500 & 1000 rs notes stopped from tonight

[rkt.india]

With this move, Modi has risked his next term big time.

[tweaker]

The limit to exchange old notes of Rs 500 and Rs 1000 is Rs 4000 till further review by the RBI and NOT per day as has been misunderstood by some people. The Frequently asked Questions (FAQs) on the RBI website and the notification regarding de-monetisation mention that old notes of Rs 500 and Rs 1000 can be exchanged at bank or post office branches till December 30, 2016 up to a value of Rs 4000 by filling up a form and providing ID proof. The notification regarding this does not state that this is 'Rs 4000 per day'. 

[tweaker]

Now I will start unraveling the plan. 

First. How easy do you believe is it to leak an image of new currency and that too in good detail without any action, without any reaction from govt.? Isn't it such a huge security blunder? Isn't that a matter of concern?

 

Govt acted so cool .. not even a news report that why such a thing happened.. Well coz it was done by RBI (Govt.) itself .. They leaked out the Image of Newly minted Rs. 2000 with the rumour of a NGC Nano GPS Chip on it to track it even 130 meters below ground. But why would they do that .. also why not put a news about 500 with a chip as well .. what did the govt. want to achieve with the tactic?

 

3 Days later, .. Surgical strike Conducted on Black Money (9th Nov) .. No one could have dreamt that 500 and 1000 Rupee Note would be stopped coz 2000 is a new denomination .. an Addition not a replacement. And news about new 500 never came in the market.

 

You wanted your target which is guilty and nervous (ready) to feel relaxed .. A whiff of new note of existing denomination would have send a chill down the spine so that is why its 2000 and not a Rs. 1000 note. Also with NGC, the culprit feels that okay so govt. is taking measures on new money, nothing is gonna happen to old as its not gonna get replaced (there is no existing 2000 Rupee note to replace.) Its a measure for future notes and my Rs. 500 and Rs. 2000 are safe. 

 

The same is applicable to terrorists and their handlers as well. Who dont want to be tracked with 2000 rupee note, better start stocking 500 and 1000 Rupee notes now.

 

You may ask why even announce about the 2000 Note then? Recall the characteristics of Surgical Strike, the target knows that 30th September Deadline is over there could be action so it is always better to relax the target and then launch the offensive for maximum accurate damage. (How it would relax has been explained in previous paragraph if that thought crossed your mind).

 

This was primary objective. Secondary Objective, The culprit is relaxed about new note but aware that this new note with chip wont be easy to hoard (stock) so better remove Rs. 500 and Rs. 1000 notes from market and convert from 100s to 500s and 1000s .. the culprit is in trap.

 

Tertiary and quite a valid important Objective:

86% of currency in circulation is in denomination of 500 and 1000. The valid white money crunch is going to crush the economy. Introduction of new money would be slow .. you need a high denomination to fill that void (not completely but to some extent). Don't expect too many 2000 rupee notes to be printed, they are just to tackle this emergency situation which govt. did expect to get created.

 

Now the next question is if its the objective why not leak 2000 image earlier enough for them to stock maximum. Remember, it is secondary objective and longer the time after a relaxing stroke, the more the chance that culprit becomes aware and take evasive measures.

 

So now .. Who all knew about stopping of existing 500 and 1000 rupee notes? No one except Modi Ji, Arun Jaitley and RBI Gov. I doubt if there is a fourth person who knew about it.

 

Why not others? How would it matter anyway .. its stopping the existing denomination .. don't need much preparation to remove the existing, what needs planning is introduction of new currency. So phasing out can be done at the drop of the hat and that is what was done without many people being informed about it.

 

So what about the new Rs. 500 Note? Did the banks know.. Ha Ha .. they did not?

 

I came across this article in the evening today and it confirmed my .

"They (Bank Heads) had been called to the RBI in the morning to receive a locked currency chest which they were told contained notes of the new 2,000 rupee denomination. They were under strict instructions not to open the chest or speak about it until later that night, according to the Mint newspaper.

