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This simple analogy explains why RBI is changing rules everyday

Tushar Jain by Tushar Jain
24 December 2016
in Opinions
rbi demonetization
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Once, a mansion housed 15 wealthy people. Hardworking and honest, they used to leave each morning for their respective workplaces. Work was indispensable to their wealth. As a family, they spent their evenings together discussing the events of the day, but for a few evenings now, they were worried for their mansion was under attack from deceits and robbers. Each evening, they were returning to their rooms only to find something expensive gone. The thieves had robbed the living areas, gardens, pools, and other parts of the mansion too.

The family had 7 servants. Trusting them with the security of the mansion, these 15 people would leave for their workplaces each day, but with the growing number of thefts, the family decided to go for 3 security guards, and this is what happened next:

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Day-1: The family returns home to find the mansion robbed again. They call in the security guards to question them but are told that the guards had been distracted by three different servants at three different locations.

The family goes for security cameras next with 3 additional guards to monitor them, and alongside, warn the servants who had been distracting the guards with the threat of security cameras.

Day-2: The family returns home to find the mansion robbed again. While the security guards had left it to the cameras, the cameras had been disabled by someone by cutting the supply line, and before the new guards could have someone to repair it, the theft had taken place.

The family goes for more cameras with more security guards;

Day-3: The number of thefts does come down and one servant is caught with an expensive item, but before he could be taken to the cops, he escapes. The family lauds the efforts of the guards and sleeps a little more peacefully.

The family doesn’t make any changes to the existing security structure, assuming that the worst has passed.

Day-10: The family returns home to find a greater part of the mansion robbed. Most of their items are gone. Upon questioning the guards, they find that the servants were doing their work all day and the guards did not see anyone suspicious.
The family decides to go in for alarms and sensors and leaves their monitoring to a senior guard;

Day-15: The family returns home at lunch itself because the sensors had alerted them on their Smartphone devices, but by then, the entire mansion has been robbed by the collective effort of the servants and the guards.

The family is in despair and doesn’t know what to do next when the youngest one of the lot speaks up.

“What if we never told the servants about the camera?”

The family is India, the servants and guards were the people who, after demonetization came into play, wanted to change currency, convert the old one into new at a given rate of interest, were excessively trading in gold, and helping corrupt fetch commercial and residential property at throwaway prices for the old black currency to be converted into legal currency.

For the ones who are sick and tired of RBI changing the rules each day, please note that this is a country that found methods to convert black money into white within an hour after 86% of the currency was thrown out of circulation i.e. demonetization.

Therefore, if you were expecting the RBI to have a set of rules for the entire duration till 30th December, you are as wise as those idiots who left the security details of their mansion to the same people who were robbing them.

The problem is that RBI and Government of India is against people with no set of rules, and against those who are hell bent on encouraging corruption, and therefore, I don’t blame the RBI for keeping these crooks on their toes by spinning the rules like Warne and Murli used to spin the ball.

Tomorrow, we decode the previous 40 odd days when demonetization took effect, and why must we rest our faith in the Prime Minister.

Tags: Black MoneydemonetizationRBI
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