# Rs 500 and Rs 1,000 notes pulled out of circulation immediately: PM Narendra Modi



## DFC (Nov 8, 2016)

Currency notes of Rs 500 and Rs 1000 denominations will not be legal tender beginning November 9. This was announced by Prime Minister Narendra Modi in a special address to the nation on Tuesday evening. He said the move was aimed at curbing the negative impact of fake currency, black money, corruption and terrorism on the nation's economy. New notes of Rs 500 and Rs 2,000 would be released and circulated soon.


Anyone here has any large amount of black money?


Demonitisation of Rs. 500, Rs. 1000 notes: What you need to know - The Hindu


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## Desmond (Nov 8, 2016)

Where is the source?

I know that this is in the news, but the rules of the forum dictate that you also cite your sources when you post any news.


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## ashis_lakra (Nov 8, 2016)

Its' everywhere in news. Black money holders, beware lol.


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## whitestar_999 (Nov 9, 2016)

A very good decision.Black money is one of the root cause of all problems in India today & this step will help in tackling it.Next step should be to promote online/chq/IMPS transactions as much as possible.


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## icebags (Nov 9, 2016)

all on a sudden they doing this, it may be a little problem for people.but its a good initiative to wipe out black money.

now what is the problem is, same thing will happen again with new notes. govt should suspend using any notes of more than Rs100/- value.

we should use electronic transactions for big transactions, for gods sake. and govt should take banking system to all people, whoever has a valid govt id.





Spoiler



[YOUTUBE]mAPmJPhhzxk[/YOUTUBE]


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## Zangetsu (Nov 9, 2016)

Whatsapp is flooded with this news and jokes on the same.

Indeed its an excellent move by Modi.


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## Desmond (Nov 9, 2016)

I think govt. should do this more frequently. With a constant state of flux, people will find it hard to hoard money in general, let alone black money.


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## SaiyanGoku (Nov 9, 2016)

Desmond David said:


> *I think govt. should do this more frequently.* With a constant state of flux, people will find it hard to hoard money in general, let alone black money.



Making the entire payment/transaction system cashless would be a much better system than that.


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## Desmond (Nov 9, 2016)

No better way to motivate people to use cashless payments.

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## Desmond (Nov 9, 2016)

I think black money hoarders might turn to bitcoin now.

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## Cyberghost (Nov 9, 2016)

Desmond David said:


> I think black money hoarders might turn to bitcoin now.
> 
> Sent from my A0001 using Tapatalk



Its happening

zebpay on Twitter: &quot;Interest in bitcoin shoots in India post cash ban! 

#bitcoin #cashfree #India *t.co/oJaFQcC7wh&quot


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## Desmond (Nov 9, 2016)

alienempire said:


> Its happening
> 
> zebpay on Twitter: "Interest in bitcoin shoots in India post cash ban!
> 
> #bitcoin #cashfree #India *t.co/oJaFQcC7wh"



Foreign bitcoin exchanges might still accept 500 and 1000 denominations.


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## whitestar_999 (Nov 9, 2016)

No foreign exchange worth its salt accepts any cash currency other than euro & dollar.


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## thetechfreak (Nov 9, 2016)

Got my couple of bigger denominations swapped as news as initially spreading. I can only imagine scenes at bank this weekend.


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## kg11sgbg (Nov 9, 2016)

icebags said:


> all on a sudden they doing this, it may be a little problem for people.but its a good initiative to wipe out black money.
> 
> now what is the problem is, same thing will happen again with new notes. govt should suspend using any notes of more than Rs100/- value.
> 
> ...


This is the valid point,and rules must be enforced to be adhered by all regarding this aspect.
Then only the true digital India will reach to the mass where accountability and responsibility should be fixed up with e-governance and all sorts of e-transactions.


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## sling-shot (Nov 9, 2016)

thetechfreak said:


> Got my couple of bigger denominations swapped as news as initially spreading. I can only imagine scenes at bank this weekend.


To smaller?


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## icebags (Nov 9, 2016)

may be we can expect food and land prices come down a bit in coming months/years. they have been skyrocketing for last few years.


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## quicky008 (Nov 10, 2016)

they say there's a limit of Rs 4000 to the amount one can exchange per day for now-so i was wondering,would it be ok(ie legal)if someone were to exchange >rs 4000 in a day(say rs 6000) by exchanging Rs 4000 from one bank and the remaining Rs 2000 from any other bank by showing the required documents?


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## thetechfreak (Nov 10, 2016)

sling-shot said:


> To smaller?



Nothing major, around 2k. No bank nearby hence..


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## icebags (Nov 10, 2016)

realman said:


> Do you guys really think black money hoarders are so stupid that they will get affected? Reliance ka black money kidhar jayega? Everything is a setup. all big black money people already might have converted theirs into white. only the public is getting harassed by this.



this this is probably not intended for reliance.

this is for professionals (doctors / advocates / private tutors / self employed ) & middle/ lower tier businessmen, who serve their clients without registering official transactions & dont bother paying the income / service taxes. Also for all the jaali notes, as , when bank will retrieve the notes, they will check for all sort of jaali notes.

i heard only 2% of indian working population pays income tax. but it's hard to believe only that small percentage of people actually have enough income to reach tax slabs.

anyways, whoever stored raw black money in their secret trunks & under their beds will either loose the money now, will have to make them white by paying fines.

but this is hardly the permanent solution. after 2 years market will be flooded by black cash money again.


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## Deleted member 118788 (Nov 10, 2016)

icebags said:


> this this is probably not intended for reliance.
> 
> this is for professionals (doctors / advocates / private tutors / self employed ) & middle/ lower tier businessmen, who serve their clients without registering official transactions & dont bother paying the income / service taxes. Also for all the jaali notes, as , when bank will retrieve the notes, they will check for all sort of jaali notes.
> 
> ...



Such professionals do not keep black money as cash anywhere. These guys are enough educated about the consequences of black money cash. They have already invested such cash by buying gold in multiple transactions or property. There are many more ways as you know.


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## icebags (Nov 10, 2016)

Geek-With-Lens said:


> Such professionals do not keep black money as cash anywhere. These guys are enough educated about the consequences of black money cash. They have already invested such cash by buying gold in multiple transactions or property. There are many more ways as you know.



true, its a flaw. but chandni chawk businessmen always keep few lakh cash in their hand all the time at the end of the day, after selling electronics all in cash whole day.

so modi pm announced this in the evening and gave only few hours time, so that they don't get time to buy property or gold. its his surgical strike. estimate is a few hundred crore black money will get nullified in this process.

+ all those jaali bills will get wiped out, bank wont accept them. agents from our friendly neighbouring country, who were getting paid so far in jaali notes will fast as few days as well.


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## Inceptionist (Nov 10, 2016)

And corrupt babus who have lost their money will double down on bribes. Gotta earn that cash back in new notes. What a brilliant move!


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## Deleted member 118788 (Nov 11, 2016)

icebags said:


> true, its a flaw. but chandni chawk businessmen always keep few lakh cash in their hand all the time at the end of the day, after selling electronics all in cash whole day.
> 
> so modi pm announced this in the evening and gave only few hours time, so that they don't get time to buy property or gold. its his surgical strike. estimate is a few hundred crore black money will get nullified in this process.
> 
> + all those jaali bills will get wiped out, bank wont accept them. agents from our friendly neighbouring country, who were getting paid so far in jaali notes will fast as few days as well.



Agreed. It won't wipe out the major black money but will wipe out the fake notes completely as well as create a fearful environment for the corrupts.



Inceptionist said:


> And corrupt babus who have lost their money will double down on bribes. Gotta earn that cash back in new notes. What a brilliant move!



Who told you Babus lost their money? Actually, they are the big investors.  One of our local neta built thousand crore empire using his black money. His hotels, schools, real estate projects, trusts, etc etc are all doing business legally. Few months back, he gifted his wife a Lamborghini which he bought using the name of his trust. The irony is that he was caught for taking bribe of 25K a decade back and the case is still pending. 

I was also reading how babus get their huge black money converted using Mauritius funds who officially invest in Indian equities. These Mauritius FIIs buy the share at much higher price than the current market price. If you guys want to see a real example then you can read about "Nandan Denim" stock and all the activities done by Mauritius FIIs in last few years in this stock. It is pretty evident that these companies help Babus to get their black money converted into white. Such companies then will go on capex expenditure to use the newly got cash every year but the same don't reflect in their sales. So, it is pretty obvious the money gets flown somewhere else in the name of expansion. If somebody interested to understand more of it then can watch the video here. How Listed Companies Launder Money - YouTub


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## Zangetsu (Nov 11, 2016)

^^Khaali haath aaye thay hum...Khaali haath jayenge


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## funskar (Nov 12, 2016)

^^Toh hans.. kyoon ki duniya ko hai hasaana


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## icebags (Nov 12, 2016)

i wonder if indian business runs without corruption at all ? black money dealers have gone crazy from past few days. 

also, other crazy things happening in country.

