Salient features of Shree Currency

Shri Currency - What is it?
  1. Shri Currency is an additional currency, a currency available to the people in addition to Indian Rupee (INR).
  2. Shri Currency is not a substitute for INR. It is to complement INR.
  3. Shri Currency is not a cryptocurrency.
  4. Shri Currency is not a fiat money (obviously).
  5. Shri Currency is for the proletariat. It would be created and consumed by the proletariat.
  6. Some of the features of Shri Currency are given hereunder
  7. It comes with an expiry date - each unit is time stamped and has an expiry date.
  8. However it does not age when it goes into hibernation (explained later)
  9. It does not earn interest. It has no ‘time value’ in the conventional sense.
  10. It is freely transferable.
  11. It can be converted into INR (conditions apply) but not vice versa.
  12. A central authority would be in place to implement and monitor the scheme in a transparent way.
  13. Hibernation is a period when Shri Currency is invested in ‘eligible projects’ to meet the project cost.
  14. In brief, Shri Currency is a currency of the proletariat, by the proletariat and for the proletariat.
What is the purpose?
  1. It is to protect the proletariat, people at the bottom of the pyramid.
  2. It is to empower the proletariat.
  3. It is to create opportunities for the proletariat.
  4. It is to insulate the proletariat from sudden, unpredictable shocks that may arise in the macroeconomic environment for whatever reason. (There are plenty of reasons to worry about and there are plenty of imponderables both domestic and international).
  5. It is to check the exploitation of the proletariat by the rich, influential, powerful and well connected.
  6. It is to take care of the very basic needs of the proletariat like health, hygiene, nutrition, shelter and education.
  7. It is to check migration of poor people from villages to the cities for economic reasons.
  8. It is to make the Indian economy more stable - a bicycle is more stable than a monocycle, right? (If one takes into account forex reserves it becomes a tricycle, even more stable)
  9. It would focus on both rural and urban poor.
  10. Though unintended, it can check counterfeit currency too.

Shree Currency E-brochure