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Let’s Deduce Prime Minister Narendra Modi’s Move to make India Corruption Free!

It is important to note that this is an important step and necessarily a one-time clean sweep of black money that will go a long way to reducing the stock of black money in the economy

Reserve Bank of India, Wikimedia Commons

November 9, 2016: Prime Minister Narendra Modi’s move of scrapping Rs 500 and Rs 1000 notes to curb ‘black money’ is undoubtedly impressive but it came as a shock to the nation when it was announced on Tuesday night. It was maintained as a closely guarded secret until the PM Modi himself announced it.

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No wonder, such a move has got huge ramifications for the country and it would be fair just to say that nobody really has an idea of the entire range of effects that the move can bring. However, there are certain things which can be gleaned easily. Let’s take a look:

The intended consequences:

If we turn the clock back, we will see Prime Minister Modi’s election campaign largely focused on fighting against black money. The steps which were taken in this direction did not yield fruitful results and thus this bold step was inevitable which PM Modi decided to take, to give rise to New India.

The legal holders of cash can easily deposit their large denomination notes with their banks by providing the accounted source and identification. This means that most legal holders will not be losing the money, while for the black money holders it would be extremely wary of depositing their money as it will leave a trail for the income tax authorities.

New 500 and 2000 rupee note.
New 500 and 2000 rupee note.

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It is important to note that this is an important step and necessarily a one-time clean sweep of black money that will go a long way to reducing the stock of black money in the economy. Then again, it would be totally meaningless if strong measures are not taken in order to curb the sources and the flows of black money. Which we hope would be taken care of.

“This is the golden age to be a tech entrepreneur in India. Specially a fintech one,” tweeted Vijay Shekhar Sharma, the founder of Paytm, whose investors include Alibaba Group Holding Ltd.

Unintended Consequences:

When a huge step of curbing black money is taken, it is sure to have some unintended consequences as well. But, undoubtedly those will be of temporary nature, while the others will have long lasting effects.

Like FirstPost said, “Despite the pain for the public in the short-term, Modi’s Tuesday evening bitter pill is precisely what the doctor ordered.”

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The unintended consequences started on the Tuesday night itself, as people witnessed long queues in front of the ATMs, at petrol stations, and supermarkets where the people could exchange their high denomination notes. Mini bank runs, long queues at the banks, and a general liquidity crunch is to be expected in the few days.

– by Pinaz Kazi of NewsGram. Twitter: @PinazKazi

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Aadhaar Helpline Mystery: French Security Expert Tweets of doing a Full Disclosure Tomorrow about Code of the Google SetUP Wizard App

cryptocurrency. google
Google comes up with a new feature

Google’s admission that it had in 2014 inadvertently coded the 112 distress number and the UIDAI helpline number into its setup wizard for Android devices triggered another controversy on Saturday as India’s telecom regulator had only recommended the use of 112 as an emergency number in April 2015.

After a large section of smartphone users in India saw a toll-free helpline number of UIDAI saved in their phone-books by default, Google issued a statement, saying its “internal review revealed that in 2014, the then UIDAI helpline number and the 112 distress helpline number were inadvertently coded into the SetUp wizard of the Android release given to OEMs for use in India and has remained there since”.

Aadhaar Helpline Number Mystery: French security expert tweets of doing a full disclosure tomorrow about Code of the Google SetUP Wizard App, Image: Wikimedia Commons.

However, the Telecom Regulatory Authority of India (TRAI) recommended only in April 2015 that the number 112 be adopted as the single emergency number for the country.

According to Google, “since the numbers get listed on a user’s contact list, these get  transferred accordingly to the contacts on any new device”.

Google was yet to comment on the new development.

Meanwhile, French security expert that goes by the name of Elliot Alderson and has been at the core of the entire Aadhaar controversy, tweeted on Saturday: “I just found something interesting. I will probably do full disclosure tomorrow”.

“I’m digging into the code of the @Google SetupWizard app and I found that”.

“As far as I can see this object is not used in the current code, so there is no implications. This is just a poor coding practice in term of security,” he further tweeted.

On Friday, both the Unique Identification Authority of India (UIDAI) as well as the telecom operators washed their hand of the issue.

While the telecom industry denied any role in the strange incident, the UIDAI said that he strange incident, the UIDAI said that some vested interests were trying to create “unwarranted confusion” in the public and clarified that it had not asked any manufacturer or telecom service provider to provide any such facility.

Twitter was abuzz with the new development after a huge uproar due to Telecom Regulatory Authority of India (TRAI) Chairman R.S. Sharma’s open Aadhaar challenge to critics and hackers.

Ethical hackers exposed at least 14 personal details of the TRAI Chairman, including mobile numbers, home address, date of birth, PAN number and voter ID among others. (IANS)

Also Read: Why India Is Still Nowhere Near Securing Its Citizens’ Data?