Old Currency of Rs. 500 and Rs. 1000 Void from 09th November 2016

[Nairrk]

Nothing normal (or even near normal) in my place.

I just went to my Bank ATM to withdraw some money, but the machine still giving only one 2000 rupee note. Also understand that all other Bank ATM are also releasing only Rs.2000 note. Where do we get change for this Notes????

 

[rselva]

rselva your views appalls me. it really got me thinking where in india you live and after i continued i was wondering if you are living in a real world.

In Modi Land, of course! Every statement made by me was sarcastic, as is evident from outrageous statements contrary to the truth.

 

[abhijit]

Total deposits in Jan Dhan accounts have increased to Rs 64,252.15 crore, with Uttar Pradesh leading the chart with Rs 10,670.62 crore deposits followed by West Bengal and Rajasthan, the government said on Friday.

Unaccounted deposits in scrapped currency notes up to December 30 if declared to taxmen will attract 50% tax, along with a lock-in of 4 years, sources said.

In case the disclosure is not made and the unaccounted money is detected by tax authorities, it will be charged with 60% tax and a longer lock-in period, the sources added.

 

[TSIVipul]

Now a rickshaw puller in a nearby city has finally committed suicide. It was discovered that there was no flour, pulses, milk etc left in his home. They had money in 500 rupee notes but couldn't exchange due to shortage of cash and unavailability of a bank account in family.

Who is responsible for the plight of this family? I shall be visiting this place in the morning, what any of our members who are strongly following this decision, would like to tell to the family of this man justifying this move?

 

[allhyundaicars]

In Modi Land, of course! Every statement made by me was sarcastic, as is evident from outrageous statements contrary to the truth.

come on you should have added sarcasm line at the end.

@ vipul - sadly there was no one to hear the voices of the poor before and there's no one to hear it today. i had ordered woolen gloves and monkey caps from a friend to donate to rickshaw drivers and people living on streets , n november starting but till now he hasn't open his shop because there is no sale and can't order more because of the casg crunch. last when i talked he said to give him the money whenever i want but in new currency. hopefully by end of this month i get the items from him.
_________________________________________________________________

many people were questioning how will the government levy the 200% penalty.
here's an article on the same

Income Tax officials unsure how to slap 200% penalty on income mismatch

Read more at:
Income Tax officials unsure how to slap 200% penalty on income mismatch - The Economic Times

now the government have come up with new idea.

New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits - The Economic Times

let's see if we get some more people to question this idea as well.
_________________________________________________________________
another news

Deposits in Jan Dhan accounts rise to Rs 64250 crore
https://www.google.co.in/url?sa=t&r...77.cms&usg=AFQjCNF9CembnGHn7lCB_8K1kQmSG52yLA

government indirectly provided the black money holders a way to make the money white.
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one more video is also being shared on whatsapp. bjp politician dr harsh vardhan being beaten by public near a bank.
don't know what to say. if it's real then he was at the wrong place and at the wrong time.
there are numerous videos on whatsapp and online which shows the actual suffering of people but it's a shame that most of their stories are not shared via the news media.
i really hope the situation improves.
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there's printing mistakes on the new 500rs note.

http://indianexpress.com/article/in...-rbi-says-use-them-or-return-to-bank-4394132/

now people holding defected notes have to stand in Queue once again to replace the new notes.
pathetic implementation , no planning at all.

 

[allhyundaicars]

" what a master stroke"

India Validates 82% of 'Cash Ban' Notes

About 12.6 trillion rupees of 15.3 trillion deposited in banks.
Government estimated 4-5 trillion rupees would be unclaimed.

Private indicators published over the past week signal that the $2 trillion economy will be hurt by the cash clampdown around 130 trillion Rupees

Economists have also slashed India’s growth forecast for October-December, imperiling the nation’s status as the world’s fastest-growing big economy.