[YOUTUBE]YipJRi5E0K0[/YOUTUBE]


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## theterminator (Nov 13, 2016)

SaiyanGoku said:


> Making the entire payment/transaction system cashless would be a much better system than that.



How is it possible in a country like India? 


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## theterminator (Nov 13, 2016)

thetechfreak said:


> Got my couple of bigger denominations swapped as news as initially spreading. I can only imagine scenes at bank this weekend.



Imagine the workload on bank employees. Already over burdened, now this will break the spirit of many. 


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## thetechfreak (Nov 13, 2016)

theterminator said:


> Imagine the workload on bank employees. Already over burdened, now this will break the spirit of many.


I didn't get from bank though. Spent it at a shop the last day they were valid :/


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## bssunilreddy (Nov 13, 2016)

[STRIKE]Let us assume that a country has $63 trillion in debt[/STRIKE]
*mod edit: No country has $63 trillion debt,the largest debt is presently of USA at $19 trillion*
What it does to repay it?
Anybody tell me...

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## theterminator (Nov 13, 2016)

bssunilreddy said:


> Let us assume that a country has $63 trillion in debt
> What it does to repay it?
> Anybody tell me...
> 
> Sent from my ASUS_T00K using Tapatalk



Are you suggesting that this exercise is used to repay debts? 


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## bssunilreddy (Nov 13, 2016)

theterminator said:


> Are you suggesting that this exercise is used to repay debts?
> 
> 
> Sent from my iPhone using Tapatalk


What do you mean by this exercise?

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## theterminator (Nov 13, 2016)

bssunilreddy said:


> What do you mean by this exercise?
> 
> Sent from my ASUS_T00K using Tapatalk



note demonetisation 


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## bssunilreddy (Nov 13, 2016)

theterminator said:


> note demonetisation
> 
> 
> Sent from my iPhone using Tapatalk


Yes precisely. Now the economy will be rekindled + the debt can be repaid not entirely but to some extent.

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## theterminator (Nov 13, 2016)

bssunilreddy said:


> Yes precisely. Now the economy will be rekindled + the debt can be repaid not entirely but to some extent.
> 
> Sent from my ASUS_T00K using Tapatalk



Its a good move but I deeply feel saddened for the country's bankers. They get peanuts as salaries & their social status is degrading day by day. 


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## bssunilreddy (Nov 13, 2016)

theterminator said:


> Its a good move but I deeply feel saddened for the country's bankers. They get peanuts as salaries & their social status is degrading day by day.
> 
> 
> Sent from my iPhone using Tapatalk


Our country bankers do get good salaries.
That is why there is so much demand for bank exams buddy.

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## icebags (Nov 13, 2016)

yah bankers salary is good and bank managers hold quite a reputation in society. bank prob officers are not very much behind either. 

but u kinda of get pressurized like any private / high profile govt employee gets. currently there is no solution to that.


p.s. today i read in newspaper, sabji sellers & auto wallas at some places have started accepting paytm money. it's a good move.


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## Deleted member 118788 (Nov 13, 2016)

icebags said:


> yah bankers salary is good and bank managers hold quite a reputation in society. bank prob officers are not very much behind either.
> 
> but u kinda of get pressurized like any private / high profile govt employee gets. currently there is no solution to that.
> 
> ...



Many people died as they didn't got the proper healthcare treatment required as many hospitals didn't accepted 500/1000 notes. What do you have to say about that? Don't say that to make a change few people must die. It is a very bad move by government. People didn't earned black money in a day and they have been earning since years which is already invested in different places. The move is majorly only affecting the lives of the normal people. Government also made many technical blunders here. Majority of the ATM doesn't work properly. You can see reports related to it. Another thing is that the attachment to store INR 100 notes is of small capacity. Also, new notes have different size specification. If they wanted to make such a move, they should have first got all the public banks ATM upgraded. We are yet to see the bad effect on the economy which will be seen soon.


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## theterminator (Nov 13, 2016)

bssunilreddy said:


> Our country bankers do get good salaries.
> That is why there is so much demand for bank exams buddy.
> 
> Sent from my ASUS_T00K using Tapatalk



demand is mainly coz of stability of job , remuneration is much less compared to peer jobs considering the risk factors involved


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## bssunilreddy (Nov 13, 2016)

Geek-With-Lens said:


> Many people died as they didn't got the proper healthcare treatment required as many hospitals didn't accepted 500/1000 notes. What do you have to say about that? Don't say that to make a change few people must die. It is a very bad move by government. People didn't earned black money in a day and they have been earning since years which is already invested in different places. The move is majorly only affecting the lives of the normal people. Government also made many technical blunders here. Majority of the ATM doesn't work properly. You can see reports related to it. Another thing is that the attachment to store INR 100 notes is of small capacity. Also, new notes have different size specification. If they wanted to make such a move, they should have first got all the public banks ATM upgraded. We are yet to see the bad effect on the economy which will be seen soon.


Several state governments introduced Health Schemes even to ordinary public.

Every hospital in such states used to provide medical facilities on credit.
Later the respective state goverments used to pay them.

Now why cannot all hospitals do the same by providing medical facilities on credit and later get it reimbursed.

If they think that what Mr.Modi did is good for the country.

Am I right.

PS: When the hospitals were reimbursed later, they used to charge exorbinant sums from the respective goverments.

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## icebags (Nov 13, 2016)

Geek-With-Lens said:


> Many people died as they didn't got the proper healthcare treatment required as many hospitals didn't accepted 500/1000 notes. What do you have to say about that? Don't say that to make a change few people must die. It is a very bad move by government. People didn't earned black money in a day and they have been earning since years which is already invested in different places. The move is majorly only affecting the lives of the normal people. Government also made many technical blunders here. Majority of the ATM doesn't work properly. You can see reports related to it. Another thing is that the attachment to store INR 100 notes is of small capacity. Also, new notes have different size specification. If they wanted to make such a move, they should have first got all the public banks ATM upgraded. We are yet to see the bad effect on the economy which will be seen soon.



i have heard 1 such story where doctors did not start treatment for a 500 rupee payment. not aware of many such incident though.

but, when people have 500/1000 cash in hand, why are not they depositing them to bank and gettiing the payment done with cheque / demand draft ??

bank may not have much cash to give people, but they are accepting all the money they can.

if hospital is only accepting cash, & not accepting card / cheque / DD, then some kaala dhanda is sure going on.

if people have 500/1000s and not submitting to bank, then may be there could be some kaala money as well.


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## sling-shot (Nov 13, 2016)

The rates have to be hiked to compensate for the rejected claims, extremely delayed payments such as one year or more.


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## Inceptionist (Nov 13, 2016)

*i.imgur.com/ZPY04ax.jpg

Source: Ground reality of demonetization.


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## icebags (Nov 13, 2016)

few people have died from shock few days ago, when they heard the news that 500 & 1000 notes will be banned. they did not hear those notes could be exchanged at bank for new notes.


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## Deleted member 118788 (Nov 13, 2016)

icebags said:


> i have heard 1 such story where doctors did not start treatment for a 500 rupee payment. not aware of many such incident though.
> 
> but, when people have 500/1000 cash in hand, why are not they depositing them to bank and gettiing the payment done with cheque / demand draft ??
> 
> ...



Did you even saw the queue at banks? There are many problems going on. How do you expect people to wait at banks in time of emergency? If they wanted to make such an action then they should have planned it properly. Union bank in our area used to have 4 counters open before regularly and now they only have 2 counters. This is we are talking about cities. The situation is much worse in rural areas. Read this. Why ATMS are Struggling Under The Pressures of Demonetisatio


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## icebags (Nov 13, 2016)

people are doing panic, thats why there is so much crowd. they are lining up at the bank even when they dont need the money at once.

there should not be any problem with cheque, if people have money in account already. they dont need to visit the bank even.

if they have 50,000/- cash at hand for hospital surgery & 10,000/- in bank account, then its just "wt ??" situation.

if they dont have bank account, and want to issue dd, and bank is not organizing it separately from the cash deposit line, then unfortunately, u will have to wake up very early for once in you life, and stand at the line at 3:00am, understanding the urgency of the medical treatment.

however, govt has already cleared, govt hospitals will still be accepting old currencies.

there will be problems, pm said the same himself. we will have to bear with it, and extend out helping hand to people understanding the situation.


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## bssunilreddy (Nov 13, 2016)

Let the circulation of money get stabilised. It takes time.

When you need some change, you have to undergo some difficulties.

We humans have the tendency to blame it on others.

When there was oppurtunity we make money, when it stops we cry.

Come on, let the banking system stabilise a bit.



