Smart Money System (SMS)
Description:
Smart Money System is the Virtual Banking System, which governs the Electronic
Money Fund Transactions. It helps all Indian are corruption free. It helps government to
identify and monitor all the financial transactions across country irrespective of whatever
transactions. This Smart Money System must be associated with the unique identification
service and Banking / any investment services. For a given unique Id / SMS id, it can
able to provide all the associated Banking a/cs and any financial investments a/c. From
the a/c no, you can track all the financial transactions for an individual / corporate. Both
Individual / corporate should access the SMS system to receive / Send Funds to others
using any channels (Mobile online / Web site / IVR / SMS Booth / SMS Kiosac. SMS
system will be 24/7 service across India.
Benefits:
To reduce Corruption :
To Enhance Our Countries income
To Track funds in a Systematic way
To help poor people on education, job opportunities, and all other government benefits.
0-2L per annum – Least Earning People (LEP) - More Government Fund Required
2-5L Per annum - Average Earning People (AEP) – Minimum Government Fund
Required
5-15L Per Annum – Above Average Earning People (AAEP) – Very Minimal
Government Fund Required
15L and Above Per annum - Sophisticated Earning People (SEP) – Government Fund is
not required for their family expenses
100L and above transaction – Above Sophisticated Earning People (ASEP) -
Base Requirements:
1. Unique ID must be exist for each of our Residents.
2. Any Wages / Salary must be given in the form of Banking Transactions
3. All Transactions must go via electronic transfer from small petti shop to business
to business transactions.
4. Applying Various Business Intelligence Algorithm to track the type of Expenses
and Incomes. Based on the Types government will apply the Tax Rules.
5. All the Central / State Government must provide on-line service for any services.
6. Having cash is violation; you will be in-jail for 3 months (non-bail).
7. There will not be any cast. The people will be categorized based on their
Financial Transactions.
8. Each Indian must have SMS A/c
9. Apply standard Tax rules as exit now.