Source : https://www.bloomberg.com/news/arti...tes-shot-as-india-said-to-validate-82-of-cash

 

[TSIVipul]

Looks like the estimates of the government are finally failing. What they estimates as black money, is either converted to white now or is not actually the black at all. I am now looking forward for more interesting facts to come up.

 

[allhyundaicars]

Looks like the estimates of the government are finally failing. What they estimates as black money, is either converted to white now or is not actually the black at all. I am now looking forward for more interesting facts to come up.

another desperate move to block the notes coming into the system.
just pathetic rules.

RBI says deposit over Rs 5000 in demonetised notes allowed only once till December 30

RBI says deposit over Rs 5000 in demonetised notes allowed only once till December 30 | business-news | Hindustan Times

 

[hemantp]

A new rule every day!

What started with a great hope has become a farce. Even worse is Modi fans / BJP guys trying to shift goalposts every now and then.

On the other side, there are tards, crooks, jokers who looted this country for many many years and still are destroying the minimal number of states they rule now.

We, the people are caught between the two, still hoping for recovery :)

 

[jazzyb5454]

A new rule every day!

What started with a great hope has become a farce. Even worse is Modi fans / BJP guys trying to shift goalposts every now and then.

On the other side, there are tards, crooks, jokers who looted this country for many many years and still are destroying the minimal number of states they rule now.

We, the people are caught between the two, still hoping for recovery :)

You mean to say these are not crooks.

 

[IndicaDLS2002]

remonetisation of old currency: No plan to reprint entire demonetised amount, says Arun Jaitley - Times of India

 

[allhyundaicars]

remonetisation of old currency: No plan to reprint entire demonetised amount, says Arun Jaitley - Times of India

Their inability to print made him to say this statement. When various sites can post the stats of how much the government can print it am sure rbi officials knew how much time it will take to print but they still went ahead with the shortcut. I think they said they will print atleast 50% of the value till 30th December but many newschannels said they can only print 6000 crore per day. And according to this it will take a total of 10 months.

And they want us to go digital. I am 15k short because of these so called digital methods.
I tried 8k first and transaction failed then I tried 7k and it failed again. And guess what got both deduction messages after 10 minutes. Both debit messages at the same time.


No refunds nothing. Freecharge says to contact the bank. Now I can wait till 30th December and hopefully bank lines will be no more in the new year. But what about those who just have very less money in their accounts. So no cash method to pay. No digital method.
Another user

 

[allhyundaicars]

PMO refuses to make information on demonetisation drive public

https://www.google.co.in/amp/m.indi...unjab/1/841536.html?client=ms-android-samsung

If this was a masterstroke then why is the government afraid to make the details public ?

Another news.
Now, Demonetisation May Eat Into Your Savings Account Rate[\B]

Now, Demonetisation May Eat Into Your Savings Account Rate - Bloomberg Quint

 

[soap]

Eeerily, I have moved to full cash mode after the demonetization drive.

I withdraw money from my bank. I need to get up early and get into the bank since the queue is less. I only get 2000 rupee notes. Now, how do i break these big notes?
- go to the phone store and pay the bill in cash and get change
- go to fuel pump and pay in cash. I haven't received the 0.75% refund anytime and anyway my card does not have any surcharge or other extra costs. Either way, I am using cash now

More often than not I get soiled 100 and 50 rupee notes which I try to dispose at the earliest. So, I pay cash in shops and services rather than pay in card. ex. groceries (which I purchase more frequently now).
The smaller shops are more than willing to dispose their soiled notes with me for a crisp 2000 rupee and I oblige them. So, this is a to and fro transaction.

I run out of cash and then I go to bank again. The cycle continues.

Slowly, I now have enough cash to wade through the situation. My visits to the bank have come down.

I dont use paytm. All that I do is use bank transfer (using my personal computer) which i used to do anyway before the demonetization.

 

[IndicaDLS2002]

Rs 2,000 note stopgap arrangement, says the man behind PM


Rs 2,000 notes a temporary arrangement, will be ultimately withdrawn: RSS ideologue | Business Standard News

Interesting Video