Let’s find out …!
Have a look at this Rs.1000 note
Read out what is written above the RBI governor’s sign.
‘ I promise to pay the bearer the sum of one thousand rupees’.
So the governor of RBI made a promise that when someone hand over this note to the any bank in India then they will pay you an equivalent amount of 1000 rupees.
Now the question comes I your mind, Is this note really costs a thousand rupees, No, it actually costs very little and only having a symbolic value of worth one Thousand. Each and every currency note of our country will cost around just Rs 3 and a Thousand rupee note will cost Rs 3.17 to make.
Now lets suppose you have a good job, where you work hard every day and at the end of the month you have your salary in your hand in the denomination of Rs1000 notes.
Take a 1000 rupees note and consider.
The note in your hand is the payment for the services that you offered and previously this note belong to another employer, but by the promise written on the note, the governor of RBI was supposed to give you the sum of a thousand rupees from your previous employer.
But what is going here with your money “Jo aaj tera hai,Kal kisi aur ka tha,Parson kisi aur ka ho jayega”, but instead you offered a service that worth a thousand rupees.
Now suppose you are the governor and you supposed to give an equivalent amount of a thousand rupees money.
But instead of giving thousand rupees, you decided to go ahead and burn it.
And now, you no longer have any note.
So you never claim anything at the bank.
The RBI governor is no longer supposed to pay you the equivalent of a Rs. 1000 rupees.
So what you actually made the governor richer by a thousand rupees.
But wait and think The governor is only an employee of the RBI.
So, in reality you made the RBI richer by a thousand rupees.
And the RBI is for the nation.
So Congrats, now you have made your nation richer by a thousand rupees.
But How let’s Understand?
By burning a Note you gave away your claim to the thousand rupees to the nation who has owed you for paying for your services.
So now you are poorer by Rs. 1000 rupees.
Interesting fact: Since the RBI has spent an amount of Rs 3.17 to print the thousand rupee note, and you had loosed a thousand rupee note, but the nation got richer by Rs 996.83.
Now one more question will strike in your mind, How and Where the amount of Rs996.83 will spend?
- On governance
- On building roads
- Building bridges
- On front page posters of Modi in TOI
- Of course on printing notes so that another adventurous guy like you can burn it.
Note: Never mistaken, this article as to be the encouragement for burning money. I do not endorse burning currency notes.