With persistent double digit inflation, the price of high level corruption has also sky-rocketed, so much so that it has become increasingly cumbersome to conduction high value transactions using wads of Rs.500 and Rs.1000 notes. In order to reduce such dead-weight transaction costs and improve liquidity in the corruption sector, the RBI has decided to introduce currency notes in denominations of 1, 50 and 100 crores into the economy. The FICCE (Federation of Indian Chambers of Corruption in Everything), an apex body that caters to the interests of big players in the black economy has lauded the move.............
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