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

[TimePass]

It's a stupid populist move that will make the lives of people so much harder. Now people will have to carry 5-10x the amount of notes to pay for things. Also the grace period given is only a few weeks so NRIs holding currency have basically lost their money.

Which NRI is holding huge hordes of INR ? ........... and why are they hoarding it and not deposited that in banks ?

 

[Great Sachin]

Cant wait to see new 500 and 2000 bill

 

[thesolar65]

Now Black Money holders will be like Nehru.....burning Cigarette with Notes!!

 

[TimePass]

Of course, correlation isn't causation. Corruption isn't meant to be traced by the system. As long as there is a motivation for corruption, people can always find clever ways to evade the system. tackling corruption by manipulating currency notes is like barking on the wrong tree.

That's a bit like saying that cracking down on street pushers selling drugs is barking up the wrong tree

There is always enough incentives for corruption, prostitution, selling drugs, stealing, murder, rape etc. etc........ That is a strawman argument.

 

[Śakra]

Which NRI is holding huge hordes of INR ? ........... and why are they hoarding it and not deposited that in banks ?

Bhai you know we are cheap. Even 1 500rs bill is $10. A few of those and that's $100s lost

China is also a country where cash transaction occupies a big chunk of its economy. So its taxation is very different from US where cashless transaction dominates.

How does China tax?

 

[TimePass]

Well am traveling in train reaching Mumbai early morning . I have nothing but 500 notes am fucked

Go to the ATM in the railway station and get unfcuked. Its as simple as that.

Now if you do not have any money in the bank, THEN you are Fcuked.

 

[pikkuboss]

I drink nice coffee, 190 bucks, and I usually pay cash with a 5er bill.

anywho, let's wait a few days and see how it is, I'm not going to rah-rah Modi or the government if it inconveniences my daily life.


yes, the limit will slowly increase to 10k after 2 weeks or something ?

this is bs

Wake up educated Indian.... When will you use the digital money? I think a 190 bucks per cup coffee shop would have pos device for sure.

 

[Serious Carrey]

But why are they gonna reissue new notes again, especially INR 2000. Now after this exercise, again there will be black money collected in these new notes.

I am not sure whether it is true or not, but some online sources say that these new Rs 2000 notes will have nano GPS chip for tracking.

 

[TimePass]

Bhai you know we are cheap. Even 1 500rs bill is $10. A few of those and that's $100s lost

Why is that lost ? ..... go to the nearest currency exchange and get it converted. lol.

 

[TimePass]

I am not sure whether it is true or not, but some online sources say that these new Rs 2000 notes will have nano GPS chip for tracking.

Solution is to use Tin Foil Hats.

 

[Bhupendra Singh_Cyan]

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

Harr cheez monitor hogi Bhai.
It's not that easy to buy gold.
Yehi ndtv par aarha tha abhi on how people will try to run for gold.savage

 

[nang2]

That's a bit like saying that cracking down on street pushers selling drugs is barking up the wrong tree

There is always enough incentives for corruption, prostitution, selling drugs, stealing, murder, rape etc. etc........ That is a strawman argument.

not true. street pushers are drug dealers. So they are the causation. Cash transaction isn't the cause for corruption. The cause for corruption, particularly corruption by government officials, is because people give too much power in their hands to affect the economy. When people realize their power means money, some of them will sell it or take rent.

 

[T-72]

But you are not waiting and have already started complaining. So you are speaking with a forked tongue.

I still fail to see what annoying navigation you have to do. All you carry is Rs. 500 and Rs. 1000 currency ?

You do not have credit card or debit card ?

for eg I have a few groups of people from out of the country traveling to different areas, cards will definitely not be working or available everywhere, there might be huge lines at the tellers and all sorts of other headaches etc so this might be a problem.. anyway, like I've said, we'll see tomorrow onward how it goes.

 

[Śakra]

Why is that lost ? ..... go to the nearest currency exchange and get it converted. lol.

It's raining outside how can I carry all this to the exchange?

 

[halupridol]

Today i am happy
Modi rocks