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Is the new note of Rs. 2000 is note worthy? – Critique of the design
India has introduced the new currency note of Rs. 2000 which is the highest currency in circulation in Indian economy. The new currency note has led to erode the old notes of Rs.500 and Rs.1000 and collapsed the whole Indian financial system. The main focus is to counteract the black money and corruption. RBI has declared that the new currency has been designed at the central bank. The impact of demonetization has hit the middle classes, poor people, industrialists and economic activities. The effect has adversely affected the agriculture and business sector and made the citizens to be chaotic. This has led to long queues in banks and ATMs and resulted in massive inconvenience among the Indian people. 84% of currency which was in circulation is demonetized. Demonetization has added panic among the investors as it hit the stock exchanges and led to increase in market volatility. The new design of the currency is typical, aesthetic and geometric.
Critique of Design of Rs. 2000:
Lack of Distinct Concept:
There is no uniqueness in the design and has no theme or idea behind the note. There are random ornaments like Gandhi, Mars Mission, Swachh Bharat Logo, Elephants, Lotus and Peacock Patterns. Interestingly, Lotus is our national flower, Peacock is our national bird, but Elephant is not our national animal. There is no logic in using elephant as tiger is our national animal.
The front (Gandhi side) of the note has 11 different typefaces, written in 14 sizes and 12 weights. The back (Mars Mission) has 6 (without counting the various scripts), written in 11 sizes and 9 weights. This is not counting the serial number which itself has 7 different sizes of numerals (apparently a security feature).
Color of the currency:
The color of the currency is pink which really looks odd representing like a fun color coupon and people has perceived that it does not look like money. The color choice would have been light and many color combinations are available. Though few people like pink color but many dislike the color with respect to currency. It looks like a paper and could have tried blend off plastic and polymer like that of European currencies.
The new Rs. 2,000 note has no consistent aesthetic mix of colors and design layout and shows it is quite subjective in nature. But previous 500 and 1000 rupees had a distinct aesthetic value. Though the notes have some security features it has disheartened many people in the design of the currency. The aesthetic swings from ornamental motifs (of which there are 4 different styles) to spirograph motifs. From an engraved depiction of Gandhi to a depiction of “Mangalyaan” in some kind of a three tone style. From bold geometric to batik-style motifs of elephants and peacocks and from Swiss Punk Typography to Mughal-esque patterns.
Size and Layout:
The size of Rs. 2000 note is 66 mm tall and 6mm shorter than the Rs.500 and Rs.1000 notes with the same height at 72 mm. The government has failed to think the consequences from the design decisions. The information is disorganized with no due account given to alignments and huge abrupt in sorting the grid. Around 23 visual units on the front and 17 on back side of the new note are not aligned with each other as shown in the below image. Though security features are made for the currency, the justification of the same is not done by RBI.
Impact of new currency:
The main objective of the introduction of new currency of Rs. 2000 is to erode black money, move from cash economy to cashless economy and enhance digital transactions and to eradicate fake note circulations.
The new currency is able to store the money and it is ineffective for everyday transactions for buying groceries on the street, beverages, and snacks in the local bus or train.News...Technological news...Government Services.... Jobs information...Movies everything is available in our website IndianServers Pls bookmark our site for latest stuff Remember : Indian Servers is the source for more trusted and Authenticated news
It is helpful if the amount of transaction is more than 1500 but it does not facilitate easy usage in provision of change in every day transactions.
It has a strong impact on rural economy as many of the people who live in villages do not have a bank account so exchange of notes and transactions becomes a huge struggle for them.
Small grocery shops, chaiwallas and maids leave their business and stand in a queue to deposit the old notes in the bank.
The demonetization can lead to deflation in the economy and huge distress to real estate, construction material and trade and services sector.
Huge practical difficulties that people are facing; particularly the owners of consumer perishable stock without the new notes and shortage in changes of the currency.
Coutersy : http://bearddesign.co/blog/inr-2000-currency-note-design-critique/
Immediate #Demonetization benefits—— Achieved till date.
1. 100% Fake currency out of circulation in one stroke
2. Hawala sources from outside and Inside dried up for Funding of Terrorists, Maoists, Naxalites ,Jihadis.
3. Cash to create chaos and terror lying with Terrorists, Maoists, Naxalites ,Jihadis gone waste.
4. Kashmir back to normal in one stroke. AAZADI forgotten. Children back to school .95% turnout in J&K for exams and no schools have been burnt or no stone pelters to be found.
5. Jan Dhan accounts are full with money( more then 1 lakh transaction will cease to be BPL account)
6. India has around 13 lakh cr denomination of old 500 and 1000
7. More then 3 lakh cr cash already deposited in Banks
8. 6000 cr cash deposited by only one Gujarati businessman. He has paid around 5k stipulated tax and penalty also on it.
9. All business men are depositing cash lying with them as current yr income with ADVANCE TAX
10. ALL Jewellers are being issued Forms to declare their GOLD STOCK from 8th nov onwards on day to day basis.
11. ALL Jewellers whose stock doesn’t not match with old record will be screwed big time.
12. Via Jewellers all those who have bought Gold will also not escape Income Tax net
13. 55 lakh money disputes settled in one day in lok adalat
14. Defaulters of Banks ,Property Tax , Electricity bills, Telecom bills are clearing their long pending dues
15. Defaulters of all kind of Govt taxes are clearing their dues
16. Govt moving towards Target of Cashless economy
17. Lot of small vendors have started using Apps like Paytm, Wallet facilities. Also installing Credit /Debit machines.
18. Banks are asking and guiding people to become cashless.
19. Businessmen with less black money declaring their money as Current yr income and depositing with Advance Tax.
20. All with loads of Black money in cash either will surrender money with tax and Penalty or destroy it.
21. Next cleaning going to start with declaration of Benami Properties
22. Only 2 options –Either claim property and pay tax or give it up.
23. All those people who are exchanging money of rich for 30% commission will lose their BPL status if transaction in their account is more then 1 lakh. All others will have to pay tax and penalty on money deposited above 2.5 lakh
24. Fiscal deficit of India set to reduce.Even it will lower the prices of essential commodities, help in reducing the interest rate, contain inflation and not only fiscal deficit but also help in lowering CAD (current account deficit) and narrow down the trade deficit.
25.Banks have started mobile ATM for Hospitals
26.19 Banks have come together to start Unified online transaction
Either way Clean up is happening in big way .Govt is also collecting huge taxes.
Present is good. Future will be better #IamWithMody
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