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Demonetisation: News, Updates & Discussions

Discussion in 'World Economy' started by Mercury, Nov 8, 2016.

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Vote For or Against Demonitisation

Poll closed Nov 18, 2016.
  1. Good Idea, Well Executed

    19 vote(s)
    67.9%
  2. Bad Idea, Badly Executed

    1 vote(s)
    3.6%
  3. Good Idea, Badly Executed

    8 vote(s)
    28.6%
  1. Levina

    Levina Guest

    No i meant why would anyone have to show aadhar card to get Rs 100?
    I'm sorry I'm pretty dileattante when it comes to money.
     
  2. vstol jockey

    vstol jockey Colonel MILITARY STRATEGIST

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    The biggest SWISS bank of the world operating out of Lucknow-Sahara Parivaar has just gone bankrupt and its CMD will be back in Tihaar for a very very long time now.
     
  3. A_poster

    A_poster Captain FULL MEMBER

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    Is that confirmed?

    I think recirculating Rs500/- note and introducing Rs2000/- note would defeat this move of abolishing Rs500/- and Rs1000/- for now. It would be better to circulate only lower denomination notes and persuade people to use e-Transactions for high volume trade. The push of GoI towards financial inclusion and digital India would make sense in light of this discontinuation. Modi waited for infra to support digitalization to be ready before striking.
     
  4. R!CK

    R!CK 2nd Lieutant REGISTERED

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    Expecting Smog levels to increase in India over coming days.

    [​IMG]

    Good Day!
     
  5. stephen cohen

    stephen cohen Lieutenant FULL MEMBER

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    Once NEW currency notes are introduced the Current Black money holders will
    have to come out with their Old undeclared Black money hoardings
     
  6. vstol jockey

    vstol jockey Colonel MILITARY STRATEGIST

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    To exchange your 500 note, you will have to prove your identity and if you are not an Indian, Banks will ask you for a proof to show where you got this money from. So you have to be an Indian to be able to exchange these notes in a bank.
     
    Dagger, Levina and Ankit Kumar 001 like this.
  7. Darth Marr

    Darth Marr Captain FULL MEMBER

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    This is a huge heart attack for all the political parties in UP and Punjab elections....
     
    Dagger, Levina and Ankit Kumar 001 like this.
  8. BlackOpsIndia

    BlackOpsIndia Lieutenant FULL MEMBER

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    The black money is kept either in gold or in cash. Now since the cash is going to come out the people will either opt for some deal with Income tax department to whiten the money or trade notes with others at certain commision who can exchange them in name of company deposit.

    This extra cash that will be exchanged with new notes will then be used to buy gold as black money. There are many safeguards to prevent this misuse on massive scale but still considerable amount of money will be exchanged and then converted all into gold.

    Illegals can still trade, using loopholes of deposit. There is no ban on deposit on notes, but if normal people do that PAN card is required and IT department will take notice but companies can do that easily with current account and later show some kind of loss by buying some land or something else. There are enough loopholes in transaction of companies. While most illegals wont trade but enough illegals will find backdoor to rise the demand high.
     
  9. Darth Marr

    Darth Marr Captain FULL MEMBER

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    ISI printing press out of business, no money for Kashmir stone pelters....

    Ajit_Doval_2014 (1).jpg
     
    Ankit Kumar 001 likes this.
  10. Dagger

    Dagger 2nd Lieutant FULL MEMBER

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  11. Kalmuahlaunda

    Kalmuahlaunda Lieutenant FULL MEMBER

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    At the stroke of the midnight hour, when the world sleeps, India will awake and count Rs 500 and Rs 1000 Notes
     
  12. Levina

    Levina Guest

    Gotcha!
    :)

    America will count votes ...
    India will count the notes
     
    Last edited by a moderator: Nov 8, 2016
  13. vstol jockey

    vstol jockey Colonel MILITARY STRATEGIST

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    I fully agree with you. Let us move to a plastic money/banking economy from cash economy and for that we must have notes of smaller denominations.
     
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  14. randomradio

    randomradio Colonel REGISTERED

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    Absolutely incredible. He killed black money in just a few minutes. Damn, I withdrew a lot of money from the ATM only today, gotta go to the bank now. :lol:

    Abso-f**ingklutely incredible.

    Apart from black money, all the counterfeit money became useless in one fell swoop.
     
  15. Dagger

    Dagger 2nd Lieutant FULL MEMBER

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    Hmm. the purchasing power of Rs vs $ is surely gonna rise making gold cheaper. We will see if it can offset the demand effect you mention.
     
    Levina likes this.

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