Money Circulation in a Different Manner

| Posted: 10-03-2008 | Comments: 0 | Views: 14 | Rating: (53)

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Money circulation in a different manner

Time has come when we should ensure that money is circulating it is reaching to the people who need the same. At present there are so many financial institutions who are getting deposits from the public and keeping the same amounts safe for refund with interest. The banks are on the forefront in this line. The banks have started working on one serial of account numbers throughout in the country and therefore, it has become easy for them if they start a deduction of rupees five from each account monthly and collecting this amount each month, they may draw a lottery of one account number and give this amount to the winner. The list of banks functioning in India is large and even our post offices are functioning like banks, so many people shall be becoming crorepatti each month. The draw could be conducted through computer and if need be the winners could be more than one and the amount deposited could be distributed amongst the winners.
We have noticed that so many states and some other organizations are already running such types of lotteries. The banks could also be permitted to run such lotteries and at the same time, if this process is introduced, more people shall be opening their bank accounts and accounts with other such financial institutions. The people could be in the line of expectants and the organizers shall also save money which they are spending in printing and selling the lottery tickets. There shall be no bungling and all shall have faith in this process.
Therefore, it has become most necessary for the Reserve Bank of India to consider this matter, and if it is found feasible, the banks may be given directions to start such lottery schemes, keeping in view the number of account holders. They may be fixing the prize money after deducting their own expenses in running this lottery scheme. The people may also consider this scheme and if they think that this is a good scheme and it shall be in interest of the depositors, they too must come out with this idea before the Government and they should request the states to introduce this scheme in all the financial institutions where the people are having saving accounts. Even insurance and assurance companies can run this scheme. Money must circulate and we the people who are paying a sum of rupees five only in a month shall not be the loser, but the people who shall get the prizes shall be the beneficiaries.

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Article Tags: banks should work as lottery houses so that so many people may get prizes and become rich

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