Prof RV interviews Sree Iyer on his new book Who painted my money white?

Sree Iyer says, "Do the math. Each container that carried counterfeit currency with 500- and 1000-rupee notes was worth 5000 crores. How many actually arrived? Was this the reason new notes had a different dimension? How was this money used?"

India – Who painted my money white: When greed drives everything else and everything has a price (Money Trilogy Book 1) Kindle Edition

US – Who painted my money white: When greed drives everything else and everything has a price (Money Trilogy Book 1) Kindle Edition

A ship carrying 2 containers, each containing Rs.5000 crores in 500- and 1000-rupee notes, docks in the dark of night at Kochi. The money is quickly distributed to members of a minority community using a network of 100 Chartered accountants. The bulk of the money finds its way back into fake firms, shell corporations and charities with the sole aim of destabilizing the country.


Greedy politicians of the Freedom Party want to ensure that the opposition can never come to power. Pander to the largest minority, enrich them beyond their expectations and ensure they will be with the party. To this end, a plan is hatched to print high denomination money and try and increase the velocity of money, thereby creating the illusion of growth. A compromised Finance Minister is forced to buy paper from the same sources as India’s rival Pakistan. Their intelligence wing gets hold of the security threads being used in Indian notes through honey trapping and comes up with notes that are almost as good as the real ones.

The fake money brought in slowly starts moving around the country, driving up inflation and real estate prices, mixing with good notes. Because of a series of scams, the government gets voted out and a single party (People’s Voice) gets an absolute majority. The new party responds to a terrorist attack with a surgical strike deep in the enemy territory.

Pakistan decides to retaliate by flooding India with fake currency, by tripling its fake currency production. India responds by demonetizing the 500- and 1000-rupee notes and printing new notes of a different size. But despite the best attempts, a porous border with Nepal and Bangladesh results in a significant amount of the fake currency entering Indian banks. When the notes were tallied, instead of 87% of printed notes coming back to the Reserve Bank, 113% comes!

The counterfeit money is used to spawn different types of nefarious activities including a plot to assassinate the newly elected Prime Minister. Will the Intelligence Bureau track the assassin and protect the PM? Read this to find out.


  1. I would like to buy this book .But I couldn’t find anywhere online. Can somebody let us know where and how can we buy this?

  2. The demonetisation which was supposed to be a masterstroke by Modi Government turned into a damp squid after bulk of black and counterfeit money was returned back to the bank. The problem was entirely due to the poor implementation by the finance ministry and the banks.
    It was like the escape of Bin Laden from American forces after the fall of Afghanistan, when the Americans knew about the possible escape route, but were hoodwinked by pakistani to believe that they had a watertight security.

    Why the banks were not told to note the name and take copy of photo identity / fingerprints of the person returning the notes / cash.

    Why the Banks simply did not accept the entire money back into bank accounts or allowed people to open new accounts with a proper KYC.

    Why the cash meant for the ATMs was routed to corrupt politicians, business men and even flown to North east states for conversion. Even while large cash was caught, no follow up action and to find where the cash was coming from and to who it was being delivered.

    Many businessmen converted their cash stash of many crores easily. Many banks officers were helping them to do so.

    Even now there is no check on proper KYC and benami companies and directors are being used.
    The banks do not blink their eye while giving loan for a Series 7 BMW to a guy staying in a Jhuggi / illegal colony, just because he is a benami director in a company and the car is used by the actual owner. The Bank Managers know the entire game but are hand in glove to make extra buck.

    The situation will not change till we have strict laws with minimum 10 years rigorous imprisonment for financial crimes and for frauds of any kind.


Please enter your comment!
Please enter your name here