(A detailed version of this chapter in notes #301.009 on http://facebook.com/mehtarahulc )
Download this chapter 9 : http://www.righttorecall.info/301.pdf
9.1 Role of RBIG (RBIG = Reserve Bank of India Governor)
The RBI Governor plays the most important role in wealth distribution, and often takes wealth away from poor and gives it to the rich by manufacturing new rupees (M3) and ensuing that the newly manufactured rupees go to the rich. This is explained later in money supply related chapters. In this chapter, I will only describe the solution – the procedure by which we citizens can replace RBI Governor. More details are in chap-23.
So please note – our proposal is NOT that we will come in power and will enact Right to Recall RBI Governor law-draft. And we do not insist that PM should be forced to print RTR-RBIG-law-draft in the Gazette. Our proposal is — we, citizens of India, should ask PM to take public opinion using TCP on whether RTR-RBIG-draft should be printed in Gazette or not. The public opinion will enable PM to decide whether RTR-RBIG-draft should be printed in the Gazette or not.
9.2 Right to Recall RBI Governor
Following is the description of one of the most important Govt Order we MRCM propose-demand and promise to fix the Rupee System of Indian
1. Any citizen of India can pay a deposit same as MP election to the PM’s secretary and register himself as a candidate for RBIG (Reserve Bank of India’s Governor).
2. Any citizen of India can walk to Talati’s office, pay Rs 3 fee , approve at most five persons for RBIG position. The Talati will give him a receipt with his voter-id# and the persons he approved.
3. A citizen can cancel his approvals any day as well.
4. The Talati will put the preferences of the citizen on district’s website with citizen’s voter-ID number and his preferences.
5. If a candidate gets approval of over 50% of ALL registered voters (ALL, not just those who have filed their approval) then PM may expel the existing RBIG and appoint the person with highest approval as RBIG.
The detailed law-draft is as below.
9.3 Draft of the Gazette Notification for Right to Recall RBI Governor
Following is the GN draft needed to create Right to Recall RBIG procedure . The citizens can get this draft printed after they have forced PM to print TCP in the Gazette.
|#||ProcedureFor||Procedure / instruction|
|1||–||The word citizen would mean a registered voter|
|2||Cabinet Secretary||If any citizen of India wishes to become RBIG (Reserve Bank of India Governor) , and he appears in person or via a lawyer with affidavit before the Cabinet Secretary, the Secretary would accept his candidacy for RBIG after taking filing fee same as deposit amount for MP election.|
|3||Talati ,(or Talati’s Clerks)||If a citizen of that district comes in person to Talati’s office, pays Rs 3 fee , and approves at most five persons for the RBIG position, the Talati would enter his approvals in the computer and would him a receipt with his voter-id#, date/time and the persons he approved.|
|4||Talati||The Talati will put the preferences of the citizen on district’s website with citizen’s voter-ID number and his preferences.|
|5||Talati||If a the citizen comes to cancel his Approvals, the Talati will cancel one of more of his approvals without any fee.|
|6||Cabinet Secretary||On every 5th of month, the CS may publish Approval counts for each candidate as on last date of the previous month.|
|7||PM||If a candidate gets approval of over 51% of ALL registered citizen-voters (ALL, not just those who have filed their approval) in a district, then PM may or need not expel the existing RBIG and may or need not appoint the person with highest approval count as RBIG. The decision of PM will be final.|
|8||District Collector||If any citizen wants a change in this law, he may submit an affidavit at DC’s office and DC or his clerk will post the affidavit on the website of Prime Minister for a fee of Rs 20/- per page.|
|9||Talati (or Patwari)||If any citizens want to register his opposition to this law-draft or any section or wants to register YES-NO to any affidavit submitted in above clause, and he comes to Talati’s office with voter-ID and pays Rs 3 fee, Talati will enter YES/NO and give him a receipt. The YES-NO will be posted on the website of the Prime Minister.|
9.4 How will three line law-draft and procedure to replace RBIG improve price control
The one and only one reason behind price rise is rampant manufacturing of rupees (M3) via RBI, SBI etc The rampant increase is authorized by RBI Governor despite opposition of majority of the citizens. The RBI Governor acts recklessly because citizens don’t have procedures to expel him. But once citizens get procedures to expel/replace RBI Governor, RBIG will behave and would not permit rampant manufacturing of rupees. This coupled with other laws proposed in “improve RBI” chapter will control prices without reducing growth.
So the day citizens manage to force PM to print TCP in the Gazette, someone may submit draft for Right to Recall RBIG as affidavit. The crores of citizens who are heavily impoverished due to rupee manufacturing may register YES on this affidavits, after they are explained hoe RBIG is responsible for the price rise. And once crores of citizens register YES on this affidavits, the PM will be forced to print these laws. And once procedure to replace RBIG comes, RBIG will be forced to reduce money manufacturing, reduce corruption in lending and that will control price rise and also increase the real growth. Thus, using three line TCP law-draft, we can reduce price rise and increase growth without getting even one MP elected.
If RTR-activists insist on waiting till they get majority in Parliament and then enact RTR over RBIG, then there is possibility that RTR-activists will be waiting for ever. First they may never get majority in Parliament. And worse, even if they get majority, there is possibility that their “own” MPs will sell out and refuse to pass RTR laws. E.g. in 1977, Janata Party MPs had promised to pass RTR laws before election, and after getting elected, later they refused to pass RTR laws. So IMO, RTR-activists should focus on creating mass movement on TCP rather than “winning election” based method.
9.5 How can YOU help in bringing pries in India under control?
Please read chap-13 of this book http://rahulmehta.com/301.htm . It has several steps where-in you can spend 6 hours a week and help to bring RTR over Reserve Bank Governor draft in Gazette in India. The steps involve distributing pamphlets, informing citizens on motives of leaders such Congress MPs, BJP MPs, The Anna etc who oppose RTR Reserve Bank Governor, by giving newspaper ads, contesting elections on RTR, RTR-SCCj, MRCM, TCP etc. Once TCP gets printed in Gazette, RTR-RBIG will get printed in 1-2 months and price rise will reduce.