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## bssunilreddy (Nov 13, 2016)

Change is constant one way or the other

Nobody can stop it
Thats for it

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## Inceptionist (Nov 13, 2016)

There are millions of Indians, mostly poor, daily wage workers who don't have bank account. What should they do? This was a Tughlaqui move. Mudi and his chamchas have lost all connection to reality.


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## icebags (Nov 14, 2016)

Inceptionist said:


> There are millions of Indians, mostly poor, daily wage workers who don't have bank account. What should they do? This was a Tughlaqui move. Mudi and his chamchas have lost all connection to reality.



govt has already gone through mass mission to register the people with their aadhar no. if someone has voter id  aadhar card, then there should not be any problem opening a zero balance saving bank account under jan dhan yojana, with a free rupay debit card.

[YOUTUBE]zKSzDX_oxKg[/YOUTUBE]

[YOUTUBE]6MuQk2-Nr_A[/YOUTUBE]

[YOUTUBE]6dLcaFeCiFk[/YOUTUBE]

pm modi had been blue printing this for long, he asked so many times to people, to get their bank account opened without any hassle. but people are too stubborn, they just dont want to go to bank. all they want, is, store their money under their bed.


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## tekiagadi (Nov 14, 2016)

In my opinion, Government Of India has taken a very good decision. The benefit of this will show in the Long-Run in a very very positive way to the Indian Economy as well as for the India Rupee.


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## Vyom (Nov 14, 2016)

I got the news of banning of 500 and 1000 notes two days before I had to leave my city to Dalhousie, as a weekend getaway with a group of friends. Let me share some points to get a feel of what's the ground reality and how did we managed with little cash.

> Already had our bus tickets booked through a bus portal (RedBus).
> Already had our rooms booked online.
> So online payments took care of travel and accommodation.
> We didn't have much Rs 100 notes. I was lucky enough that I followed a practice of making sure I get Rs 100 notes whenever I take out money from ATM, using amounts like Rs 1900, Rs 2400 etc. And just before the news broke about of banning notes, I had taken out some money.
> So we had 10 hundred notes, that we thought were not enough but didn't have a choice. Tickets were booked so we had to leave for the weekend.
> The night before I went to a local super market and purchased hoard of eatables (buscuits / chips / cold drinks) by using plastic money. Since we didn't want to spend cash in travel.
> The day we reached Dalhousie, I went to a bank there, to get some Rs 500 exchanged. Needless to say there was a LONG queue. Thankfully it was a queue for depositing money in bank account. Queue for exchanging money was ... well... longer.
> Luckily, queue in female line was short, and we had a female friend who we used to get Rs 4000 exchanged, but even in that short queue it took one hour, since as we found out, counter for male and female were common. So the banker was exchanging money alternating between one male and one female at a time.
> The banker's procedure of depositing money was slow. Counting Rs 100 notes slowly and two times. There was no note-counting machines. But I was relieved that the bank were exchanging money in Rs 100 and Rs 10 notes rather than new Rs 500 note denominations.
> After a couple of hours ordeal, we had Rs 4000 in cash and in Rs 100 notes to ourselves which we were limited to spend since local market were not accepting money in old Rs 500/1k notes.
> Thankfully some big shops did accept Rs 500 notes but they were an exception.
> Very few people accepted PayTM, more like 1 in 20 shops.
> During last day of stay, we found it difficult to find a restaurant to eat which accepted old notes or even card. When we did find one, it was very expensive but we had less choice since we had booked train ticket for return and couldn't afford to become late in finding a place which was cheap as well as accepted cash.

In the end of journey, we found ourselves spending more time/efforts in managing cash than enjoying the travel, and made ourselves shop less due to lack of cash. Also a point to note is that almost no one we met, criticized the move of banning notes, except some shopkeepers who didn't accept plastic money and didn't know/believe in online money portal like PayTM.

Bonus point: Atleast 3 times we encountered shopkeepers who asked for our views on this move by Modi, rather than cribbing and complaining about it like most of city people do. I love how accepting, helping and friendly 'pahari' people are.


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## lywyre (Nov 14, 2016)

This would be just step 1 to eradicate black money. Significantly more needs to be done to completely root out black money. The PM has already warned that there is going to be significant push against "be nominee" persons. I guess one of the steps would be compulsory linking of Aadhar/PAN to properties and investments.


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## Zangetsu (Nov 14, 2016)

The Black money people must have found the loop-holes also in this.

The day PM announced the Ban..Big Bazzaar texted millions of people about working till 12 A.M and accepting cash of 500 & 1000.
(lots of people visited and also with Black Money and bought unnecessary things that day)

Jewelers were all open after 12.

People bought expensive IRCTC tickets from counter (just to convert Black into White) by cancelling them later.


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## whitestar_999 (Nov 14, 2016)

Taxmen clamp down on jewellers, traders stop accepting old notes amid raid fears | Business Standard New

No Cash Refund for Booked Tickets between 9.11.2016 and 11.11.2016  - Railway Board Orders — CENTRAL GOVERNMENT EMPLOYEES NEW


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## DFC (Nov 14, 2016)

Safar mein dhoop toh hogi jo chal sako toh chalo...

Archie on Twitter: &quot;Safar mein dhoop toh hogi jo chal sako toh chalo...
He never promised that it would be easy and I will support my PM forever
#IAmWithModi *t.co/2sFokQVZuH&quot


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## funskar (Nov 15, 2016)

82% people are happy with the decision only people who don't have patience go grab a jio sim n stand for roadies auditions to get hit by raghu raha


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## Deleted member 118788 (Nov 15, 2016)

funskar said:


> 82% people are happy with the decision only people who don't have patience go grab a jio sim n stand for roadies auditions to get hit by raghu raha



Misleading title. Who cares about such surveys? 5 Lakh people of metro cities. Does they define the complete India? Does they define the Rural India?


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## whitestar_999 (Nov 15, 2016)

And does rural India defines what is good for India(conservative practices,gender discrimination,girl education,gotra/caste system etc). Remember majority is not always right. India is the only country in the world with such a large scale economy & still transact using much more amount of cash than other nations with similar economies. You talk about poor people suffering but they suffer everyday.Why don't they open bank accounts when PM has even launched Jan Dhan Yojna specifically for this purpose? Surely it won't involve more suffering than they are used to.

It is amusing to see people crying about hardships of poor people after this move when everyday 377 people die in road accidents in India.This is what the problem in India is. People become accustomed to a certain way then they insist on continuing with it even if it is not the most efficient or even right way. People in India just don't believe in their financial institutions & that is the only problem. Do you really believe that all those queues in front of banks & ATMs consist of people in emergency need of cash. Most of them are there because they simply don't believe RBI. These are the same people who would queue up in front of ICICI bank branches/ATMs in midnight in 2008 because of a rumor that ICICI  bank is going down & they would lose their deposit forcing RBI to release an official statement that all is well as ICICI branches were facing a cash shortage which is to be expected in such situations.

Almost anybody with a mobile & decent awareness(& I am not talking about formal education) knows about paytm & its wallet so why not use it wherever possible.How much cash people spend every day even in rural India?& if they are spending so much cash everyday then how come almost no body is paying income tax.Sure there are genuine people who requires cash everyday & they would have no problem getting it too if not for the majority of people who would withdraw cash even if not urgently required simply for the sake of having their own peace of mind.


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## sling-shot (Nov 15, 2016)

There is something about cash that none of the electronic means have. It is simple, easy to maintain, physically present. Not dependent on battery charge or internet availability. There is generally no third party getting a slice of it. There is no interoperability problem. 

I select mode of payment based on my comfort factors. Whatever happens, I never go out of my house without at least 1000 rupees in cash.


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## sggupta95 (Nov 15, 2016)

whitestar_999 said:


> It is amusing to see people crying about hardships of poor people after this move when everyday 377 people die in road accidents in India.


hey,you know road accidents are misfortunes and the deaths that are being "reported" are murders caused by this demonetisation,and not influenced at all by any other factors right?/s
at least that's what people will have you think.i have even heard some compare it to a "genocide".
but anyway,has anyone used or planning to use UPI?
it's a pretty cool feature of the government.
basically it's a service where you make an alias,and use that to transfer money.you can make payment to any other person irrespective of the bank and without knowing the account details,and it is totally free.there's an mpin required (i think,or something like that to make a transaction


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## Deleted member 118788 (Nov 15, 2016)

whitestar_999 said:


> And does rural India defines what is good for India(conservative practices,gender discrimination,girl education,gotra/caste system etc). Remember majority is not always right. India is the only country in the world with such a large scale economy & still transact using much more amount of cash than other nations with similar economies. You talk about poor people suffering but they suffer everyday.Why don't they open bank accounts when PM has even launched Jan Dhan Yojna specifically for this purpose? Surely it won't involve more suffering than they are used to.
> 
> It is amusing to see people crying about hardships of poor people after this move when everyday 377 people die in road accidents in India.This is what the problem in India is. People become accustomed to a certain way then they insist on continuing with it even if it is not the most efficient or even right way. People in India just don't believe in their financial institutions & that is the only problem. Do you really believe that all those queues in front of banks & ATMs consist of people in emergency need of cash. Most of them are there because they simply don't believe RBI. These are the same people who would queue up in front of ICICI bank branches/ATMs in midnight in 2008 because of a rumor that ICICI  bank is going down & they would lose their deposit forcing RBI to release an official statement that all is well as ICICI branches were facing a cash shortage which is to be expected in such situations.
> 
> Almost anybody with a mobile & decent awareness(& I am not talking about formal education) knows about paytm & its wallet so why not use it wherever possible.How much cash people spend every day even in rural India?& if they are spending so much cash everyday then how come almost no body is paying income tax.Sure there are genuine people who requires cash everyday & they would have no problem getting it too if not for the majority of people who would withdraw cash even if not urgently required simply for the sake of having their own peace of mind.



