How to save your nation’s economy from disruption.

How to save your Nation’s economy from disruption. 



Short link:

Universally Governments Operate Money as Commodity. (UGOMAC)

#UGOMAC is about many things I had been writing over past two decades:

  1. How #MoneyThroughMobile (mTm) Technology can help to quicken #InclusiveGrowth.
  2. The urgent need of having exclusive #PaymentBanks under RBI/NPCI.
  3. Universal uniform Payment Methods in the Country using UUID.
  4. The Power and Perils of Money Going Virtual, how to convert it advantage.
  5. Need of regulating influx of Private e-money businesses, role of RBI in it.
  6. The urgent need of the prerequisites taken up and done in the developing countries on war footing basis to smoothly move over to digitalization.
  7. How Governments across the World can generate enough revenue for its needs by operating their money as commodity without burdening poor and commoners with too many taxes.

I wrote and published many papers on these in my blog  in  In fact, I happened to have devised and tested out the idea of Money through Mobile (mTm) in early 1996 along with implementing the first IN based GSM Mobile Pre-Paid Service in India. Visualizing its disruptive potential, I did not venture to do it myself then. Since then I had been persuading the Federal Governments, Finance ministers, Planning Commissions, the Political Masters, Bureaucrats, et all. Unfortunately, neither Governments nor the Print & Visual Media took note of my papers on these in papaulsblogs in and thousands of Tweets and dozens of writeups in Print and Main stream media. (Thanks to the few kind enough to report some, now and then.)

Nonetheless, it was good to see finally Sri Raghuram Rajan, the Ex. Governor RBI  approve Payment Banks (too many though), also pushing NPCI to create Uniform Payment Interface UPI and initiating the formation of Consortium of authorized as I had been persuading for many years as can be seen in my many papers published in papaulsblog  Thanks to Sri Nandakani for creation of Aadhaar the Indian version of UUID, one of the important ingredients; well before it with many teething problems though, privacy issue is one of them.  (There is nothing known as perfect in PLANNING, wait for it and nothing happens. Moving ahead using the best of the contemporary, always with an eye on the future, is the way to go.)

However, with change of batons in Governments /RBI; the momentum seems to have lost except in sloganeering by Political Masters, top to bottom in Government and every T, D & H in the Party.  Digital India, Cashless India etc., and other learnt by heart and badly knit jargons became the catch words of everyone, knowing anything about it or not, everywhere, in place or else.

Then the State elections wanted some a quick fix vote catcher ideas; an ill planned and quickly baked Demonetization idea was handy that worked politically well but Government lost the Rods, line, hook and baits in the economy front.

Nonetheless,  I continued persuading  the Government,  RBI/NPCI and heads of Banking Industry to move on and also tried my best to convince them about the lurking  dangers of fast mushrooming private e-money businesses that left unregulated will guzzle up Physical money diminishing liquidity, drain Banks killing Banking Industry and eventually the parallel economy of #VirtualMoney created by business houses with such unscrupulous methods of day light robbery will disrupt Nation’s Economy as explained  in my paper on “Power & Perils of Money going Virtual”

True that Advance of Technology disrupt the path it grows. But the World cannot remain silent spectator allowing such a catastrophic situation pass on without doing something about it. The way out is to walk the disruptive path, and walk all the way until ways and means found to convert it as advantage; adv. Government and adv. People as I had been suggesting for long to everyone concerned,  how it can be done in my paper “Inclusive Growth, Eradication of Corruption / Black  Money, #Cashless Society, better restraints on Terrorism – all in one go” and a also a side product ‘Tax Free Regimes’ as a Bonus. Please see how, in my paper in the link  Nothing new, no Rocket Science. I gave presentations on these in Institution of Engineers, Trivandrum, two years back.  Further, the above idea, a first of its kind, can find its application and adaptation in Countries across the World as suggested in my paper #Universally Governments Operate Money as Commodity” on how Governments can generate enough money for its needs without any other form Taxations, Direct and else  in the link

As can be seen, this idea offers in golden platter, the one and only way, and the most effective and workable too, in tackling the biggest problem being faced the World over in a simple way making use of Technology transparently monitor and control Money flow into wrong hands. However, jumping into it without its many prerequisites made ready in war footing basis in developing countries like India will be disastrous if not suicidal.  I wrote about this in exhaustive detail long back in my paper But then, it is it not astonishing rather unfortunate to find the actions of Government / RBI of late, allow Private e-money business houses set up #PaymentBanks; that not only fully defeat the whole purpose of making payment banks and also reverse progress made so far in this area. Finding the Media chose to remain blind, deaf & dumb, may due to obvious reasons, I had been privately communicating with Hon. PM inviting his kind attention before things go out of hand.

Please see more elaborate article on this topic in the link:

Abraham Paul P.   FIETE, FIE.

Freelance Consultant. Melbourne.  Tweet @pa_paul

Ex. Owner FCOMNET (Futuregroups. India & UAE) / Vice President (TS) SPCNL SIEMENS ICN Germany / Director (Trg, SC & TS) SIEMENS ICN RHQ, Dubai. / G.M & SMT TBG BPL Mobile India. / Telecom Engineering Service (I) DOT India.



About Abraham Paul

Vision & Objective: Telecom has always been the passion of my life. After 60 years of outstanding career and many personal contributions to the industry, I still have same urge, and desire to give back to the industry, the abundant experience, knowledge and potential acquired, by providing consultancy service to forward looking enterprises and entrepreneurs in Legacy and New generation Telecom & IT in the areas of Business Management, Technology, Engineering and Services. Apolitical and religiously unbiased.
This entry was posted in Inclusive Growth, Cashless Society, Tax free regimes, Eradication of Corruption and Black Money, Contol on Terrorism - in one go., IT based services, Money as a Commodity, Politics & Governance, Telecom Technology, Universally Goverments Using Their Money as Commodity (#UGOMAC), Universally Goverments Using Their Money as Commodity (UGUTMAC), Universally Governments Operating Money as Commodity. Bookmark the permalink.

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