CBI Raid on RBI! Shocking, Isn't it?

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CBI Raid on RBI! Shocking, Isn't it? Watch this video and decide!

YouTube - ‪CHAUTHIDUNIYA's Channel‬‏

 

[CLN]

Many seem to have viewed my post #1 but no one has posted any comment yet!

Some of the possible reasons are:

1. In these days when it has become customary for scams to break out, left and right, big and small, almost every day, our learned Forum members are way past getting surprised or shocked about any thing happening. They believe perhaps in one of the variants of Murphy's law that if there is even a very remote chance of anything happening, it certainly will happen!

2. In these pro-activism days, when institutions which were once very shy of any kind of publicity actually clamour to get into the lime light at the proverbial drop of a hat, it is no wonder CBI swings into action, as much and as often as it can swing (without breaking the chain holding it to the supporting hook!) and so no CBI raid is any more worth even the raise of an eyebrow!

3. Gone are the days when a police arrest, or, a summon from a court of law, or a CBI/IT raid was thought by people to be indicative of an ignominy. Nowadays, it is viewed as a token of proud public recognition that the person arrested or summoned or raided is a VIP! So, it is an incident every aspiring individual nowadays prays or plots for, to achieve by whatever means possible. What applies so to individuals can apply equally validly to institutions too - even to statutory institutions like RBI, for that matter! And, as usual, our sagacious Forum members know this all too well and hence their lack of shock at the news bit of CBI's raid on RBI.

4. Or, perhaps, it could be due to a simple, much less spectacular reason, that the YouTube Video I have given link for is in Hindi and there was genuine difficulty for some members in making out what it is all about.

For the benefit of any such member who is not much familiar with Hindi, I am giving below two links which are not in video form, but are only documentary posts in simple English, but containing essentially the same information which, I must shamelessly admit, did shock me to learn about.

COUNTERFEIT CURRENCY, RESERVE BANK and INDIAN GOVERNMENT | CHAUTHI DUNIYA | Dr. Manish Kumar

The fake money saga

Who is controlling RBI ? « My Economist

 

[zebra16]

Sir,

I have doubts of the veracity of the incident. I shall try to get back in detail,

The glaring errors, as I feel, at the casual reading of the article:

1)"Indian authorities estimate that as many as 400 million fake rupee notes with a face value of some $9 million are in circulation in the state of Uttar Pradesh alone"

At approx Rs. 45.00 being the current exchange rate between Rupees and dollars US $ 9 million would amount to Rs. 405 million, the same quantity of fake rupee notes are supposed to be in circulation, meaning the counterfeit notes are in denomination of Re. 1/- which is absurd.

2) The article further says: " Government appointed deputy RBI Governor Shyamala Gopinath to control RBI Governor D.Subbarao work "

Total absurdity. As if RBI Governor is not appointed by GOI and is appointed by IMF/World Bank etc.

Regards,

narayan

 

[CLN]

Shri narayan:I have doubts of the veracity of the incident.

Sure those two 'errors' do tend to raise some suspicion, but fake note circulation is a serious issue and deserves thorough looking into, IMHO. However, it is hard to believe that RBI is not yet aware of this startling news in circulation, and so, what is really worrying / puzzling is its silence, i.e., why is there no denial yet from RBI/the Govt. that it is a fake / rogue news item.

So, if you do have the means to probe into the matter further and bring out details, that would certainly be a great service to the hapless Indian society, which is constantly driven into a sort of paranoia by the happenings in the country.

 

[vsubbu48]

One of the stories is by the Afternoon Despatch and Courier, which is a well respected newspaper, with limited circulation in Mumbai. The news story must, therefore, be correct. It is surprising as to why the story was not picked up by bigger newspapers. Is it deliberate?

 

[CLN]

vsubbu48: It is surprising as to why the story was not picked up by bigger newspapers. Is it deliberate?