First of all, it was a completely ill-planned move taken in rush just for the sake of benefits in UP elections. If Mr. Modi was so against corruption then why no strict actions have been taken against Mining Mafia and BJP's Janardhana Reddy? He is spending 500 crores in his daughter's wedding? If they would have just arrested many ministers of political parties including Sharad Pawar, Gopinath Mundhe, Narendra Mehta, Corrupt officials of BCCI, etc then they would have collected more black money than it is present in the system. As per the raids made by IT dept this year, only 6% of black money is found in the form of cash. They are making everyone suffer for a few percent of cash. Every single rally of Mr. Modi have some wrong facts cited or information cited without any source which is very bad considering he is the PM of the country. How do you expects a trader to do business? Does bank grants every individual credits cards/debit cards with transactions capacity of 50K/1L in a single transaction? Have you ever seen how businesses take place in a whole sale market? How do you expect people with no technical knowledge to operate paytm, debit card or credit card? Don't simply compare India to developed nations where they were grew sawing how to operate credit cards. See TV channels which show ground reality and not TV channels like Zee TV who promotes BJP for their political/business benefits. See NDTV India and the ground reality they show by going into the actual places. Labourers of our country are not able to work as they need to stand all the time at banks and even if they are getting their wages paid by RTGS, they still need to go to the bank to withdraw. 

It was the responsibility our PM to ensure that ATMs were upgraded first to accommodate newer notes and handle such load. Majority of banks have their ATM outsourced and only reply they are giving to general public is that the ATM is outsourced and it is not our responsibility to maintain them. PM should had ensured that all new currency notes were printed first and equivalent replacement should have been available from Day 1. In the end, PM have failed the country.


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## Inceptionist (Nov 15, 2016)

whitestar_999 said:


> And does rural India defines what is good for India(conservative practices,gender discrimination,girl education,gotra/caste system etc). Remember majority is not always right. India is the only country in the world with such a large scale economy & still transact using much more amount of cash than other nations with similar economies. You talk about poor people suffering but they suffer everyday.Why don't they open bank accounts when PM has even launched Jan Dhan Yojna specifically for this purpose? Surely it won't involve more suffering than they are used to.
> 
> It is amusing to see people crying about hardships of poor people after this move when everyday 377 people die in road accidents in India.This is what the problem in India is. People become accustomed to a certain way then they insist on continuing with it even if it is not the most efficient or even right way. People in India just don't believe in their financial institutions & that is the only problem. Do you really believe that all those queues in front of banks & ATMs consist of people in emergency need of cash. Most of them are there because they simply don't believe RBI. These are the same people who would queue up in front of ICICI bank branches/ATMs in midnight in 2008 because of a rumor that ICICI  bank is going down & they would lose their deposit forcing RBI to release an official statement that all is well as ICICI branches were facing a cash shortage which is to be expected in such situations.
> 
> Almost anybody with a mobile & decent awareness(& I am not talking about formal education) knows about paytm & its wallet so why not use it wherever possible.How much cash people spend every day even in rural India?& if they are spending so much cash everyday then how come almost no body is paying income tax.Sure there are genuine people who requires cash everyday & they would have no problem getting it too if not for the majority of people who would withdraw cash even if not urgently required simply for the sake of having their own peace of mind.



WHAT THE F

Jesus Christ this comment is so full of sociopathy and elitism I don't know where to even begin.

Great mods we have here. No wonder this forum has gone down the drain.


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## icebags (Nov 15, 2016)

demonetization apparently brought peace in JK as well. militants are running out of money.

'Rate' For Stone-Pelting Was Rs 500, Note Ban Has Ended It, Says Manohar Parrika

what a master stroke !


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## Vyom (Nov 16, 2016)

Inceptionist said:


> Great mods we have here. No wonder this forum has gone down the drain.



I am happy mods here are not politically correct and believe everyone is free to express their views.
I welcome to put forth your own views and try to counter the opinion through arguments, rather than being personal.

In this regard, reply written by Geek-With-Lens is good.


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## Zangetsu (Nov 16, 2016)

Honest Self-Employed people are very less who actually pay Tax loyally.

Class doesn't matter here as Tax evasion is done by Middle class people also.


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## DFC (Nov 16, 2016)

[YOUTUBE]_Nrtk7XFoqw[/YOUTUBE]


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## maheshn (Nov 17, 2016)

Geek-With-Lens said:


> Did you even saw the queue at banks? There are many problems going on. How do you expect people to wait at banks in time of emergency? If they wanted to make such an action then they should have planned it properly. Union bank in our area used to have 4 counters open before regularly and now they only have 2 counters. This is we are talking about cities. The situation is much worse in rural areas. Read this. Why ATMS are Struggling Under The Pressures of Demonetisatio



I for one strongly disagree with the views mentioned...

I live in a Tier III city (not a metro or anywhere near one) and I haven't faced any difficulty in exchanging old currency for new, depositing old currency into banks or obtaining new from banks and ATMs. Let me tell you some personal experiences since 9/11.

-First day 10th - knew there would be crowds. Didn't go anywhere near the banks.
-Second day - visited 4 atms till a functioning one was found and minimal cash was obtained. Mind, I don't even own a two-wheeler despite being 40, married and employed(!). It was one bus ride and the rest walk around the town.
-Third day - deposited all the old notes in (1) The post Office and (2) bank having my salary a/c. Both were open. It was hassle free and took only an hour or so in each case.
-Sunday - 11th - went to the same bank, withdrew 10000/- for household expenses.

All it took was some small effort. 

(And before jumping on hospitals/sick people etc bandwagon, I'm also a recovering heart attack survivor undergone surgery 1 1/2 years ago.) 

Later, I've seen and stood in ATM queues several times to get change (the banks give only 2000/- notes whereas ALL active ATM's were giving 100s and 50s). In spite of the crowds, all the people were polite and well behaved, and there was no mob scenes or storming the banks.

This may be because I live in South India. I have no idea what it's like in the north and other areas.

Overall there is inconvenience, yes, but never to the extent made out by the "popular" media or the politicians. The only ones who really suffer are the people hoarding cash for a long period and now don't have sufficient time to remit in their bank accounts, or they don't have bank accounts in spite of the Jan Dhan initiative.

And also you might want to talk to a tax consultant to know the truth regarding deposit of large sums of money in your account... according to a CA I talked to the "200% fine" mentioned in the media (again) is meaningless as the govt can't change the current I-T structure without new legislation, so if current deposits are shown as current year income and advance tax paid the maximum the payer would be hit with is about 33%.

In short, do look around everywhere before forming opinions. Ground reality differs from state to state, and place to place within states. Try to see things with an open mind instead of anger., if at all possible.


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## Deleted member 118788 (Nov 17, 2016)

^ Thank you for sharing your experiences and views with us all. I have a few questions unanswered and if you could answer them then I'll find myself in peace. Here are my questions.

1. Mr. PM didn't announced that BJP will only accept donation via cheque or netbanking. Why?

2. Mr. PM didn't announced a raid at the houses of corrupt politicians. Why? Just for your information in case you're not aware one of their former minister is spending 500 crores on their daughter's wedding. 

3. Mr. PM didn't announced any strict action to recover Bad loans of Bank. Total amount of bad loans is mind boggling. Does that means he won't harm the big corporate houses? Why? Another question how does people like Vijay Mallya slips out of their hand. Even when a person blunders on a small loan and the case goes in court then even their passports are seized. Did he got special treatment as he is a BJP member and their unofficial funder?

4. Mr. PM didn't posted any figures they spent on their election campaign. Why? 

You know he is no different. He is a corrupted politician at the end of the day and will stay the same. If he was different then he would have done something different. This happens when you make a marketing guy the pm of the country. They make big fake promises [Make in India, Digital India, etc]..... and rally around the world to promote Digital India. Idiots don't understand that they first need to upgrade the minimum internet connection in our country before rallying around the world. My words are harsh and may not be liked by many of you but look inside you and see the reality.


