lacklustre results leave no doubt that the demonetisation has resulted in no significant utility to the nation and caused considerable damage.
The RBI had removed from its website a transcript it had published of Shri R. Gandhi's statement about the currency disbursed to the public by the RBI. It was later published as a few bullet points with controversial parts removed as an "edited transcript"
As soon as the demonetisation of Rs.500 and Rs.1000 notes was announced, I had said that it was a forced and public funded "bailout" of banks. This article examines news reports from the last year and explains how I arrived at the conclusion.