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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. nair

    nair Die hard Romeo Staff Member ADMINISTRATOR

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    See if there was really black money and people wee hoarding money, then they would not have deposited it in the banks.....Yes those small traders who used to work under the radar of tax dept would have got exposed...... But the intention was to catch whales and the way things are govt will end up catching sardines and mackerels....
     
    Last edited: Jan 28, 2017
    GuardianRED likes this.
  2. Schwifty

    Schwifty 2nd Lieutant FULL MEMBER

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  3. nair

    nair Die hard Romeo Staff Member ADMINISTRATOR

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    With in 2 months????
     
  4. vstol jockey

    vstol jockey Colonel MILITARY STRATEGIST

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    Lot of guys are using scanners to make fake copies. Could be one such gang.
     
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  5. Sathya

    Sathya Lieutenant FULL MEMBER

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    daily coolies stood in ques for exchanging notes for %..

    Bank people worked hard for the 2 months .... majority
    but some significant % helped in exchanging for the whales and sharks and let it escape..

    Now the IT department turn..
    i am sure majority will do fine job , some significant % will let sharks and whales escape..

    Now why are blaming government policy when we ourselves letting the government down?

    we are thinking its an opportunity to make quick cash, forgetting the bigger picture.

    Government must have realized, where our nation as a whole stands now..

    Building good citizens pool, placing them at correct positions , protecting them ,supporting and encouraging them to grow is the ideal solution.

    we have increase that pool, until everyone gets into that pool.
     
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  6. Nilgiri

    Nilgiri Lieutenant GEO STRATEGIC ANALYST

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    We have to wait and see. Demonetisation positive effects will kick in mid and long term. Deleveraged currency is just one aspect of it.
     
    nair likes this.
  7. Mercury

    Mercury 2nd Lieutant FULL MEMBER

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    Demonetisation great move for India in longer term: Apple CEO Tim Cook

    NEW YORK: The demonetisation drive undertaken by the Indian government is a "great move" in the longer term, Apple CEO Tim Cook said as he emphasised the company's strong intention to "invest significantly" in the country.

    Cook, in first quarter fiscal year 2017 earnings release conference call, said despite the demonetisation exercise, US-based iPhone maker performed well in the Indian market.

    "Despite the demonetisation move in India that created lots of economic pressure there last quarter, despite that, we had all-time record revenue results, and so we were very happy about that," Cook said in the call yesterday when asked about the company's performance in India during its fiscal 2017 first quarter ended December 31, 2016.

    Cook, 56, said the impact of demonetisation has not worked its way through yet and it is "still definitely having some overhang."

    "But I think in the longer term, it's a great move, and I feel really good about how we're doing there. We are in discussions on a number of things, including retail stores, and fully intend to invest significantly in the country and believe it's a great place to be," Cook said.

    Describing India as a "great" market, Cook said Apple will make significant investments in the country going forward.

    The Indian government had last year in November withdrawn from circulation the highest denomination currency notes of 1000 and 500 in an effort to curb black money.

    Apple's Chief Financial Officer Luca Maestri said the company established new all-time revenue records in most developed and emerging markets, with strong growth rates in many countries, including the US, Japan, Canada, France, Australia, Brazil, India, Turkey, and Russia.

    He said the iPad and its laptop range Macs did very well in the Indian market.

    Cook said Apple sold 5.4 million Macs and generated its highest-ever quarterly Mac revenue. "We were very happy to report double-digit unit growth in several countries, including Japan, Mainland China, India, the Netherlands, and Sweden, as well as in the US education market," he said.

    Apple sold 13.1 million iPads, ahead of its expectations, posting double-digit growth in China and India, "as we've expanded distribution channels in those countries and we continue to attract a very high percentage of first-time tablet buyers," Maestri added.

    Apple posted a quarterly revenue of USD 78.4 billion compared to revenue of USD 75.9 billion in the year-ago quarter. International sales accounted for 64 per cent of the quarter's revenue.

    Source: http://economictimes.indiatimes.com...m-apple-ceo-tim-cook/articleshow/56906141.cms
     
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  8. Schwifty

    Schwifty 2nd Lieutant FULL MEMBER

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  9. ASHOKSINH GOHIL

    ASHOKSINH GOHIL FULL MEMBER

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    Nilgiri likes this.
  10. lca-fan

    lca-fan Major SENIOR MEMBER

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    What you are looking at is one sided picture of banks getting funds. What you are forgetting is banks are now saddled with huge amounts of funds on which banks have to pay interest and all this money is lying idle as there is no off taking of this money. Businesses are suffering and people are afraid of investing in any new business and are even afraid of buying homes as investment or even as end users (since most are afraid of falling home costs and tightened IT norms). People are simply pushing the can down.

    What this will lead to is banks will start to go in negative or red area and will suffer losses by paying this additional interest cost (which is also the reason banks have started to charge money on every financial transaction & services they provide to recoup that loss). Total effects of demonetization will be seen only after 6-12 months starting from 01-01-2017 and by 01-01-2018 (hope this doesn't happen but economy can come to a grinding halt if there is no off take of this money).
     
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  11. Sathya

    Sathya Lieutenant FULL MEMBER

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    I already seen domestic work have increased, as all the idle money have been mobilised.

    I can understand There are lot of variables to be considered.

    Oil , steel prices have increased ..
    There is less rainfall , expected inflation in prices there as well..

    ..
     
  12. Abingdonboy

    Abingdonboy Major Technical Analyst

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  13. GuardianRED

    GuardianRED Lieutenant FULL MEMBER

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    Not a fan of HOW the demonetization was done and so far there is NO clear evidence of the Success OR Failure of this too.

    On the AADHAAR, those who are staying in the UAE can attest the usefulness of similar card called the Emirates ID - this card in is the process of being the ALL in one card ie govt services, work permit, drivers liencse (soon) bank card (soon) etc... The AADHAAR card will also be the same and support it fully! ... (Just Please protect the data )
     
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  14. Scotlander

    Scotlander Lieutenant FULL MEMBER

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  15. Inactive

    Inactive Guest

    Being covered. Nothing happens over night


    What demonetisation did was kill BSP in UP, and Mamta in Bengal :)


    Yeah, that was on 60% cut they were exchanging.

    Fair enough - business creation :)

    We have had 'tangible' success ... I can assure you. Especially in terms of thriving fake currency 'industries' in West Bengal. The BSP wipeout in UP is the biggest testament :)
     
    Last edited by a moderator: Mar 22, 2017

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