It indeed is a disturbing fact that newspapers, though generally flaunted to be neutral and fearless watchdogs on the Governments, powerful individuals, institutions etc. are not necessarily so, at least not always. After all, almost all big newspapers are also run only in a corporate style, which while it may ensure efficiency, need not necessarily vouch for truth, honesty and probity, if by doing so, it goes against the 'interest' of the owners and their 'connections, ties and bonds' in the corridors of power.

If the story is really true, then the fact that it has NOT been picked up by any of the newspapers till date, by itself has a strong significance. Is not silence more eloquent than spoken voice, at times?

 

[Iyyarooraan]

அதை எல்லாம் கண்டுகாதீன்க ஸ்வாமி. Newspapers are the fourth column of our democracy working for fifth columnists.

 

[CLN]

அதை எல்லாம் கண்டுகாதீன்க ஸ்வாமி. Newspapers are the fourth column of our democracy working for fifth columnists.

Ha Ha! Nicely put!

 

[zebra16]

Sure those two 'errors' do tend to raise some suspicion, but fake note circulation is a serious issue and deserves thorough looking into, IMHO. However, it is hard to believe that RBI is not yet aware of this startling news in circulation, and so, what is really worrying / puzzling is its silence, i.e., why is there no denial yet from RBI/the Govt. that it is a fake / rogue news item.

So, if you do have the means to probe into the matter further and bring out details, that would certainly be a great service to the hapless Indian society, which is constantly driven into a sort of paranoia by the happenings in the country.

Sir,

The more deeply I look into the matter, the more suspicious I am about the genuineness of the article.

1. The report says that 70 odd banks were raided by CBI in bordering districts of Nepal and this type of wide raid could not have gone unnoticed by the main media.

2. Counterfeit note cases are initially handled by the local police and not by CBI.

3. Selling currency notes @ 50% of face value is sure way to disaster and even the dumbest one would not exchange one note of Rs. 500.00 for two notes of Rs. 500.00 without being suspicious!!

4. The article is woefully short on details. Which districts of UP/Bihar are involved, which banks, safe vaults of RBI at which places were raided, the location of the forensic labs where the notes were found initially genuine, the court/s where the cases were lodged and are being tried etc.

5. When CBI launches any investigation, a preliminary enquiry (PE) is required to be filed, even PE number has not been given.

6. Why the notes were sent to forensic labs in Japan and HK and why they subsequently sent to USA is also a mystery. Why was the opinion of forensic labs in Japan and HK considered unsatisfactory is left to the imagination of the reader.

7. You may find the daily share price of Delarue here: De La Rue - Share Price Download
On no day in the past one year, it has fallen by 25% as claimed by the newspaper report

8. For the news of Delarue you may click here: De La Rue share price down on FTSE 250 as Oberthur walks away - International Business Times
French firm Oberthur is bidding to take over the company by offering to buy out Delarue at 935 pence per share as against the then market price of about 800 pence odd. That offer is rejected as investors are confident of revised re-bid at higher price.

9. It would be naïve to assume that potential investors would be putting their money in companies with mafia links etc.

10. “My economist” blog spot contains the usual anti-congress/anti-gandhi tirade and age old interent frenzy articles like “Dark Secrets of Nehru Family, Religious Extremism, Media Mafia, all with the usual victim-mode identification.

Overall the article does not inspire any confidence in me

How ETV (Rajasthan) (which is otherwise a non-sensational conservative channel) came to air this news is the mystery for me.

Regards.

narayan

 

[CLN]

zebra16: The more deeply I look into the matter, the more suspicious I am about the genuineness of the article.

Dear Shri narayan,

An excellent analysis! While it seems a bit hasty of me to have raised an 'alarm', disturbed at coming across that Chauthiduniya video clip, it still remains a puzzle why no denial of some sort or the other, has ever come out from the RBI or the Govt., if the whole thing is a mere hoax!

