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

[timalenusa]

good job

 

[danger007]

my dad is a bank manager no queue

My brother is banker.. manager but in another city .

 

[rott]

I am sure the black currency can be converted to white. But then it will drag in the federals.

 

[TimePass]

False any very high amount transaction in a savings account is shortlisted to be checked/verified. It is said to be a mechanism to combat thiefs but it can be used in other ways too.

Your logic is flawed, that argument is baseless

LOL.... what is 'transactions" ? only withdrawal ? or is it DEPOSITS ? only withdrawals without deposits are never checked by the system. At most they can seek additional verification.

Its not my logic that is flawed, its your understanding of the Indian banking system that is negligible.

In India "Million" system is not followed and people can keep as much as they want at home given its white money.

I am in India and I just used the term "million". No one said people cannot keep cash at home. That is a stawman argument.

But to conduct large transactions in cash is a sure sign of Black money. Either using it or helping others create it.

I am sure the black currency can be converted to white. But then it will drag in the federals.

Its called "Money Laundering".

He doesn't understand one thing, am using money from my fixed to buy a property.. as am paying certain amount in cash, he is thinking am using black money.. kinda silly logic..

I said you are HELPING him generate black money. You are equally guilty by law in helping him evade tax.

Do you know how to read and understand simple english ? read my posts again if you find it difficult to understand it the first time.

Its called being an accessory in Crime. Learn the Law.

 

[danger007]

LOL.... what is 'transactions" ? only withdrawal ? or is it DEPOSITS ? only withdrawals without deposits are never checked by the system. At most they can seek additional verification.

Its not my logic that is flawed, its your understanding of the Indian banking system that is negligible.



I am in India and I just used the term "million". No one said people cannot keep cash at home. That is a stawman argument.

But to conduct large transactions in cash is a sure sign of Black money. Either using it or helping others create it.



Its called "Money Laundering".



I said you are HELPING him generate black money. You are equally guilty by law in helping him evade tax.

Do you know how to read and understand simple english ? read my posts again if you find it difficult to understand it the first time.

Its called being an accessory in Crime. Learn the Law.

He can't hide.. he need to submit his adhaar card, finger print and photo.. when im mentioning 100% money, it is will be white money regardless he put in bank or hide in attic or dump in dustbin. You are being over smart without knowledge. Each and every transaction more than 100 000, in suspicious manner always under scanner.. i hope you stop wasting my time and band width.. you are no one to question, im paying my hard earned money. I tried to explain you, but i don't understand your prob if i pay in cash. Stop crap

 

[indiatester]

banks to open after two days ?

but we have a weekend coming
and is monday also a holiday ?

banks should be told to open on saturday, sunday and holiday also

Banks to remain open during the weekend to help customers.

https://twitter.com/x/status/796326584323952640

 

[hanuman]

Banks to remain open during the weekend to help customers.

https://twitter.com/x/status/796326584323952640

good

 

[AndrewJin]

I am sure the black currency can be converted to white. But then it will drag in the federals.

Do u know in North Korea they had the same policy some time ago?
Change your money in the bank! Otherwise your money will be useless.
Does it work?
No, rich people use dollars and multinational banks for money laundry, they do not hold useless currency.

 

[hanuman]

Do u know in North Korea they had the same policy some time ago?
Change your money in the bank! Otherwise your money will be useless.
Does it work?
No, rich people use dollars and multinational banks for money laundry, they do not hold useless currency.

we have a lot of small time corrupt people here

who have lakhs and crores of money stashed in 500 , 1000s

atleast that money will come out

maybe it makes only 10-20% diffrence

but even that is not less

not to say that some time back it was reported as black money is 75% of gdp
20 % of that is almost equal to
the whole GDP OF PAKISTAN

http://www.thehindu.com/opinion/editorial/dark-truths-about-money/article6288530.ece

link to my claim as black money being almost 75% of GDP

 

[TimePass]

He can't hide.. he need to submit his adhaar card, finger print and photo.. when im mentioning 100% money, it is will be white money regardless he put in bank or hide in attic or dump in dustbin. You are being over smart without knowledge. Each and every transaction more than 100 000, in suspicious manner always under scanner.. i hope you stop wasting my time and band width.. you are no one to question, im paying my hard earned money. I tried to explain you, but i don't understand your prob if i pay in cash. Stop crap

LOL. The procedure for stamp duty is not computerised and linked to his pan number. He will have to physically declare those and he will not declare the money he has got in cash and will hence be black money.

No one cares how you spend your money, only about you whining that the Modi govt. do not allow you to indulge in generating black money. To expect any sympathy for that is just plain funny.

 

[scionoftheindus]

lol @ your silly post. Many Indians on social media bashing Modi. One of my friend said "B***** ye jo mainay aaj ATM say nikalay hain unko Modi ke........ may doon ?" LOL

We are in India..not you..many people are praising modi..your friend might be one of those corrupt people who is going to lose his Blackmore..so the whining.there is some suffering..some people are complaining..but we have to make such sacrifices for the greater well being of our mother land.
I know it's hurting you..I know deep inside you are wishing that you had a prime minister like him.

 

[TimePass]

Do u know in North Korea they had the same policy some time ago?
Change your money in the bank! Otherwise your money will be useless.
Does it work?
No, rich people use dollars and multinational banks for money laundry, they do not hold useless currency.

How does it matter if they use MNC banks or Indian banks ? They all follow Indian law when they operate in India.

Its impossible to convert the currency in a bank if you do not declare it. Banks in India have to follow a Mandatory KYC i.e. Know Your Customer.

 

[Great Sachin]

Do u know in North Korea they had the same policy some time ago?
Change your money in the bank! Otherwise your money will be useless.
Does it work?
No, rich people use dollars and multinational banks for money laundry, they do not hold useless currency.

Some countries are running printing press of fake Indian currency ....that will be useless for sure

 

[hanuman]

Some countries are running printing press of fake Indian currency ....that will be useless for sure

why ??

why will they not switch over to new design notes ??

 

[scionoftheindus]

banks to open after two days ?

but we have a weekend coming
and is monday also a holiday ?

banks should be told to open on saturday, sunday and holiday also

Banks will be open on Saturday and sunday