Introduce additional measures to make demonetisation a success.

Demonetisation of Rs 500 and Rs 1000 is a great move to prevent corruption, black money and terrorism and all connected ills. To make it a success, the Government should simultaneously introduce steps to have some information on an ongoing basis or through Income Tax returns the quanitty of Gold held by people, lands held by them and other types of properties held. If feasible, it is very ideal  time to start a Gold Bank to mobilise Gold from people and convert these Gold into productive assets. Gold Bank can be a separate entity under the Reserve Bank.  This concept of Gold bank would work wonders for the nation and the economy and Perhaps India can be leader and a model to the world on having a gold bank  The hoardings of Gold in the form of black money and otherwise are huge and once the bank is established, and part of the hoardings of gold can be brought to gold bank ,the shortage of funds needed for the economy to develop Infrastructure, and give a boost to agriculture and the Financial system can be a history 

The  gold and funds held in temples should be made transparent on an ongoing basis and they can be made to supplement banks efforts in reaching the masses with small denomination notes. They should not divert their funds to rich and mighty to cover up the conversion of old Rs 500 and Rs 1000. They should be asked to report their holdings of gold, small Denomination and demonetised notes immedoately as otherwise the Rich who are controlling the trusts and temples would take advantage of these institutions to cover up their black money.

Dr T. V. Gopalakrishnan