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For exchange, NRI needs to have KYC compliant bank account ??? What if he doesn't have it ??

Does any NRI have to deposit old notes in account or he can exchange the old notes for legal tenders ???

Usually merchants bear the cost of transactions...................

The poor you are talking about are the major survivor of this country. This effects are transient as we all know.

Bhai, even if 15% are affected by this move, people would welcome it overwhelmingly. And I tell you, many won't be spared or will be hurt a lot. Wait and watch, these raids have yield many hoarders in prison, never happened before. This is what people see. People know GOI can't touch 100%, even...

Demonetisation actually realized us many that how we were over spending behind the things which were not needed :P

Modi said give me 50 days, people have given and many have returned to normalcy, the remaining pocket areas will be filled up in couple of weeks. My father is in radhanpur rural areas and he told me that here banks are giving 24k, what's these all fuss about in media ?? Only major problem is...

Read the whole thread and see what's happening, 1 or 2 incidents doesn't mean people are angry. People who are angry are none other than the Modi haters as you can see on our forum. This move will surely be remembered as Modi vs Black money in the future and people won't buy any argument from...

I have seen the queues by my naked eye and frankly, now they're getting shorter. The day demonetisation announced, many here understood that it's gonna be difficult for 1-2 months. The queues are longer in SBI but relatively very shorter in other banks, it's virtually not present in some screw...

Na, govt would get good amount in cash, black money would come in the circulation, liquidity will give opportunity for lower rates, good for people. And people will start using digital money more and more. At least 15-20% transactions should be done via digital mode and that would help the...

Hah, the blind hatred has made you pessimist bhai. 20% is very very high and govt is not gonna stop here, wait and watch.

Of course, but they can't do all. And cut is very high, 30-40%, right now because of raids these hoarders are scared and not converting and so price is 10-12%.

In India few good are enough to spoil the lunch of bad people, even if govt achieve 20% of its goal, people will be satisfied. You have to, we always choose lesser evil, remember ?? Ramrajya is impossible in India.

It's not that easy :P Many have struggled to launder even 40 crores. In my area, maximum amount can be launder at a time was not more than 1 crore and that would take days to recover after handing over :P Irony is this business only based on trust :P and many crooks have looted such hoarders, too.

You think ALL are corrupt ?? May be these raids are staged, no ?? I highly suspect that IT department has been given targets to catch the black money and their hoarders, when they complete the target, they won't touch the rest or the one who can pay. India is full of crooks.

Yeah yeah ad hominem, great. You think we all here think that 100% people with black money will be punished and 100% branches are being monitored. Hah...... Your some branches can't wash 100% black money. Nobody's claiming that this move will wash PAAP of India in a day. Btw, in the medicine...

Read this tooooooooooooooooooooooooooooooooooooo

Bhai, everything has dalals including this, Jan dhan accounts got lots of deposits through these dalals, do you think govt will spare them ?? Any unusual activity alarm the IT, they can't reach to everyone but many will be captured, in fact they have captured many already.

That was an example, you claim to be in whole India. Lol.

Many have deposited their black money in fake accounts, jan dhan accounts and also some bhaade ke accounts. But they still couldn't withdraw the hard cash, it's still in the govt's hands and news are coming that without completing KYC and PAN linking, you can't withdraw any amount from accounts...