Demonetisation in India-News and updates

[艹艹艹]

Because laundering off wealth illegally has increased your income and made you the 2nd largest economy

I'm going to change a new car next month

 

[Joe Shearer]

You are mistaken, for it remains shearer, pakistan and congress.

Its not sloppiness when its deliberate.

But your desperate attempt to issue me a "certificate" AGAIN is duly noted ...... some tactics never change.

I take it that you are a re-tread?

 

[Kyusuibu Honbu]

I'm going to change a new car next month

All thanks to CCP's record on illegal outflows

 

[艹艹艹]

All thanks to CCP's record on illegal outflows

Poor Indian.

 

[Kyusuibu Honbu]

Poor Indian.

Blushing corruption apologist Chinese

 

[TimePass]

That is grammatically wrong; proper nouns are capitalised. So wrong in detail, as well as wrong in concept.

Why does that sound familiar?

Then its a Good thing I am not writing to somebody important

Some time bad grammar communicates the essence of the message far more clearly than a long winded post.

 

[Joe Shearer]

Then its a Good thing I am not writing to somebody important

Some time bad grammar communicates the essence of the message far more clearly than a long winded post.

It's, not its; good, not Good; sometimes, not some time. Bad grammar communicates nothing but the lack of skill of the culprit.

 

[BABA AGHORI]

Are you seriously going to pretend that this move has not greatly inconvenienced everyone ? What if they want to go on a road trip to say, Jaipur or Pushkar or something like that, you're going to need cash, unless you only go from hotel to hotel.

Question is not about inconvenience to a common man. the question is why embassy needs more cash and cannot function with 50,000 INR a month. And possible solutions for it.

Govt. did raise the limit to 2.5 lakhs for weddings. therefore for genuine reasons i don't think GOI will make a mockery of itself. Isn't it ?

 

[TimePass]

It's, not its; good, not Good; sometimes, not some time. Bad grammar communicates nothing but the lack of skill of the culprit.

Those who deliberate about grammar are those who emphasise style over substance.

Those with no substance tend to cover their limitations with flower language and good manners that is designed to ingratiate themselves with powers that be. It used to work in the past where who you knew was more important than What you knew. Those who are trapped by the past find it a struggle to understand the new world order.

 

[Joe Shearer]

Those who deliberate about grammar are those who emphasise style over substance.

Those with no substance tend to cover their limitations with flower language and good manners that is designed to ingratiate themselves with powers that be. It used to work in the past where who you knew was more important than What you knew. Those who are trapped by the past find it a struggle to understand the new world order.

I don't know what you mean by substance, since you are 462 messages old and have 5 negative ratings, unless you are a veteran who cannot find acceptance, and has to creep in again and again and again. Obviously very few others agree with you. Certainly you not only do not ingratiate yourself, you offend people, and apparently a wide selection of people.

As for what you know being more important, if grammar is an indication, you know little; nor is your knowledge of economics any better, or your understanding of life for the ordinary people whom you seem to know very little.

You talk grandly about the new world order; what are you referring to? There is no new order, only an attempt at recreating the dinosaurs of the past. What substance are you referring to, exactly? Something that keeps getting you thrown out repeatedly? anyone with substance would surely be sought after, if not here then elsewhere. It seems that nobody will have you but this forum, 500 to a 1000 messages at a time.

It may be time for you to take a good look at yourself. That will not be very pleasant, perhaps, but it may bring you back to reality.

PS: 'Flowery' language, not 'flower' language; there should be a 'the' before the 'powers that be'. And 'whom you knew', not 'who you knew'. Why do you even bother with the white man's tongue?

 

[Solomon2]

Poor guys dont even have food to eat.Our sympathies are with you russian brothers.

Ha. I imagine it's more likely the Russians are upset because they can't withdraw enough cash to pay off their local spies!

 

[SrNair]

I refuse to believe that you cannot work it out. Merely for the sake of the record, let me go through this once.

View attachment 358173


Indulge me for a moment, and assume that this is a realistic representation of the distribution of currency notes within the population, before demonetisation.

