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

[allhyundaicars]

So according to rbi 480 million(48 crore) 2000rs notes were printed (till 11th November) 2000rs note is printed at a cost of 3.54 rs.

So they must have spent around 200 crores (round figure) to print these for a small period. Great. And to phase out the 2000rs , if they print 500rs note they will have to print atleast 192 crore notes of 500rs. 500rs note is printed at 3.09rs
So another 600 crore Rupees to print the new 500rs notes. Well obviously they won't print just the 500rs note but lower denominations also.
So government is ready to spent thousands of crores[\B] for this BS ides which didn't do anything to curb corruption.

In total, removing the old notes and replacing them with the new Rs. 500 and Rs. 2,000 notes will cost the central bank a total of at least Rs. 12,000 crore.

New notes to cost RBI more than Rs. 12,000 crore - The Hindu

NoW add the cost of phasing out the 2000rs note to the 12000 crore amount.

 

[jazzyb5454]

Read somewhere that govt. is going to pay Rs. 922 crores to toll plazas for incurring losses. What about other people who suffered losses due to demonetisation?

 

[allhyundaicars]

Another 1000 crore expense. Monetary losses can be recovered but what about the liFE loss. Did government announced any Monetary benefits to the deceased's kin ?
There will be much more loss to the country as a whole and let's see how much this year's gdp will be.

 

[nmm mithra]

Read somewhere that govt. is going to pay Rs. 922 crores to toll plazas for incurring losses.

Why doesn't the govt. take steps to make that 1000 crores in ATM's so that the ATM's don't get dried up.

 

[jazzyb5454]

so after 50 days 95% of ATM's are still not working in my city and rest, i can still see ques of atleast 30 people outside ATM's

 

[jazzyb5454]

Now ATM operators to seek compensation from government.

ATM operators to seek compensation - Times of India

Every corporate and big companies will get compensation but what about people who are finding it difficult earn their livelihood?

 

[pravin1987]

life in my c town has gone to stone age.out of 5 bunks only 1 has got swipe machines. no petrol, no diesel.. walking/bicycle is the solution.

local grocery stores and shop keepers doesn't know what swipe machine is. eat plants and hunt animals? No Fancy expensive super markets.

crops grown in our fields cannot be transported to nearby town. used by us.

7 atms in our locality still remains closed for 47 days. Bank says no Money but the local A*** politician exchanged old notes and gave commission for the bank. In turn bank manager, happily served free food for all employees and divided the cash..

Not to find fault with the decision.. in chennai i can find a way to live..but the argiculture oriented places where people even doesn't know to use atms ?

 

[IndicaDLS2002]

https://www.thehindubusinessline.com/economy/currency-with-public-hits-record-high-post-demonetisation/article24127708.ece

Should we expect another demonetisation soon .... ??

 

[Nairrk]

Nothing will happen, atleast before General elections in 2019..!

 

[carcommentor]

https://www.thehindubusinessline.co...-high-post-demonetisation/article24127708.ece

Should we expect another demonetisation soon .... ??

If that happens, the present party will never come again to power in the entire history of India. You can fool people once, twice is too much! Moreover, poor RBI hasn't finished counting the returns of the first demonetization yet. How will it handle another one ?