Indian 1000Rs and 500Rs notes banned from 08-Nov-2016

[T-72]

Why ? just go to the bank and get the old notes exchanged by December 5th.

The ONLY reason someone cannot do that is if they have undeclared income.

I know people who are supposed to travel somewhere day after morning, banks are closed tomorrow, lot of the money is no longer legal tender, one needs some cash in hand.. besides, all sorts of businesses where a lot of their daily transactions are cash based are going to be hugely inconvenienced.

the paanwallas wont sell you some smokes if 500 is all you have in cash, don't kid yourself, this is going to be a pain.

 

[Soumitra]

Modi has thrown all news channels out of gear. They were covering US elections and now suddenly this googly. Everyone will be running helter skelter

 

[indiatester]

The gold seller can deposit those old notes in the bank till December 8th. He will be doing the transaction in white.

No he can't. Any transaction above Rs 2lakhs must be declared with PAN card of the buyer. Not easy friend!

 

[Sam.]

Totally out of the blue move

https://twitter.com/x/status/796001247547432961

https://twitter.com/x/status/796002226321833984

Banned due to Black money. Now everyone have to return 500 and 1000 Rs currency and all black money is hidden in those currency. If you have black money then convert it to white with 40 % Tax.

Good move by government.

 

[Alphacharlie]

Excellent !!

Chaiwale ka Jadu

Thank you Modi ji

 

[TimePass]

I know people who are supposed to travel somewhere day after morning, banks are closed tomorrow, lot of the money is no longer legal tender, one needs some cash in hand.. besides, all sorts of businesses where a lot of their daily transactions are cash based are going to be hugely inconvenienced.

the paanwallas wont sell you some smokes if 500 is all you have in cash, don't kid yourself, this is going to be a pain.

It won't be a pain, it will be a very short inconvenience for the long term benefit of WIPING OUT the black economy in One Stroke.

Totally worth it. i.e. If you are not corrupt. If you do have black money, serves you right. lol.

 

[indiatester]

Modi has thrown all news channels out of gear. They were covering US elections and now suddenly this googly. Everyone will be running helter skelter

This Modi is a true news maker and someone with a plan.
Man... never would I have imagined this.

 

[Soumitra]

https://twitter.com/x/status/796003957365555200

 

[TimePass]

No he can't. Any transaction above Rs 2lakhs must be declared with PAN card of the buyer. Not easy friend!

Not easy, but it can be done. It will be done, of that I am sure. e.g. Multiple smaller transactions of less than 2 lac etc.

 

[Fireurimagination]

Whoa how much money can one can exchange?

 

[TimePass]

MODI ROCKS

Expect the "Secular's" to go crazy and abuse Modi over this. ..........I am loving it.

 

[911]

https://twitter.com/x/status/796003957365555200

Warning. Yea sure.

 

[TimePass]

Whoa how much money can one can exchange?

There is no upper limit if its white. If its black, expect an Income Tax Raid

 

[IndoCarib]

Greatest and daring move in the history of Indian politics. Hoarders of huge stacks of cash are screwed

 

[TheObserver]

The gold seller can deposit those old notes in the bank till December 8th. He will be doing the transaction in white.

For buying gold you need to provide your PAN card. This is highly improbable route to take.