1. MOST of the currency, that is, almost ALL the Rs. 1,000 notes, most of the 500s, and most of the 100s, 50s and 10s were concentrated in the hands of the population represented by the blue rhombus;
2. In value terms, the blue portion used 1,000 and 500 notes for 90% of its transactions; the other notes also came in useful;
3. The red portion had less money, because it earned/earns pitifully less, and nearly 90% is in the lower denominations: 100, 50, 20 and 10;
4. Now, apply demonetisation. Nearly 90% of the currency in the blue portion vanishes; it is no longer valid, and it is not replaced immediately;
5. The blue portion thereafter grabs all the lower denomination notes that it can, through its greater access to ATMs and to bank accounts and plastic, also through its familiarity with on-line transactions. But that is only the lower denomination notes that it had been holding; there is a vacuum and that blue sector needs more currency.
6. Where do you think that needed currency comes from, considering that the banks, the RBI, is unable to replace the missing notes completely?
7. What do you think happens to the red sector?
   1. It spends the currency in stock;
   2. It cannot replace it, because the lower denominations are no longer readily available;
      1. The blue sector has sucked up most of it;
      2. The banks are not getting enough to issue those;
      3. The banks are desperately trying to get enough 2000 rupee and new 500 rupee notes to meet the demand from the blue sector, and has no time to help out the red sector;
   3. It can't use the new 2000 rupees, and just about can handle the new 500 rupees notes.

I hope that gives you a feel for the massive disaster that has taken place.

Agreed .
And there is a possibility of stocking of the lower denominations by blue sector ,something that is already happening.
But how can they acquired the lower denomination notes circulated among the red sector?
AFAIK the lower denominations supplied from ATM and banks are new notes.

But I would like to say ,it couldnt stop the black money .Due to the limited option of GoI (including ineffective approach) and through the joint effort of 'honest' bank officials .
Still it did some good job .Especially in preventing of the circulation of near perfect FICN from foreign nations.

Of Course this has some serious flaws .Lack of preparedness (lack of sufficient new notes ) ,and it was already began to leak through several ways (after all this is India,we were always for self interest ,that same traits we follow even after thousand years foreign rule).Our oppositions also did good job ,they didnt embraced and encouraged the bright side of this policy ,nor they helped the common man ,but played a nice drama for mere political benefit .How can they support something that gives nice political mileage to BJP and Modi?

 

[Joe Shearer]

Agreed .
And there is a possibility of stocking of the lower denominations by blue sector ,something that is already happening.
But how can they acquired the lower denomination notes circulated among the red sector?
AFAIK the lower denominations supplied from ATM and banks are new notes.

But I would like to say ,it couldnt stop the black money .Due to the limited option of GoI (including ineffective approach) and through the joint effort of 'honest' bank officials .
Still it did some good job .Especially in preventing of the circulation of near perfect FICN from foreign nations.

Of Course this has some serious flaws .Lack of preparedness (lack of sufficient new notes ) ,and it was already began to leak through several ways (after all this is India,we were always for self interest ,that same traits we follow even after thousand years foreign rule).Our oppositions also did good job ,they didnt embraced and encouraged the bright side of this policy ,nor they helped the common man ,but played a nice drama for mere political benefit .How can they support something that gives nice political mileage to BJP and Modi?

Let's leave the opposition out of it. Perhaps the only justification I can find for Modi and his Monkees is that it keeps the opposition out of power.

I largely agree with the drift of your post, and am feeling too lazy to quibble with the minor points on which I differ.

Few years back when I visited India was told India will soon have polymer banknotes, did you?

No.

And with the brouhaha over the 5 pds note in the UK, not likely to, anyway.

 

[Great Sachin]

i see a clever plan for introduction on 2000 rupee. it is here to go...the question is when....and this fear will stop people to stock it

 

[Joe Shearer]

Agreed .
And there is a possibility of stocking of the lower denominations by blue sector ,something that is already happening.
But how can they acquired the lower denomination notes circulated among the red sector?
AFAIK the lower denominations supplied from ATM and banks are new notes.

The red sector is spending, but is not receiving money back.

But I would like to say ,it couldnt stop the black money .Due to the limited option of GoI (including ineffective approach) and through the joint effort of 'honest' bank officials .
Still it did some good job .Especially in preventing of the circulation of near perfect FICN from foreign nations.

Black money has nothing to do with currency denominations, it is unaccounted, untaxed money. By demonetising the 1000 and 500 rupee notes, people were forced to come out with their stocks of cash, and they were forced to bank it. Once that is done, and while the accounts are being examined to spot wildly exaggerated paying in, the accounts showing that the poor are suffering, hugely, don't exist.

Of Course this has some serious flaws .Lack of preparedness (lack of sufficient new notes ) ,and it was already began to leak through several ways (after all this is India,we were always for self interest ,that same traits we follow even after thousand years foreign rule).Our oppositions also did good job ,they didnt embraced and encouraged the bright side of this policy ,nor they helped the common man ,but played a nice drama for mere political benefit .How can they support something that gives nice political mileage to BJP and Modi?