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## whitestar_999 (Nov 17, 2016)

Inceptionist said:


> WHAT THE F
> 
> Jesus Christ this comment is so full of sociopathy and elitism I don't know where to even begin.
> 
> Great mods we have here. No wonder this forum has gone down the drain.


For someone with a user name clearly inspired by a movie that many consider as quite an innovative movie which really requires a wide & open mind to understand & enjoy it, you really seem to display quite a narrow minded view.

*First of all that is my personal opinion as an individual which is separate from what my role as an moderator is here(which is to make sure forum rules are followed). Linking both of them together & then blaming me for completely different matter is what comes across as a statement from an elitist who thinks only he has the right authority & answer to the issue at hand.You are right though in at least one thing, it is indeed not possible for you or anyone with the same reasoning path to even begin because that would require a logical & understanding viewpoint of the issue which is absent here.*

P.S.I can also guess the meaning behind your usage of the word "sociopath" but I will not discuss it because that would be a violation of forum rules which neither a member & especially not a moderator should be doing.



Geek-With-Lens said:


> First of all, it was a completely ill-planned move taken in rush just for the sake of benefits in UP elections. If Mr. Modi was so against corruption then why no strict actions have been taken against Mining Mafia and BJP's Janardhana Reddy? He is spending 500 crores in his daughter's wedding? If they would have just arrested many ministers of political parties including Sharad Pawar, Gopinath Mundhe, Narendra Mehta, Corrupt officials of BCCI, etc then they would have collected more black money than it is present in the system. As per the raids made by IT dept this year, only 6% of black money is found in the form of cash. They are making everyone suffer for a few percent of cash. Every single rally of Mr. Modi have some wrong facts cited or information cited without any source which is very bad considering he is the PM of the country. How do you expects a trader to do business? Does bank grants every individual credits cards/debit cards with transactions capacity of 50K/1L in a single transaction? Have you ever seen how businesses take place in a whole sale market? How do you expect people with no technical knowledge to operate paytm, debit card or credit card? Don't simply compare India to developed nations where they were grew sawing how to operate credit cards. See TV channels which show ground reality and not TV channels like Zee TV who promotes BJP for their political/business benefits. See NDTV India and the ground reality they show by going into the actual places. Labourers of our country are not able to work as they need to stand all the time at banks and even if they are getting their wages paid by RTGS, they still need to go to the bank to withdraw.
> 
> It was the responsibility our PM to ensure that ATMs were upgraded first to accommodate newer notes and handle such load. Majority of banks have their ATM outsourced and only reply they are giving to general public is that the ATM is outsourced and it is not our responsibility to maintain them. PM should had ensured that all new currency notes were printed first and equivalent replacement should have been available from Day 1. In the end, PM have failed the country.



1.It may be or may not be for the sake of benefits in UP elections but that does not make it an absolutely wrong decision.In any case all of you are welcome to open a thread here discussing UP election results with regard to this move.

2.*Mr.Modi is PM of India not dictator of India.*To arrest somebody who have the resources to hire lawyers like Fali S Nariman,Ram Jethmalani,Harish salve etc you really have no idea how Indian law system works.There is a reason these lawyers charges more for an hour than many make in a year.Just because you know somebody is corrupt is not enough unless that can be proved in a court of law all the way to Supreme Court in India which as you might have guessed by now is very rare.

3.I know that wholesale markets rely heavily on cash but I also know that many times not all of that cash is accounted in white money economy.It may not be as much as some big scam but it is there.As for labourers not able to work I agree it is true but no big change comes without its own share of problem.I wonder if PM has announced this step months in advance, which would have reduce its impact to almost nil on common people as well as black money hoarders, then how many people would have said that this move was just a theatrics(which they are saying presently anyway).

5.I don't watch TV news channels.I only read 2 newspapers out of which one is quite anti-Modi.Unlike some others I prefer to read both sides before forming an opinion.

4.Again you have no idea how bureaucracy works.It is not possible to implement such a move with intended results unless very few people are kept in loop.It was never possible to implement this move with such sudden impact if govt was going to instruct RBI which in turn need to instruct banks to upgrade their ATMs which in turn need to contract it out to their ATM service providers.

*There is a proverb saying missing forest for the trees & all those who are saying this will not help in curbing black money are missing the whole picture.Even Modi knew this move was not going to curb or even bring back quite an amount of black money.Surely a person who became the the first non-congress PM after winning with a clear majority in decades in India would have done his homework before trying such a bold & risky move.*Have you not seen the reports of electronic transactions jumping many folds or the increase in cash deposits of banks by quite a large %? Even small traders in tier 2 & tier 3 cities are placing orders for swiping machines.This move is not just intended for black money but also for moving India away from cash based economy as much as possible & to bring even large amount of white money in cash form into formal banking system.*There will undoubtedly be some negative impacts but in the long run,say 5-10 years down the road,this move may be counted as the first major move for moving India away from old cash based economy to the much more efficient & transparent E-economy.*

- - - Updated - - -



Geek-With-Lens said:


> ^ Thank you for sharing your experiences and views with us all. I have a few questions unanswered and if you could answer them then I'll find myself in peace. Here are my questions.
> 
> 1. Mr. PM didn't announced that BJP will only accept donation via cheque or netbanking. Why?
> 
> ...



1.Because this is not satyug & Modi is not Harishchandra.On a more serious note this is because in India unless every party starts accepting all donations by chq/dd etc, any party which adopt this will be doing a political suicide.

2.Already answered in my earlier post.Also just to add 500Cr is a huge sum for many but there are people who earn more than this in a year quite comfortably.Point is that no body is answerable for spending money no matter how large the amount is as long as it can not be proved in a court of law as illegally acquired money.

3.Again you have no idea how banking system works.Do you even know that there is a concept of restructuring/nursing of NPAs in banks & just because some amount is bad loan today does not mean it can not turn to good load or even partially good loan some times later(usually a year or two at least)?Recovering bad loans from big corporate houses is not as simple as you might think.That is why to stop giving bad loans in the first place is the best option & that is why it is a good idea to bring down govt stake in all PSBs to 49% but then all leftists & unions will oppose it tooth & nail because that would mean working like pvt sector which we all know is very bad(after all majority of bad loans are on account of public sector banks so that means pvt sector banks are not doing the country a good service if they are not giving bad loans). Vijay Mallaya got all his loans when BJP was out of power so you should thank congress for making Mallaya the funding man of BJP. As for getting out of country businessmen always keep some connections(both govt as well as legal) ready to escape in a hurry.His escape might be govt's fault but at least they submitted official request for his extradition to UK unlike others where even that might have taken years.

4.See point 1.

You are free to consider Modi as corrupt but based on facts alone I say he is less corrupt that former PM Manmohan Singh who I also believe didn't took a single rupee as bribe but by his inaction allowed scams to happen which in my opinion is also a form of corruption.

P.S.Here is a trick question for all of you here.How many of you think I support Modi or for that matter BJP?If I get good enough responses I might surprise you.


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## sling-shot (Nov 18, 2016)

Excellent point there about the 500 Cr wedding. Why do we assume that somebody spending money is always of illgotten nature? Why does anybody earn money if not to spend, donate or bequeath ultimately.

The amount would differ according to the status of the individual. What would be a second's earning of Ambani is probably only what I would earn in my lifetime. That doesn't automatically make Ambani a fraud and me the ultimate truthful.


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## gadgetssai (Nov 18, 2016)

in my opinion 2000 rupee notes is not the right solution for this corruption and blackmoney issues... 
recently i watch a show which mainly focus on 22 business persons who take loan from banks more than 2000 crores and that bank withdraw their loan 
in our case if one farmer takes a loan of 1lakh is that bank withdraw of his loan not right,... so, this is the not right solution for black money


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## whitestar_999 (Nov 18, 2016)

realman said:


> I like your optimism. that's it.
> 
> Now this is for everyone
> I wonder what this pm is trying to cover behind all this gimmick. Generally these type of things are done by politicians to cover their mistakes & divert the peoples attention to somewhere else. Is he trying to make reliance more rich by supplying more black money? Is he trying to hide that reliance is the real pm of india?
> Is he trying to make his party stronger by eliminating black monies from other parties? Is he trying to cover his _videsh yatra/foreign tour _ expenses? what?



1.Reliance is publicly listed company on stock exchange which means it is nearly impossible to "make it rich" secretly.*I still don't get the people's obsession with reliance,it is not even that big if compared to India's total economy or or other major companies around the world(Apple's yearly revenue is 50 times of Reliance's).In fact it is laughable to assume that Reliance,or for that matter any Indian company,can dictate its terms to politicians in India which goes against people's sentiments at large*.

2.If black money is eliminated as fund source for other parties,isn't that a good thing.As for his foreign travel expenses, again why this obsession with his travels.It is not like he is partying there.Even half an hour talk with president/PM of a small country is worth more than the expenses incurred on the travel,any seasoned diplomat would tell you that.


