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How to rollback the demonetization policy? Musings of Dadeechi

Discussion in 'World Economy' started by dadeechi, Nov 25, 2016.

  1. Darth Marr

    Darth Marr Captain FULL MEMBER

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    Here in my town, SBI and ICICI ATM's are working fine, almost all HDFC ATM's are down. I have a feeling there is some inside attempt by banks to scuttle this...
     
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  2. Nilgiri

    Nilgiri Lieutenant IDF NewBie

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    Yah im not talking about the supposed fault % per se....just overall numbers available per person, esp when taking rural people into account. India is not highly urbanised yet...so how exactly did the rural folk get easy access to cash exchange etc? Were post offices brought into the system? Next time after flooding the supply of notes better, the govt can look to such things as cash dispensing trucks etc for the rural areas to ease the chokepoints...of them having to travel or entrust a local collector/dispenser etc.
     
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  3. vstol jockey

    vstol jockey Colonel MILITARY STRATEGIST

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    Even I have a feeling that lot of Banks and their Branch managers are taking commission to convert old notes to new notes and depriving general public of cash. There is definitely a conspiracy by banks to defeat demonetisation. I fail to under stand why these banks have not been able to get their ATMs going till date. They just don't want the ATMs to work.
     
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  4. Darth Marr

    Darth Marr Captain FULL MEMBER

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    Aren't post offices already in the system ? People have been opening accounts and depositing their notes in my local post office in a past few days. I asked one of my friends in Bihar how it was going on in his village, he noticed most of the new 2000 and 500 notes were being transfered to rural areas leaving a shortage of cash in Urban areas. Maybe the objective is ti push Urban areas to online banking while sending the new currency notes into Rural areas. He also noticed Mobile ATM's arriving in his local village every now and then.
     
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  5. nair

    nair Guest


    Thats the point, You want army to do all your dirty work (or the works which others cant do as efficiently as army) and you treat them like dirt........ Some how we take them for granted..... This should stop.... If army can do this why other cant??? It is time the govt work on attitude of Babu's and employees......
     
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  6. nair

    nair Guest

    ATM's are handled by others or agencies appointed by Banks ( I agree the banks provide the money to load) and there are other logistical issues involved, such as soft ware update and infra update for the new notes...... You cant blame the banks alone for this... Yes some banks maybe doing this.....
     
  7. Darth Marr

    Darth Marr Captain FULL MEMBER

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    Treated like Dirt ? Being over dramatic much all of a sudden ?
     
  8. vstol jockey

    vstol jockey Colonel MILITARY STRATEGIST

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    How many days does it take to update software or hardware once the fixes needed have been identified? There is every reason to believe that banks are trying to scuttle this move.
     
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  9. nair

    nair Guest

    It is not only banks there are others also...... Let us not forget there are several guys who has lost big time with this move......
     
  10. Darth Marr

    Darth Marr Captain FULL MEMBER

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    When you have ATM's from a single bank being closed all over, then you blame the bank not anything else...
     
  11. Nilgiri

    Nilgiri Lieutenant IDF NewBie

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    Ok good to know. I wasn't aware of the details.

    My finger to the wind has mostly been relatives (urban folk), my parents (expats in singapore heh) and the huge discussion on Bharat Rakshak (which has been a real gem of on the ground information for me).
     
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  12. Darth Marr

    Darth Marr Captain FULL MEMBER

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    From what i gather, problems are in places with a high population density. Things seem relatively fine everywhere else...
     
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  13. Inactive

    Inactive Guest

    Interjecting - there is definitely a resistance in the system to demonetization. People are trying to sabotage the easy roll out of new cash into the system no doubts.

    However, it is not very grave. As far as I know, the Devas and Nasik facilities are manpower intensive yet are not meeting their production targets. Mysore has been able to not only meet production targets but is now being given additional tasks of printing of Rs 500 notes. So far they were printing Rs 2000 and Rs 100 only. Now, with full floor production on, it is upto Rs 500 also. We should be seeing some ease in next couple of weeks as circulation increases. But Indian mentality of hoarding has to be curbed for it to take an early effect.
     
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  14. randomradio

    randomradio Colonel REGISTERED

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    To tell you the truth, if I was a sabji mandi wala, I would continue taking the 500 and 1000 notes and deposit them in banks.
     
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  15. Joe Shearer

    Joe Shearer VETERAN MILITARY STRATEGIST

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    Those are the mice. The rats are the civil 'serpents'.
     

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