500,1000 Rs Note no longer legal tender!!

[Navnit Kundu]

in that case, wouldn't it make sense for BJP to stop publicising about this move being to target corruption?

Seems like he did it deliberately, I am not an economist, I don't understand these nuances, those who hide money know all these tricks. Maybe he was bluffing to make sure people do not invest in real estate and gold to offset their losses in the currency shuffle. Maybe. Let him be the one to justify his actions. I think normal middle class urban people who pay TDS are the least affected so they have moved on with their lives.

This is what I want to say :

 

[OneGrimPilgrim]

http://m.economictimes.com/news/eco...d-for-demonetisation/articleshow/55550552.cms

the bokil theory I think is being deliberately pushed by the media. they've made it gone viral, when infact people like R. Vaidya have been telling the same since atleast 2009. also, we don't know whether the story about bokil meeting NaMo and getting 2 hours and all that is actually true. I read it somewhere that these seem to be made up stuff.

could you pls reply to my earlier post?

 

[OneGrimPilgrim]

Seems like he did it deliberately, I am not an economist, I don't understand these nuances, those who hide money know all these tricks. Maybe he was bluffing to make sure people do not invest in real estate and gold to offset their losses in the currency shuffle. Maybe. Let him be the one to justify his actions. I think normal middle class urban people who pay TDS are the least affected so they have moved on with their lives.

This is what I want to say :

you seem to have confused it with some other post

 

[indiatester]

http://epaperbeta.timesofindia.com/...l=At-Rs-136L-cr-only-10-of-the-22112016001047

Only 10% of cash deposited. If we take government figures if 30% remains undeposited. Then 60% money still left. Wonder if lines will go long or not.

Right now some 75000 ATM's have been recalibrated out of 200000 ATM's. That should ease some pain.
More important is the supply of new legal tender. The long lines are dependant on that whether its at ATM's or in banks.

 

[DingDong]

http://epaperbeta.timesofindia.com/...l=At-Rs-136L-cr-only-10-of-the-22112016001047

Only 10% of cash deposited. If we take government figures if 30% remains undeposited. Then 60% money still left. Wonder if lines will go long or not.

May be the remaining cash will never get deposited and the government will print equivalent amount of new currency notes and put them in it's pocket. That will do wonders to our budget deficit.

Queues in front of banks and ATMs have thinned out at most of the places. My gut feeling says that the Middle and Lower classes and those having manageable amount of unaccounted cash have already swapped most of their 500 and 1000 Rupee currency notes with legal tenders.

 

[OneGrimPilgrim]

@sayareakd saar to beech majhdhaar mein chhod gaye!

some updates:

1. maoists are reported to be depositing old notes in banks through villagers

2. y'day there was news that PM might reconsider the demonit move. it seemed highly improbable esp at this stage, however PM has asked 10 questions to the people, regarding the move. answers can be given on NaMo app. i think this could be another mastermove to push the opposition & the DDM deeper into the chakravyuh!
Tapatalked!

 

[Navnit Kundu]

you seem to have confused it with some other post

Yes. Brain is fried this week.

 

[DingDong]

Anything to do with demonetization?
BJP has performed better than expect everywhere.

 

[salute]

and commies dont like it .

 

[IndianHawk]

and commies dont like it .

And nobody likes commies anymore

 

[hit&run]

RBI Wants Action Against Fraudulent Officials

The Reserve Bank of India (RBI) today warned all bank officials who are indulging in fraudulent practices while exchanging or accepting deposits of Rs 500 or Rs 1000.

“It has been brought to our notice that at certain places, few bank branch officials, in connivance with some miscreants, are indulging in fraudulent practices while exchanging Specified Bank Notes (SBNs) in cash / accepting SBN deposits into account,” the RBI said.

The RBI has asked the banks to take stern action against officials who is involved in such activities, "Banks are, therefore, advised to ensure that such fraudulent practices are stopped forthwith through enhanced vigilance and take stern action against officials involved in such activities."

The regulator also advised the banks to keep proper record of the transaction happening in the branch, "Banks should ensure strict compliance with the instructions issued with regard to exchange of SBNs as also deposit of such notes into the accounts of their customers. Towards the same, the bank branches are required to maintain proper record of the following;

Denomination-wise details of Specified Bank Notes and aggregate value of non-SBN note deposited in the account of each deposit or loan customer from November 09, 2016 onwards.

Customer-wise and denomination-wise record in respect of SBNs exchanged by walk-in and regular customers."

It further said that banks should also be in readiness to provide these details at short notice.

 

[ezsasa]

Was going thru RBI data on digital economy ( at POS)..
Interesting bit is that digital currency usage has been growing at a rate of 25% YOY.
2014-- 1.1 Lakh crore,
2015-- 1.45 Lakh crore
2016-- 81k crore(for five months), bound to increase tremendously this fiscal. Probably cross 2 lakh crore this fiscal.

My point is that the whole hulla in media regarding people not adopting to digital economy is just plain dumb, people are adopting digital currency just fine. 25% YOY consistent increase is no joke.

 

[republic_roi97]

Anything to do with demonetization?
BJP has performed better than expect everywhere.

This also shows that Hindus of WB are waking up to the truth that their very own identity is in Danger with ongoing attacks against Hindus in Bangladesh as well as the events that happened this Hindu Festive Season, the persecution of Hindus, therefore, they are supporting BJP. Obviously, Demonetization is a factor in play.

 

[F-14B]

and commies dont like it .

Which is suprising sinces the commies are the ones crying barral loads of glycrin induced tears for the common man

 

[salute]

.....................................................................................

 

[ezsasa]

C-VOTER poll on demonetization..

 

[prasadr14]

C-VOTER poll on demonetization..
View attachment 11801

If these numbers are true, opposition, barring Nitish has completely misread the step and have skewered themselves..

 

[jackprince]

Anything to do with demonetization?
BJP has performed better than expect everywhere.

BS news. Don't trust twitter. The seats up for election indeed showed good margin for BJP, but nothing spectacular and actually less than what it was in LS 2014, Assembly 2016. Also, BJP came 2nd only in Cooch Behar LS where TMC won by the margin of 4.9 lac. BJP lost deposit in Monteswar Assembly.

http://www.livemint.com/Politics/mR...ection-TMCs-Dibyendu-Adhikari-Parthaprat.html

Given the terror spread by TMC in last election, none would dare go against TMC diktat in a bye-poll.

 

[vayuu1]

If these numbers are true, opposition, barring Nitish has completely misread the step and have skewered themselves..

I have a strong feeling, nitish may join hand with bjp in near future.

Sent from my SM-N900 using Tapatalk

 

[Vishwarupa]

http://www.financialexpress.com/ind...cy-notes-demonetisation-narendra-modi/452503/

Is Arvind Kejriwal’s AAP using DTC to exchange illegal currency notes?