Banks, ATMs Not Running in Muslim Areas Modi a 'Tyrant', - Owaisi

[Kaniska]

Hyderabad: Hitting out at the government over demonetisation, AIMIM president Asaduddin Owaisi on Monday accused Prime Minister Narendra Modi of being a "tyrant" and alleged banks and ATMs in Muslim dominated areas in the city were not functioning.

"Every family is in distress today...I cannot withdraw my money. Who made this law," the Hyderabad MP said, addressing a public meeting on the occasion of the birthday of Prophet Muhammad 'Milad-un-Nabi'.

The Prime Minister should remember that those standing in queues now to withdraw their money would stand in queue again to vote against him (in the elections), Owaisi said.

Talking about Modi's 'fakir' remark, he asked whether a 'fakir' wears a "Rs 15 lakh suit".

"What type of a 'fakir' is he?...Would any 'fakir' give pain..You are not a 'fakir', you are a 'zalim' (tyrant)," he said.

Modi should come to the old city of Hyderabad to see the suffering of the people as they cannot withdraw their money, said the AIMIM chief about the constituency he represents in Parliament which has a large Muslim population.

"Why cashless economy? We will not do cashless economy.

Give me my money. Credit card, how many credit cards are there in India. I bet there won't be even one or two percent of credit cards with Muslims. Not with Dalits.

"Banks are not open in our Muslim localities. If the bank is open, it is declared 'red zone' and loans are not available.

If ATM is installed, money is not coming out of them in our localities," he alleged.

Claiming that the demonetisation would not have any fruitful outcome, he said experts have estimated a loss of three percent of GDP due to this decision.

The NDA government has failed to check price rise and bringing back black money, Owaisi alleged.

On December 3, the Prime Minister at his rally in Moradabad in Uttar Pradesh had said he was being targeted for cracking down on those with black money.

"I am being hounded as if I have committed some crime by waging a battle against graft. But, what can my opponents do to me? I am a fakir (hermit) jhola ley kar chaley jayenge (I will exit with my little belongings)," Modi had said.





http://www.news18.com/news/politics...atms-not-running-in-muslim-areas-1322237.html

If Bank ATM is not working, then it is the responsibility of the State Gov to fix rather than Modi's responsibility.

 

[MULUBJA]

Few "Clueless Idiots" and their Zalim Modi rant...

Almost all ATMs in my area is closed due to no cash for last 25 days.To withdraw cash,I had to go to nearest branch of SBI(2+ KM walk) and withdrew merely 5K cash against cheque.

But like most other people,I'm also not ranting "Zalim Modi".

Those who are protesting are mostly got their @r$3 kicked due to black money.

What do you expect from these owasis who openly say in public meeting to kill 100 crore Hindus in few hours. Their politics run on invoking Muslims against Hindus. Infact, no ATM has cash now a days except the one in bank itself.

 

[cocomo]

Abbe chal dafa ho.....cow cow laga kay rakha hay lol

phatu

 

[danger007]

Rs 1.8 Crore in new Rs 2000 notes which were recovered from Prem Singh Bedis house in Riddhi Siddhi Apartment during a raid by the CDI in Guwahati.

While the consumption of currency paper over the last few years has been in the range of 25,000 tonnes annually, officials said that almost 18,000 tonnes are now manufactured at the Reserve Bank of India (RBI) presses.

Officials of the Finance Ministry and Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) said that the order may be shared by around nine foreign firms who have obtained security clearance from the Home Ministry. They include Landquart from Switzerland, Komsco from South Korea; PWPW from Poland; Arjowiggins from France; Crane from Sweden; Goznak from Russia; PT Pura from Indonesia; Fabriano from Italy and Louisenthal from Germany.

At least six of these firms are current suppliers of currency paper to India while others may be included in the limited tendering process for the first time. In the past, British currency paper manufacturer De La Rue and Germany’s Louisenthal had been blacklisted by the Home Ministry on security considerations. Louisenthal has since obtained the clearance while De La Rue remains barred. Another company to recently obtain security clearance was Sicpa, the Swiss firm that supplies specialised currency paper inks to India. As The Indian Express first reported on December 1, the optically variable ink made by the company was imported in a hurry in the weeks following the demonetisation announcement.



Raids conducted by the Police and CBI in border areas have got enough money . the old currency and even the new ones.

Smuggling chains have be identified by the intelligence agencies coming from across the borders.

It's not that Intelligence agencies or The officials not aware of this hawala gangs or black money hoarders. These raids are nothing new, grabbing poor money to right off corporates Loans is kinda rude.

 

[danger007]

Ever wondered why the people who were already against Modi are the only ones opposing this demonetization?

Demonization got a thumbs up from all the major international banks and organizations.

http://economictimes.indiatimes.com...th-on-demonetisation/articleshow/55949303.cms

Modi's 50-day deadline for re-monetisation set to fail http://headline.uodoo.com/story/435...rowser&entry1=shareback&entry2=page_share_btn

 

[Roybot]

Modi's 50-day deadline for re-monetisation set to fail http://headline.uodoo.com/story/435...rowser&entry1=shareback&entry2=page_share_btn

I had a quick look at the calculation, and could see a few problems.