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## kg11sgbg (Nov 18, 2016)

One thing for sure.
Everybody has his/her own way of freedom of speech and expression,but based on sound facts and logic.Yes as a member of this forum,you could well argue or put your opinion against a moderator,because mods are not Gods.
Still as responsible and sound knowledge + logic based minds of the @TDF  mods,one should not oppose just for the sake of opposing one's ideas or views.Even comments represented by mods have mistakes or unknown info to them.But when most of them argue or try to hold up a point,there's a lot of background study and thoughts of rationality present.
Our Friend , [MENTION=126812]whitestar_999[/MENTION] has clearly and subjectively clarified all the points with deep understanding for not only to himself,but also to all of us the forum members. Never in his explanation he justified or forcibly insisted to support Mr. Modi our H'nble PM.That is the prerogative of one's own PERSONAL freedom and choice.
So,before jumping to insane comments and conclusions, with a label of accusation accompanied by illogical ,ill studied facts,its time for proper reminiscing one's own knowledge or be a knowledgeable spectator/observer to absorb the views of everybody.


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## ithehappy (Nov 18, 2016)

I love this decision. Had spent around 2 hours in last three days to withdraw my own money, but just to see cash going out at last moment. After working hard for like 10 hours this is what I really want to do.

Actually some people need to stay true to their actual profession, like selling tea or cleaning toilets in trains. And in the meantime those who have illegal money are actually not going to laughing clubs any more.


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## Deleted member 118788 (Nov 20, 2016)

[MENTION=126812]whitestar_999[/MENTION]: I will surely come back to you with my counter questions to your answers. 

From the reports, I'm getting it is evident that most people with black money [cash] were able to adjust them successfully. People will lose some percentage of black money but that won't be returned to the system and also won't affect the net worth of any black money hoarders.

But there is one major consequence/issue which I bet Government didn't planned carefully for. *Job Cuts and Low direct tax receivables.* In a week, 2 Lakh Gold workers have been fired from their job out of the total 12 Lakh gold workers who work in Mumbai. Most of them have went back to their village and most of these workers are from Kolkata and Rajasthan. Issue is that these guys are paid daily wages and if this situation prolongs they will suffer terribly. These guys don't having savings or low savings. If they stays without work for even 3 months then you can't just imagine what will happen to their livelihood. Another major thing is that all luxury segments and consumer business segments have been badly affected. Car sales have stopped. Just think how much low income they are going to report in this quarter and the coming quarter. Low income will result in low payment of taxes to the government by these companies. That amount will likely be more than they will recover from this scheme. FIIs selling in the equities market is going at a rapid pace due to uncertainties of our Economy. You can get the figures from BSE/NSE website. At personal level, I feel this move is going to affect our economy badly and may put us 1-2 year back. People thinking that this move will curb all fake currencies should just wait a little as it don't take long in today's technology efficient world to print new fake currencies. Fake currency is a big business for Pakistan and they won't just sit. In the end, poor will suffer and that you can already see that.


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## kg11sgbg (Nov 20, 2016)

^*Your facts and ideas are supportive and laudable,by going in through the points.
But Friend,do we really care about the downtrodden in this very selfish world?What am I doing or what are you  doing for the respite of the hapless and hopeless people even if that's a little bit of help in any way???
In the present scenario,we suffer variably as according to positions and echelons in this society, as per our income status,wealth,background,livelihood and knowledge.And at the end of the day,we take a cup of Tea/Coffee/Beverage or smoke with our cigars,storming with ideas/opinion/likes/dislikes/support/faith/disbelief/against ,the government,bureaucracy,politicians,police,in a whole way the SYSTEM.That too within a comfort zone,be it in Home or Office or Club or Hostel,wherever we dwell.
But are we doing a bit for the lone Farmer in one remote corner village in India,or are we going to look at the daily activities of the daily-waged based worker,those of whom are facing more hardships in this demonetarisation process than us?

Remember, most of us suffered and witnessed 2 years back regarding the fiasco on LPG+KYC link up with Banks+ Subsidy limitations. I VERY WELL KNOW THAT ALL PEOPLE WERE NOT AFFECTED,BUT STILL A SUBSTANTIAL PART OF POPULACE HAD TO BEAR WITH THE HARDSHIPS.
 What is the present scenario???
Even majority of people left out of this LPG subsidy and availability are bought within the ambit of the system. Due to uber rich or also middle class people those of whom abused the LPG subsidy system previously,had to surrender(most of them may not be all) and that has made the deprived populace(those who could bear the price)available for a LPG cylinder at most.Mainly in Rural India.
 Nowadays regarding LPG system,it is nearly fully accountable and full proof system,baring some glitches,WHICH USED TO BE MAJOR ISSUES BEFORE THE SYSTEM CAME INTO PRACTICE.

So,Bro why not have hope with the demonetarisation scheme that has been implemented?

You have every right to argue or oppose your views regarding the functioning of the present Govt.,but taking an argument into a personal level with a mindset of challenge and behaving as a pseudo secular,pseudo pro-poor, tantamounts  to an act of misrepresentation and misjudgement along  with an extremely one sided prejudiced/biased based thoughts on events and facts.

p.s. Don't take it personal.
*


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## ithehappy (Nov 21, 2016)

I just have one question. Them people who have illegal/black money, how will this decision affect them in any way? I mean do they keep cash of 500 and 1000 rupee notes? I never did get this at first place!


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## Nerevarine (Nov 21, 2016)

ithehappy said:


> I just have one question. Them people who have illegal/black money, how will this decision affect them in any way? I mean do they keep cash of 500 and 1000 rupee notes? I never did get this at first place!



those people that hide money on their own, do not reveal it to the income tax department.
Therefore, they do not pay tax on their assets.


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## Zangetsu (Nov 21, 2016)

ithehappy said:


> I just have one question. Them people who have illegal/black money, how will this decision affect them in any way? I mean *do they keep cash of 500 and 1000 rupee notes*? I never did get this at first place!



Have u seen Shivaji, Special 26 or other similar movies ?


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## kg11sgbg (Nov 21, 2016)

realman said:


> Yes that's a very good thing so that no other parties will have any black money except for BJP & they will continue with their monopoly & stupid propaganda to make modi a god. Youtube is filled with such crap.
> 
> Apple is from USA & india is not even near to that country thus comparisons should be fair. I think BJP (powered by reliance) took this step mainly to recover the money they had spent for advertising the pm & his party.
> 
> ...


Pity!!!!!
On!!!!
You!!
As if before this govt. came to power,EVERY THING  was smooth like  butter for ALL OF US in India.

YOU ARE A BIASED KID!!!


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## Zangetsu (Nov 21, 2016)

how black money hoarders attempted to circumvent note ban- Navbharattimes Photogaller


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## dashing.sujay (Nov 21, 2016)

realman said:


> I think BJP (powered by reliance) took this step mainly to recover the money they had spent for advertising the pm & his party.



I know a person who has so much money and power that he was offered lok sabha ticket from BJP in last election (when modi won). But he didn't want to go to politics. Anyway, when the decision came, he had 3 crore cash with him (which I came to know, the real amount can be much more). All his cash went chhoo mantar.

See, it is very obvious that a couple of person in the whole decision making must have leaked the info to his known or saved their own ass. But you can't blame the whole govt for a handful of corrupt people. Miniature scale corruption will exist there irrespective of whatever you do. There is no ideal world.


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## kg11sgbg (Nov 21, 2016)

And thinking of living in an ideal/utopian world is as same as living in "FOOL'S PARADISE"...especially when we exist and deal with a SYSTEM as ours.
True enough SYSTEM in India has glitches/issues,but is changing for the betterment for sure.A long road to tread still.
Previously it was just stuck or sluggish or chalte hai attitude.


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## lywyre (Nov 22, 2016)

I am still contemplating whether this is a good, bad or sinister move. 
I don't know if the BJP party's high people got a head start.
I know it has become very difficult and intolerable for a lot of people all over India.

I now realise that we still have awfully less number of banks to cater the public.

Some Pointers :
* Money is indeed coming out atleast as commissions. In the process, maybe about 20% of the black money may get into circulation. Most of the remaining 80% will be reconverted to higher denomination again and the rest will be left to decay/burn.

* Violence in J&K has almost stopped since Nov 8. Even a stone that is pelted would need a Rs. 500/- note, but now that it is invalid peace has got a chance.
* I am not sure if this is a result of demonetisation: Public examination attendance in the value has topped 90%

* Maoists in Central India and the Deccan are largely hampered as their stockpile is now just garbage. They may try to change by forcing locals, but that would make them lose very little support that they have.

* Bogus Financial firms and money lenders who lend for high interest will certainly be caught off guard.