Either they just don't care for what the non-descript ordinary citizen will think or can do, unless some social activist - we do have quite a few in that line! - takes up the issue and announces some form of satyagraha, or, they have calculated that the aam aadmi is too engrossed in his daily struggle, handling only currency notes of smaller denomintions, as Rs.500/- Rs.1000/- etc. are not within easy or frequent reach of him, to bother about such media 'revelations'!

In any case, I guess that we must only keep our fingers crossed, unless or until more information comes up, one way or the other.

 

[CLN]

I just came across yet another video clip, but again in Hindi, I am afraid, having a detailed interview between Dr, Manish Kumar, Editor - Coordination, Chauthi Duniya and Mr. Vishwabandhu Gupta, Ex- Additional Income Tax Commissioner, which emphasizes that such a scandal has taken place. Th link is given below:

YouTube - ‪Fake Money : Govt. and RBI pumping Counterfeits in country‬‏

 

[zebra16]

I just came across yet another video clip, but again in Hindi, I am afraid, having a detailed interview between Dr, Manish Kumar, Editor - Coordination, Chauthi Duniya and Mr. Vishwabandhu Gupta, Ex- Additional Income Tax Commissioner, which emphasizes that such a scandal has taken place. Th link is given below:

YouTube - ‪Fake Money : Govt. and RBI pumping Counterfeits in country‬‏

Sir,

Sorry to disappoint you once again. Just google Vishwa Bandhu Gupta and you can know more about the person

Regards,

narayan

 

[zebra16]

"While it seems a bit hasty of me to have raised an 'alarm', disturbed at coming across that Chauthiduniya video clip, it still remains a puzzle why no denial of some sort or the other, has ever come out from the RBI or the Govt., if the whole thing is a mere hoax!"

Sir,

Two thoughts come to my mind.

1. The corruption is so pervasive and rampant, as soon as we hear about it our minds can only think in magnitude. How many thousands of crores or how many lakhs of crores.

2. About denials by Govt. - Who will believe them? They told there was no scam in 2G, CWG is scam free, there is no Adarsh etc. But see what transpired thereafter.

I feel if the government starts issuing denials, the public will start believing the rumors more. Especially now that they have removed CBI from the ambit of RTI.

Regards,

narayan

 

[CLN]

zebra16: Just google Vishwa Bandhu Gupta and you can know more about the person

Dear Shri narayan,

I did just that! I did not know any thing about him before but this google search reveals just one thing: that he has been taking cudgels against several people - from Godmen to Conmen - in the past several years. He has been critical against Vishwa Hindu Parishad monetary irregularities, against Cricket match-fixing, against VDS of P. Chidambaram and many others, including this latest - fake note exposure. It has been but natural that he has courted suspension and reinstatement several times. Maybe, he thrives on controversies and exposures but I do not think that he shows any specific political polarity.

My conclusion is that he cannot be simply dismissed, as his arguments are quite persuasive and pointed, by and large. Maybe that we should get further feedbacks from other members as well, who are watching our conversation, i.e., reading our posts, but just keeping on the sidelines, safely away!

As for the Govt's 'silence' on the matter, I do see your point, but that is no justification to remain silent, if it is really above board. A person put on the dock cannot afford to refuse to speak truth because every one is suspicious of him. Whether some one believes or not, an accused-innocent cannot afford to be silent unless he hopes for a help to come from some where 'outside'. But in the case of Govt., what sort of official help can come from outside? If it IS really not guilty, it owes that much to the public to be more forthcoming, because the proverbial ostrich's 'head-in-the-sand' strategy will NEVER pay!

Things like 2G spectrum exctravaganza, CWG bungles, Adarsh atrocities etc. have definitely brought down the Govt's credibility to a dismal Low, but that only makes it all the more necessary for the Govt. to try being honest, for a change at least, instead of once again entrusting the task to dear Kapil Sibal to use his slick and slimy tactics to hoodwink the nation again!