India During And After Demonetization Case Study - 913 Words

Crime scenario of India during and after demonetization During and after demonetization, militants have robbed banks in Kashmir. they targeted banks for overcome their financial crunch. Till February, the robbers have taken nearly over 30 lakhs worth new currencies from banks. In April and May first week several attempt made by the militants for robbing banks and succeeded in few and failed in most of their attacks . The increasing number of robberies in Kashmir is an indication of the important of hard cash for terrorist activities . In other parts of India also bank robbery got increased during demonetization. In Haryana, robbers have looted 2.49 crores during October to December 2016 . During demonetization period new currencies were†¦show more content†¦The person who carries more than 10 (old notes (whatever the denomination) shall be punished with fine of INR 10000 or five times of the face value of the amount which he possess, whichever is higher . Who so ever makes false declaration for depositing the old notes to the ban ks? Shall be imposed fine of INR 50,000 or five times of the actual deposited amount, whichever is higher . There has been a discussion of imposing imprisonment for the perpetrators who keeps the old notes and makes false declaration for depositing the old notes. If a company has committed above offence then, the responsible persons of the company will be liable to pay the penalty under this Act . However, the imprisonment proposal later got dropped. It is indeed a welcome move; because, already Indian prisons are overcrowding so, if these people also kept in the prison then, administration of the prison will suffer; these people may mingle with conventional criminals which may be resulted in high recidivism. Before passing of this Act, President has promulgated an ordinance which contained similar provisions. Future course of action: Prime minister has stated that to diminish the financial source of terrorists is one of the primary reasons for the implementation of demonetization scheme. So, after the circulation of new notes, the state machineries must ensure that the new Indian currencies shouldShow MoreRelatedGovernment s Role Of Managing Instability2340 Words   |  10 Pagesof unemployment by creating an economic recession (Leijonhufvud, 2000). A country suffering from economic recession can be considered that it suffering from worst phase amongst all other economic issues. It is seen from several scenarios and past cases that Government has played an important role in each nation when an economic crisis arises. It starts regulating some of its instruments which can control those major issues such that monetary policy, fiscal policy etc. (Jordi, 2015). Surely, the government