Anil Bokil: Man Claimed Behind Banning Rs 500 and Rs 1000 Notes (Download PDF)

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Recently Prime Minister Narendra Modi banned ₹ 500 and 1000 notes. The idea about ban the notes to recover black money was suggested by Anil Bokil, a social activist part of “Arthakranti Sansthan” .

Anil Bokil

In August 2014 after the Narendra Modi՚s government was formed, Arthakranti Sansthan՚s members met the PM and gave presentation on how to remove black money from India.

Narendra Modi showed his interest during presentation and was the first PM to hear them for 90 minutes. After that meeting, top leader of BJP was in touch with Arthakranti Sansthan.

Anil Bokil was however also shocked when Narendra Modi՚s took this historical move in such short time.

Circulation of fake currency is also one of the reasons behind this ban. ₹ 1,000 fake note can be manufactured at the cost of just ₹ 3.

Around 80 % of transactions in India are done by cash mostly without records. Terror groups and antisocial elements exploit this. This ban would nudge the citizens towards -payment, cheque, DD etc …

About Anil Bokil

  • Anil Bokil is a social activist, a mechanical engineer, and a member of Pune-based Artha Kranti Sansthan group.
  • One of the founding members of ‘Artha Kranti’ , formed to find economic solutions to end vicious cycle of corruption with specific focus on black money.

Arthkranti Pratishtan

  • Arthkranti Pratishtan was formed in 2000 with 15 members (now members count in lakhs including accountants, engineers, and other highly qualified youths with the vision to end corruption.
  • Five-point action plan of Arthkranti Pratishtan for eliminating corruption from India:
  1. Remove existing taxes excluding import duty.
  2. Implement a simple single-point taxation system (Bank Transaction Tax) .
  3. Scrap high denomination currencies ₹ 1000, ₹ 500, and ₹ 100.
  4. No cash exchanges to be allowed beyond a certain limit.
  5. Cash transactions should not be taxed.

- Published/Last Modified on: November 16, 2016

Policy/Governance

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