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500 & 1000 rs notes stopped from tonight


tweaker

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@Tibarn and @Muloghonto You guys need to learn to talk to other with respect. And if you can not do that, then stop reporting every post of each other as both of you are to blame equally.

 

Read this carefully

I am not going to warn any of you as for me it is fine to express free speech as long as one is not talking about someone's family, race etc. But other than that, lets stop being so sensitive and complaining about little things. If someone calls someone idiot, just stick it back to him without profanity. This is online forum, moderators and admins are not the teacher here who will come back and slap the other guy for calling someone idiot. Ignore the post if you don't like. The less we intervene, the better for you guys to express your free speech. 

 

Enjoy this forum and talk freely whatever you want and in between all this, learn to adjust. :dance:

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https://www.thequint.com/currency-ban/2016/11/28/new-500-note-printing-halted-will-shift-to-rbi-mysore-press-urjit-patel-governor-narendra-modi-1000-demonetisation

 

Quote

A former RBI deputy governor, who retired a few months before the Modi government and the newly-appointed central bank Governor Urjit Patel set their sights on the now-controversial demonetisation exercise, disclosed to The Quint that the rate of printing of the new Rs 500 note was “very low at only 5 million pieces per day at Nashik and Dewas, where the machinery was outdated”.

At this rate, the printing of the new Rs 500 note would take 10 months, the former RBI deputy governor said, adding that “the Modi government not only acted in haste, but consulted very few officials who had no idea or knowledge of the Herculean task before them”.

The source is supposedly a former deputy RBI governor. If true, pathetic from the government and RBI. 

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5 hours ago, radhika said:

I bought milk and curd for rs 100...I gave 2000 and got 1900 back.

My sabziwala told me he will give change in the evening for the 2000 I gave him....I will collect my 1700 in the evening.

Why didn't you give the change you got from purchasing milk and curd to purchase the sabzis? :money:

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1 hour ago, Mariyam said:

Why didn't you give the change you got from purchasing milk and curd to purchase the sabzis? :money:

First I went to buy sabzi....he did not have change so he offered to write it down.:deal:I told him I want change because I have to pay maid:bebored: .

 

So he said:hmmmm: ...you can pay later I will give you change ...but I wanted to make sure he gives me change .:stupido2:Sooooo...I gave him 2000 and told him....give me the rest when you have change(you see how I acted smart...:makeup:)......

Then I went to the milk walla and gave him another 2000 rs note and got 1900.

In the evening the sabzi walla gave me 1500 and he told me you buy 200 rs worth sabzi later.

 

So I have got 1900+1500=2400  ki change....:money:

 

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First I went to buy sabzi....he did not have change so he offered to write it down.:deal:I told him I want change because I have to pay maid:bebored: .

 

So he said:hmmmm: ...you can pay later I will give you change ...but I wanted to make sure he gives me change .:stupido2:Sooooo...I gave him 2000 and told him....give me the rest when you have change(you see how I acted smart...:makeup:)......

Then I went to the milk walla and gave him another 2000 rs note and got 1900.

In the evening the sabzi walla gave me 1500 and he told me you buy 200 rs worth sabzi later.

 

So I have got 1900+1500=2400  ki change....:money:

 

Let's hope the sabzi and milk Walla we are better at counting changes ::cantstop:

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Quote

Over Rs 11 lakh crore back into banking system: Sources Over Rs 11 lakh crore has been brought into banking system till November 30, people close to the government’s demonetisation drive told CNBC-TV18. The government had declared as invalid Rs 500 and Rs 1,000 notes worth about Rs 14 lakh crore.

Read more at: http://www.moneycontrol.com/news/economy/over-rs-11-lakh-crore-back-into-banking-system-sources_8049961.html?utm_source=ref_article

A big blow to all those who were expecting that large number of black money will never come into banks

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6 minutes ago, Singh bling said:

A big blow to all those who were expecting that large number of black money will never come into banks

Once again here are numbers, Total 500/1000 notes. =14 lakh

Government had estimated that 3 lakh crore windfall. ie 11 crore only to come back to system. 

 

First week 5 lakh,

Second week 3 lakh,

Third week in three days 3 lakhs, Either people have gone to make use of new scheme of self declaration or all the transaction post week 1 week will be under IT scanner.

 

How successful or unsuccessful scheme has been in catching all the crooks will be decided in future. I can guarantee you, One letter from IT department to a comman/innocent man  who have rented his account will make him pee in pants.

 

And big fishes with big transactions cant hide themselves.

 

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15 minutes ago, mishra said:

Once again here are numbers, Total 500/1000 notes. =14 lakh

Government had estimated that 3 lakh crore windfall. ie 11 crore only to come back to system. 

 

First week 5 lakh,

Second week 3 lakh,

Third week in three days 3 lakhs, Either people have gone to make use of new scheme of self declaration or all the transaction post week 1 week will be under IT scanner.

 

How successful or unsuccessful scheme has been in catching all the crooks will be decided in future. I can guarantee you, One letter from IT department to a comman/innocent man  who have rented his account will make him pee in pants.

 

And big fishes with big transactions cant hide themselves.

 

3 points

 

1) Plenty  of people including me has not deposited their money because of queues in November

2) The people that are renting their account is lower class , most have temporary address in cities , they are not highly educated and don't know  abc of income tax . Income tax can hardly dent them because they don't have any property in cities and their accounts have minimum balance. they don't even stay in 1 place .Even in rural area's their property is in name of their grand parents or parents.

3) IT deparment in India hardly have enough manpower to go after all these transactions .A simple calculation 50,000 deposited in account of 10 crore people = 5 lakh crore. So IT department will need scrutinise 10 crore accounts Is it possbe?

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You are being ignorant. IT department can print and post 10 lakh letters. Arrest 100 people. Put it on news channels for 2 days and that will do.

Still if you dont get it, Answer me this, Why would someone risk a jail term for say a meagre sum of 20,000 -50,000 when he can guaranteed get 25,000 to 1,75000 by telling the truth.

 

All it requires is some "will" by government which it has shown so far.

Edited by mishra
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You are being ignorant. IT department can print and post 10 lakh letters. Arrest 100 people. Put it on news channels for 2 days and that will do.

Still if you dont get it, Answer me this, Why would someone risk a jail term for say a meagre sum of 20,000 -50,000 when he can guaranteed get 25,000 to 1,75000 by telling the truth.

 

All it requires is some "will" by government which it has shown so far.

IT cant arrrest people.

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