* Though a hardship, this has forced lot of people to go digital (net banking/ mobile banking). These were people who did not go digital not because to avoid taxes, but because they were lazy or were not comfortable with technology.

* Hopefully, this will increase cash flow through taxes by a good margin.

These are all my opinions and I may be wrong. I am right now having 2 hundred rupee notes in hand for expenses. Don't know how long it will last. But I am surviving because I know how to use digital money. Not all people have the understanding of the tech or even the capacity to understand the same. I have enough in my account to pay digitally till my next salary (trying hard not to use credit card). 

I still have a large sum in old denomination to be deposited to my account and waiting for the queues to shorten. I can wait and don't want to stand in the way of others who are in immediate need. Hopefully in a weeks time, I can deposit in time before my next EMI (pre-closing my running personal loan).

I feel there is one small, but significant step that could have taken by the government, which would have made life a lot easier. That would be ensuring that there is enough Rs. 100 notes available beforehand atleast with the RBI.

In the meantime, please visit the ATM/Bank only if you have the need for. You and I know how to live with digital money. But a lot of people live their life only with hard currency. Let people who live by cash spend less time at the banks. This would also lessen the burden of the bank employees.


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## kg11sgbg (Nov 22, 2016)

^Your opinion based on valid facts and info shows,that you are a logical,sound knowledge based person.
Whatever points you've given are reasonable enough to be true.


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## icebags (Nov 22, 2016)

^


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## lywyre (Nov 23, 2016)

About people who live by cash:

1) Tea shops/ tiny hotels/ petty shops/ mobile snack shops (pani puri etc)
2) Auto /rickshaw drivers
3) Local vendors (vegetables/ general provisions)
4) Iron/ bottled water/ delivery persons (couriers/paper)
5) Watchmen/ house maids/ other domestic servants (house keeping/plumbing/electricians etc)
6) Cab drivers not dependent on mobile apps (ola/uber/fast track etc)
7) Office attendants/ low level employees in all organisations (govt/private)

All these people are caught in the cross fire. 

I guess the weapon of choice is wrong. Like a shot-gun where a sniper is needed. Like a carpet bomb where a laser guided missle is needed.
Spray wide and hope to hit the target by luck. 

Or may be the decision was hastened and announced in a hurry well before they actually planned for. 

I again request people to keep away from ATMs and banks unless necessary.


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## bssunilreddy (Nov 23, 2016)

Modi Govt is going to introduce Electronic Property PassBook(EPPB)
 where it comes into effect from March,2017.

According to it only 8% of black money is in actual circulation or hidden in private vaults in India.
The remaining 92% is either in Real Estate or Gold ornaments.

Solution: By implementing EPPB, where everybody who has any property/ties has to register/enroll their properties from March,2017 to March,2018.

Within this year, if anybody does not enroll their property in the EPPB, after which anybody's unrenrolled property deems to become Govt of India property.

Likewise, all gold assets needs to be registered which will be implemented by enforcing another rule/act later in 2017.

After Jan,2017 the withdrawal limit for anybody is only 1lakh until the govt thinks it is necessary to withdraw such a limit.

But any amount can be deposited.

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## Zangetsu (Nov 23, 2016)

^^Please don't post SPAM news here which is being forwarded in Whatsapp groups.

(SPAM) E-Property Pass Book (EPPB) - Check4Spa


_There are no authentic reports from Government or authorities or main stream media evidence about the so called EPPB. As soon as we have a main stream report which denounces this post we shall add a reference here. This for sure is a hoax message_


demonetisation: Engineer with 'black money' stash: Bribes not taboo - Times of Indi


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## topgear (Nov 26, 2016)

bssunilreddy said:


> Modi Govt is going to introduce Electronic Property PassBook(EPPB)
> where it comes into effect from March,2017.
> 
> According to it only 8% of black money is in actual circulation or hidden in private vaults in India.
> ...



Sounds reasonable to me. But there's only one BiG problem ... do people everywhere are educated enough. There are still areas where using a cell phone is a fantasy and getting job daily is another one. Hope govt. will reach out to such people with it's helping hand to educate them enough about technology.

BTW, you forgot to mention the source of your news


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## bssunilreddy (Nov 26, 2016)

topgear said:


> Sounds reasonable to me. But there's only one BiG problem ... do people everywhere are educated enough. There are still areas where using a cell phone is a fantasy and getting job daily is another one. Hope govt. will reach out to such people with it's helping hand to educate them enough about technology.
> 
> BTW, you forgot to mention the source of your news


Source of the news is my wifey.

Sent from my ASUS_T00K using Tapatalk


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## Zangetsu (Nov 28, 2016)

Can't trust the Bank Managers now  
demonetisation: I-T cell finds Rs 40 crore deposit in banned notes at Delhi bank - Times of Indi


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## icebags (Nov 28, 2016)

apparently some people also trying to take bribes in their online wallets also.


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## Zangetsu (Dec 1, 2016)

it dept raid: New notes worth Rs 4.7 crore seized in I-T raids in Bengaluru - Times of Indi


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## Zangetsu (Dec 9, 2016)

Go Cashless:

Dial *99# to send and receive money upto 5000.

State Bank FreedoM - FAQ - NUU


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## jackal_79 (Dec 9, 2016)

Cashless India: Buying petrol, insurance with cards to be cheaper Cashless India: Buying petrol, insurance with cards to be cheaper | Business Standard New

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## theterminator (Dec 10, 2016)

Zangetsu said:


> Go Cashless:
> 
> Dial *99# to send and receive money upto 5000.
> 
> State Bank FreedoM - FAQ - NUU



This facility is called Mobile Banking & is available universally in every bank because its a common platform known as NUUP. Main feature is it can be used on basic mobiles. It is very useful in Rural areas where majority have such phones. 


Sent from my iPhone using Tapatalk


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## Zangetsu (Dec 13, 2016)

4 bank officials helped Karnataka's casino owner who hid Rs 5.7 crore in secret bathroom safe, says CBI FIR - Times of Indi


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## Nerevarine (Dec 14, 2016)

So cringe


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## Zangetsu (Dec 15, 2016)

Amitabh Kant: NITI Aayog announces daily, weekly, and mega-awards on digital transactions to promote cashless payment


600 Crores Of Black Money, Kilos Of Gold Seized Since Demonetisation, WTF Is Going On In Karnataka! - Indiatimes.co


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## lywyre (Dec 16, 2016)

Anybody have any idea how to report suspicious activities in a bank?


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## Zangetsu (Dec 16, 2016)

lywyre said:


> Anybody have any idea how to report suspicious activities in a bank?



Call to Income Tax department complain cell number


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## bssunilreddy (Dec 16, 2016)

lywyre said:


> Anybody have any idea how to report suspicious activities in a bank?


Actually you can report to banking ombudsman.

If any irregularities are found, action will be taken against a faulty bank.

Sent from my ASUS_T00K using Tapatalk


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## billubakra (Dec 26, 2016)

lywyre said:


> Anybody have any idea how to report suspicious activities in a bank?



Send a mail to the ombudsman of that specific bank+to the rbi ombudsman in your state.


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## lywyre (Dec 27, 2016)

bssunilreddy said:


> Actually you can report to banking ombudsman.
> 
> If any irregularities are found, action will be taken against a faulty bank.
> 
> Sent from my ASUS_T00K using Tapatalk





billubakra said:


> Send a mail to the ombudsman of that specific bank+to the rbi ombudsman in your state.



I did not have to do anything. The activites stopped since the (TN) Chief Secretary's homes and office were raided. I am not sure if there is any connection though.


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## icebags (Dec 27, 2016)

Tax-wary doctors hike fee


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## billubakra (Dec 28, 2016)

icebags said:


> Tax-wary doctors hike fee



Acche din aa gaye. "Bhaiyo aur Behno notbandi se kala dhan rukega aur cheeze bhi sasti hogi"


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## Deleted member 118788 (Dec 28, 2016)

Indian Government is happy to spend money in irrelevant ways. The new advertisement about saving electricity [Bijli Bachao] has wasted a lot of public money. What was the need of it? Electricity isn't free. People in India do not waste electricity as they know they have to pay for it.


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## bssunilreddy (Dec 28, 2016)

Geek-With-Lens said:


> Indian Government is happy to spend money in irrelevant ways. The new advertisement about saving electricity [Bijli Bachao] has wasted a lot of public money. What was the need of it? Electricity isn't free. People in India do not waste electricity as they know they have to pay for it.


Electricity is not free but what has the Kongress led UPA did in its tenure.

Kongress bend itself to whims of all its partners.

Thousands of crores were lost.

We all voted for a change and let us give some time for those who are in ND to initiate all necessary measures.

Change does not happen in 1 year. 

Guys we need to be patient, not cry like hell when a small difficulty arises out of demonetisation or such measures.