It was when they opened it, as PM Modi was speaking, that they learnt about the new 500 rupee note, the paper added."

The banks were told that they should give more Rs. 100 notes and not Rs. 500 or Rs. 1000

 

Another line from the article above - "Last week, the RBI had ordered banks to issue more 100 rupee notes but no one seemed to have seen what was coming."

EDIT: RBI had issued a notification for banks to dispense Rs. 100 Notes through ATMs on 2nd November. 

What other unintended but obvious objective did the Rs. 2000 Note trick achieve? Machines in Karachi worked overtime in last three days to print 1000 and 500 as Rs. 2000 would not be easy to print with the NGC chip (they thought would be real, the hoax worked), only to waste their resources and go *** after the announcement.

 

"The Directorate of Revenue Intelligence, Research andAnalysis Wing and other intelligence agencies had exposed Pakistan governmentacquiring ink and paper far in excess of requirement to print Pakistani currency."

 

The Rs. 2000 trick was a diversionary tactic as well as a trick for black money hoarders to hoard in 500 and 1000 currency notes since 2000 with NGC would not be easy to hoard. 

Once you assimilate this one little plan in the whole scheme of things that Modi has tried to checkmate Black Money with, you would only say Modi Sir, You beyond awesome !!!

[beetle]

1 hour ago, rkt.india said:

With this move, Modi has risked his next term big time.

It is still far away. If he does good work ,people will forget the inconvenience. 

People without black money are really happy.The ones with little black will forget...the real chors will of course remember.

[beetle]

 

Demonetisation drives Kashmir Valley agitation into hawala dead-end

Quote

http://www.hindustantimes.com/india-news/demonetisation-drives-kashmir-valley-agitation-into-hawala-dead-end/story-Gf5GVNNa4GHy1a4XEWTFZN.html?utm_source=base&utm_medium=also-read

 

 

[beetle]

After demonetisation move, more tough steps in offing with eye on revenue

Quote

Prime Minister Narendra Modi may not stop at the demonetisation move that took India by surprise on Tuesday evening.

“More such moves are in store,” a government leader in know of the Tuesday decision said without elaborating.

The aim is not only to strike at the root of black money or choke funds of terror and Maoists, but also mop up more revenue to change the ‘scale’ of development activities.

“What else are we in power for?” he said. “Our estimate suggests 90% of people will end up supporting the move.”

Modi government is the first in three decades to get a majority on its own and it rode to power in 2014 riding on popular vote against corruption sluggish economy.

There is admission in the government and the BJP about the possible impact of the move on its committed vote base – such as small traders – but realization about the need to take ‘risks’ was too overbearing.

Government leaders feel the demonetisation move will flush the illicit money and fake currency out of economy and help garner more revenue for some ambitious programmes that will be rolled out eventually.

Those privy to the demonitisation discussion before it was made public on Tuesday hint that next couple of years will see increased spending on armed forces, infrastructure creation and other such activities.

“The plan expenditure of the government did not grow over the last seven years. We will increase it many fold,” he said.

Government leaders are unequivocal in sending out strong message to those hoarding black money. “There will be no relief for those depositing unaccounted money over and above Rs 2.5 lakh. Ham baal ki khaal nikal denege,” the leader warned suggesting strong action if unaccounted wealth was brought into the banking system. “It should be treated as scrap.”

The BJP, too, is also not dismissive about the immediate impact of the decision on impending election, with its leader suggesting that regional parties would be hit the most. “We don’t want to contest costlier election. This will help reduce election expenditure,” one of its office bearer said.

 

[jalebi_bhai]

3 hours ago, tweaker said:

No one except Modi Ji, Arun Jaitley and RBI Gov. I doubt if there is a fourth person who knew about it.

Director of the ED probably, since ED deals with money laundering. 