Firstly, one thing is for sure that the total value of the new notes will not be equal to the value of older notes in circulation. It would kinda defeat the whole purpose of this exercise.

So lets proceed with the Rs 9 Lakh Crore target.

One thing this blogger missed is the fact the more and more smaller notes can be printed simultaneously along the Rs500 notes, Rs100 note for example. As mentioned by the OPhimself, less than half of the presses are capable of printing higher value notes (Rs 2000 and Rs 500) . Which means at least half of the presses are free to print smaller denomination notes on a war footing.

Using the same figures this means, at least 5.56 Crore Rs 100 can be printed every day! This translates to Rs 550 Crore ( $84 Million ) in value.

That means, total value of the notes that can be printed every day is = $418 Million ( New 500 Rs notes) + $84 Million (New Rs 100 notes)= Roughly $500 Million dollars a day.

So the government needs to have Rs9 Lakh crore ($135 Billion) legal currency in the market. Of this $60 Billion worth of Rs2000 note has already been printed. $33 Billion exists in the form of smaller notes (Rs 100,50 and 20). That leaves a shortage of $42 Billion dollars.

Total currency in circulation = New Rs 2000 notes(Already Printed) + New Rs500 and Rs100 notes + Old smaller notes in circulation Rs (100,50,20)

$135 Billion= $60 Billion + $42 Billion + $33 Billion

At a rate of $500 Million/day worth of new Rs500 and Rs100, government can cover the shortage in $42 Billion/$500 Million = 84 days

So if we were to take the starting point of full capacity printing of newer notes (both Rs 500 and Rs100) as 1st of December, the shortage should be covered by the end of February at most. So the OP's estimate is way off !

Plus mind you, it is a gradual process. With every day passing by, there will be more and more Rs 500 and Rs100 notes in circulation which will gradually ease the pressure off and return things back to normalcy. Its not like people have to wait till all the notes to come back into circulation to continue with their business.

So no Modi's 50 day deadline is not set to fail. He had had said that problems will ease off in 50 days, which it will. Don't believe everything you read.

 

[ashok321]

It seems Modi is also a crook & a criminal:

https://twitter.com/x/status/808961698027761665

No jobs..

 

[Roybot]

It's not that Intelligence agencies or The officials not aware of this hawala gangs or black money hoarders. These raids are nothing new, grabbing poor money to right off corporates Loans is kinda rude.

Now you are just pulling a Kejriwal, and here I thought I could reason with you!

 

[utraash]

IT raids quite common even before not something new. Just compare it to the damage done post demonitization.

Frequency must have been increased & its a natural trend in the backdrop of demonetisation.
Can you elaborate the damages done according to you ?
Can you suggest more effective way to bring out those hoarders in public ?
Can you suggest how to curb the corruption at lower level ?
Can you suggest another aspect of how to bring the flow of money back into banking transacting system?

Will you guarantee that any of your suggestion won't puzzle common ppl?

Though I concede that ppl are facing huge problems & implementation could have been much smoother...

 

[danger007]

Frequency must have been increased & its a natural trend in the backdrop of demonetisation.
Can you elaborate the damages done according to you ?
Can you suggest more effective way to bring out those hoarders in public ?
Can you suggest how to curb the corruption at lower level ?
Can you suggest another aspect of how to bring the flow of money back into banking transacting system?

Will you guarantee that any of your suggestion won't puzzle common ppl?

Though I concede that ppl are facing huge problems & implementation could have been much smoother...

It was modi who promised to bring black money from abroad..

He initially said note ban is to bring black money.. zero talk about digital economy and today this step is towards digital economy.. damage is to small vendors and businesses.. loss of life's in the banks and at the atm. Today a lady hand fractured in bank.

Black money hoarders outside bank @2AM ..

This is not rally .

And people struggling to withdraw their own money ... if you don't see hidden anger from common man, it will be big loss..


When we are not ready for digital economy - forget about people but banks itself are not prepared to face cyber threats.. this step is more for up election than black money.

 

[Sher-e-India]

phatu

daalkhor lol

 

[deckingraj]

It's not that Intelligence agencies or The officials not aware of this hawala gangs or black money hoarders. These raids are nothing new, grabbing poor money to right off corporates Loans is kinda rude.

Can you prove that charge?? Is there any data out there which says what you are saying......

 

[ashok321]

Your wait outside an ATM could stretch till April next year

The crux of the problem is change, specifically the Rs 500 note, which the country's presses cannot, currently, print in adequate numbers.

 

[danger007]

Can you prove that charge?? Is there any data out there which says what you are saying......

Write off not right off.

 

[deckingraj]

Write off not right off.

actually i ignored it as i could make out the gist of your post...my question still stands...plz share your thoughts