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## icebags (Dec 28, 2016)

its better not to expect from these politics babus, they only know politics, know how to shout big things, and lack basic knowledge of how to run things. they think their each individuals are heroes and can run everything without following any system. 

modi's intention was good, but he absolutely failed to run a proper execution plan. atal govt and manmohan govt were much better than this.

modi -mamata are all the same, they think they are beyond any system and alone can run everything !


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## whitestar_999 (Dec 28, 2016)

Geek-With-Lens said:


> Indian Government is happy to spend money in irrelevant ways. The new advertisement about saving electricity [Bijli Bachao] has wasted a lot of public money. What was the need of it? Electricity isn't free. People in India do not waste electricity as they know they have to pay for it.


A significant number of people in India do waste electricity that too without even paying anything.Maybe the ad is meant for them.

FJP-IMC Forum on power tariffs | Free Press Journa
Power theft in india - Prashant karhad
Power Losses are three times Power Deficit in the Countr


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## Deleted member 118788 (Dec 29, 2016)

Performance of BJP government is nowhere close to UPA government. Modi govt yet to match UPA's economic record | Business Standard New

As much as I hate Congress government for their corruption, we can't ignore the fact that Economic Stability is far more important than some major economic disruptions. We should also not forget the UPA government performance is better during 2008 global crisis. Modi government got the best of their luck [Proper Majority, Low Crude Prices & Strong Support from the people]. Yet, they haven't performed as they should have. This government is spending a lot on advertisements, campaigns/rallies, show-off moves, take high debts [Bullet train, etc]. When we asked for an active speaker as our PM, we really didn't asked for an over active speaker like Modi. Only thing I ask from this government is to provide us with economic stability.


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## maheshn (Dec 29, 2016)

I know this sounds like a personal rant and maybe it is, but other than the first 1-2 weeks after Nov 8, there has been no shortage of money OR change where I live. Yes, business has been dull.... for fancy stores, gift shops, people on the street selling knick-knacks and bric-a-brac., or *anybody* selling nonessential items. 

There has been no shortage of food/vegetables/milk / anything essential in the main market in the city, or the place where I live (about 3km from the city centre). There are no riots or protests, and the local public transport - buses, autorickshaws & taxis are all plying as usual. The taxis have slightly less passengers than usual, but that's all. They are still making a living.

Actually, share some information about the "economic stability" mentioned please. I don't see any economic instability directly or in the neighbourhood in my city. Has your salary/remuneration been stopped because of the government's measures? Have your parents been denied their pension? In short, has there been any instability affecting your daily life? Other than the blatantly anti goverment and anti-Indian displays shown in the 'mainstream media'?


(The congress *looted* the country for 60+ years, now someone else is in charge and the old order & babudom doesn't like it. A lot of the FUD is being sown by them only)


_On another note, maybe this thread should be moved to the fight club?_


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## whitestar_999 (Dec 30, 2016)

I guess this is what they meant by "Statistics are like bikinis. What they reveal is suggestive, but what they conceal is vital.".

The Dialogue | Inform. Engage. Ideate.
NDA vs UPA: Assessing the efficiency &amp; quality of governance - Times of Indi
Evaluating Narendra Modi’s two years of governance | The Indian Expres


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## Zangetsu (Dec 30, 2016)

BHIM (Bharat Interface for Money) app for cashless payments launched by Prime Minister Narendra Modi &ndash; Tech


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## bssunilreddy (Dec 31, 2016)

Just hearing Mr.Modi ji speech on de-monetisation and after effects...
Its advantages & upcoming schemes...

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## bssunilreddy (Dec 31, 2016)

The basis for Indian Civilization is Harappa & Mohenjadaro right???

*uploads.tapatalk-cdn.com/20161231/63a69634e0947dc91277af59c4520279.jpg

Whom does the above Priest King resemble guys???

*uploads.tapatalk-cdn.com/20161231/5433cf85b1a6aa49f8022894eba4b1c6.jpg

What a Coincidence!
Tell me what do you say???
Is it foretold that Indians will rise again under his leadership???
Or
Any opinions???

Tell me...

PS: The above Priest King seal is one of the few seals unearthed until now...

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## kg11sgbg (Jan 1, 2017)

^ Would you care to elaborate + explain your point of analogy,Sunil?
It would be much helpful for us.


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## Deleted member 118788 (Jan 1, 2017)

[MENTION=105611]bssunilreddy[/MENTION]: WTF


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## Nerevarine (Jan 1, 2017)

Mera naam badnaam mat karo pls, sunil bhai


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## snap (Jan 1, 2017)

Top kek


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## sygeek (Jan 1, 2017)

bssunilreddy said:


> The basis for Indian Civilization is Harappa & Mohenjadaro right???
> 
> *uploads.tapatalk-cdn.com/20161231/63a69634e0947dc91277af59c4520279.jpg
> 
> ...



I can't even..This has to be a troll.


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## baccilus (Jan 4, 2017)

It won't be easy climbing out of Congress's misdeeds. The government has been investing heavily and effectively in avenues which show results after a latent period. The building of roads and increased power production is no fluke. Developed infrastructure stays with the Country for ever. Simply being a good orator doesn't make our PM a bad administrator (many people think that a good speaker never delivers and is a feku on account of being a good speaker). Rather than basing our opinions on just an article which a biased person has written, hence showing things in the worst possible light, we must analyze a little deeper. Government and the PM's most important job is to remove hurdles in the path of our Country's progress with the tools at their disposal. These hurdles include shortage of power, bad roads which make logistics a limitation for growth of many business, and corruption. These are the ones that are coming to my mind. The government is currently working at all the fronts to remove these hurdles.
Government has a majority in Lok Sabha but they don't have majority in the Rajya Sabha. The Congress is ready to block everything that is good for the Country just to make the present government look bad.


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## Zangetsu (Jan 4, 2017)

Modi's government will create History in India


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## kg11sgbg (Jan 4, 2017)

Zangetsu said:


> Modi's government will create History in India



In the +ve or -ve direction????????????????????

I AM HOPEFUL ABOUT THIS GOVERNMENT AND MR. NARENDRABHAI DAMODARDAS MODI.

Long Live Modi-ji and his Govt.

I Honour our True P.M. of India.


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## theterminator (Jan 8, 2017)

Yes , modi govt will create history. Modi is obsessed with bankers of the country.  It's like his govt departments have no work that he routes everything through bank. He has tortured the already overburdened bankers of this country & shows no signs of letting them off.  Now in every speech he mentions them.


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## Naveen.S (Jan 8, 2017)

theterminator said:


> Yes , modi govt will create history. Modi is obsessed with bankers of the country.  It's like his govt departments have no work that he routes everything through bank. He has tortured the already overburdened bankers of this country & shows no signs of letting them off.  Now in every speech he mentions them.
> 
> 
> Sent from my iPhone using Tapatalk


Thats because he is trying to keep track of Cash flow. A few of my friends are working in banks and believe it or not, they are happy with this move. One friend, working as Cashier in State Bank of Patiala, used to hate is his job. He is more than happy these days. Cashless, digital payments are going to make things easier for everyone.


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## kg11sgbg (Jan 8, 2017)

Naveen.S said:


> Thats because he is trying to keep track of Cash flow. A few of my friends are working in banks and believe it or not, they are happy with this move. One friend, working as Cashier in State Bank of Patiala, used to hate is his job. He is more than happy these days. Cashless, digital payments are going to make things easier for everyone.


Ground reality.


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## theterminator (Jan 8, 2017)

Naveen.S said:


> Thats because he is trying to keep track of Cash flow. A few of my friends are working in banks and believe it or not, they are happy with this move. One friend, working as Cashier in State Bank of Patiala, used to hate is his job. He is more than happy these days. Cashless, digital payments are going to make things easier for everyone.



Cashless economy doesn't mean no work for bankers. Management will find new ways to make them busy such as marketing/field work. The burden that they faced was huge & continue to pay. Now a branch manager spends his whole day answering to worthless queries of MUDRA loans. Generally the queries are of defaulters who want to take loan to repay other debts. 


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## icebags (Jan 9, 2017)

Naveen.S said:


> Thats because he is trying to keep track of Cash flow. A few of my friends are working in banks and believe it or not, they are happy with this move. One friend, working as Cashier in State Bank of Patiala, used to hate is his job. He is more than happy these days. Cashless, digital payments are going to make things easier for everyone.



he may as well receive a termination letter, if counting cash does become not a requirement.


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## topgear (Feb 22, 2017)

Rs 1,000 note to be back in new avatar, but not clear when | The Indian Expres


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## whitestar_999 (Mar 12, 2017)

So the UP election results are out & Modi(yes he was the only factor in this election,not BJP or SP/BSP/Congress) won UP by largest victory in 40 years.This thread has served its purpose & people(at least those who voted) have given their verdict in favour of demonetisation.Let's hope for more such radical reforms in future because that's what this country needs not status quo.


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