[tweaker]

Railway officer suspended for swapping Rs 100, 50 notes with Rs 500, 1000

[Tibarn]

http://www.hindustantimes.com/india-news/demonetisation-drives-kashmir-valley-agitation-into-hawala-dead-end/story-Gf5GVNNa4GHy1a4XEWTFZN.html

 

Demonetisation drives Kashmir Valley agitation into hawala dead-en

Quote

“The J&K police has reported to New Delhi that separatists are flummoxed by the move as a result of which the four-month long agitation may be on the backburner. The separatist leaders rely on hawala channels through Bangladesh, Nepal and Dubai for funding the agitation. It is these sources that have dried up,” a home ministry official said on condition of anonymity.

 

[coffee_rules]

5

[coffee_rules]

[tweaker]

The no-longer-in-use 500 and 1000-rupee notes were spotted by people bathing in the river in Mirzapur in Uttar Pradesh. 

 

On Wednesday, sacks full of the high denomination notes were found abandoned in the town of Bareilly. And yesterday, a rag picker in Maharashtra found a trash bag packed with about Rs 50,000 worth of the old currency.
 

[tweaker]

 

[tweaker]

The demonetisation of high value currency notes by the Modi government has suddenly made 'money-changers' and 'entry-operators' active in managing black money.

 

Money changers are reported to be using zero balance 'Jan Dhan' accounts, mostly held by BPL families, as a vehicle to convert old currency by depositing Rs 500 and Rs 1,000 notes up to Rs 2.5 lakhs in these accounts.

 

"I am getting handsomely paid for depositing up to Rs 2.5 lakhs in my 'Jan Dhan' account and withdraw money when the restrictions end," a tea stall employee standing in a queue outside a bank here said.

 

Reportedly, money changers are taking 20-30% cut for the entire transaction of changing old banned currency with new notes.

 

There are more than 25 crore Jan Dhan accounts and the money changers and entry operators are tapping this segment to convert black money to legal currency.

 

However, All India Federation of Tax Practitioner Vice-president Narayan Jain said such a tactic was not practical on a mass scale, although some of these accounts might be misused.

 

A building material supply syndicate member in the satellite township of Rajarhat told a news channel here that they were facing huge problem following the government decision.

 

"Most of our trade is transacted through hard cash. Now, we found out a way (through entry-operators). We manage to get Rs 70 lakhs for Rs one crore," he said.

 

Income Tax department sources said they were keeping an eye on such entry-operators and had tracked one in the city recently.

 

Jain cautioned that the people using entry operators to convert their black money might get double-trapped.

"I-T will enquire once high value transactions take place, so it is advisable to disclose the source of the money officially," he added.

[tweaker]

Deposits of more than Rs 2 lakh crore of old Rs 500 and Rs 1,000 notes have come into banks so far, but recalibrating ATMs to dispense the new notes will take two to three more weeks, finance minister Arun Jaitley said on Saturday.

[Tibarn]

[tweaker]

6 hours ago, Tibarn said:

Lot of people should do that 

Lot of rumors are spread & people are panicked

[tweaker]

After news of a future hike in the prices of sugar and salt spread across the city, people rushed to stores for stocking up on the items. A few shops took advantage of this and sold the commodities at rates higher than the usual.

The rumours spread via social media yesterday — that salt would soon cost R100 a kg and sugar R400. The police had to deploy personnel in several areas to control the crowd.

[jf1gp_1]

I did expect usual suspects from congress, mulyam, mamata to lash out against the change what i wasnt expecting was kejriwal who ran on anti corruption platform to react in such a crappy way or mamta so majorly impacted that she is willing to join hands with left.

 

I knew this scheme would bring out black money, i however also have faith in our 'judad' mentality and knew we have plently who wont let this scheme successed however with every passing day intensity of negative reaction is increasing so i guess its working better than expected.

[tweaker]

Government is looking into sudden 'popping up' of money into zero-balance Jan Dhan accounts, after an unprecedented Rs 2 lakh crore of cash flooded the banking system within just two days of demonetisation of high value currency.