I have following suggestions to made:
All government institute who have central software deployment, can use the same software as used by banks today to exchange high denomination currency.
Government establishment can use their offices after office hour to start money exchange exercise.
All railway reservation counter which have card swipe machine can be used for money withdrawal with certain limit.
All those who have valid proof but no bank account can be asked to open bank account, keeping in mind current rush in banks, help of retired bank and government employees can be taken to enroll people who are not in banking system.
All those who have money but no valid document and no bank account, their bank account can be opened after taking their bio metrics.
The account which will be opened should be treated as deposit only currently.
Withdrawal from these account should be done after following KYC procedure.
Government should start promoting UPI based systems with easy to follow steps for availing the facilities.
To promote e-transaction in business no surcharge should be levied on transaction up to a certain amount. This will encourage businesses to turn to e-transaction platform.
Cheques are not preferred as they can get bounce because of insufficient funds or due to error done in writing of cheques (signature mismatch, cutting etc) some thing is needed to avoid it.
Open an email id, whats app no or mobile no where people can inform give about black money hoarders.
Govt should appeal people to bring to notice names an no of people involving in converting black to white these days.
18 November 2016
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