iCharts Discussions

[vinay28]

who cares about the logic? let those with black money worry about it.

[pkholla]

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Prakash Holla

[apka]

As always, my intent with any thread or post is to share and gain knowledge. Not entice anything else

1. Logic is required to be shared because opposition parties, even persons like Arvind Kejriwal who started with anti-corruption agenda, seems to have become anti anti-corruption. Anyways, their public statements spreads and creates fear mongering and false imagehood of BJP, while the real purpose is lost. A lie repeated a 1000 times starts sounding like the truth.

2. Regarding 2000 notes being found on terrorists. It's 3 days old news that suspected militants looted 12 lacs from JNK Bank Budgam branch. It's not a conspiracy. It actually shows how this move has caused cash crunch to even terrorists and they have become desperate. Gov should announce the note numbers to discourage people from taking those notes and to alert authorities if they are handed over. At this early stage, it maybe easy to trace them backwards.

3. First week line was about 3 hour long in the bank for me in a nationalized bank. Yesterday it took less than 60 minutes. Usually it takes around 15-20 minutes. So, a little more time is no hassle. Private banks HSBC, Standard Chartered the waiting time is even lesser. Surely, in a few more days its only going to reduce, not increase.

4. There was a TOI article i came across recently from 2010 that the UPA gov had outsourced about 1 Lakh crore Indian currency printing to foreign countries! The amount of risk they put India at is immeasurable. Apart from this, BJP has stopped import of special quality paper from a german supplier whom they found to be a vendor to Pakistan also, which maybe part of the reason why they were able to print fake currency with the high % of similarity.

5. Regarding, the kharcha of printing, the same will be outweighed in the long run simply jugding by the amount of cash that has come into the banking system gives a nudge in laying a possible roadmap and moving towards banking transaction tax gradually and reducing income tax.

6. Surely, there will be hinderances and especially to the daily wage earners. Gov is slowly realsing they cannot force the complete move without certain exemptions and hence you see relaxations for wedding withdrawals, purchase of crop seeds for farmers using old notes, increasing withdrawal limit for individuals, current & overdraft accounts, etc.

7. Regarding, the doubts about mehul shah's post. I didn't blindly believe because it's from a CA so it has to be the final explaination. But i copy pasted as i received it because the logic made sense to me, irrespective of whoever concieved the idea. Apart from this the most simple explaination is that if either of new 500-1000 notes were to be printed in bulk so as to not induce any inconvinience for the general public its very likely that seeing the reduction in production of old notes and increase in new means there is going to be a replacement soon and this would have leaked outside. The very idea of giving a late night after working hours surprise announcement was to catch everyone offguard and leaving them no time to be able to do anything. If convinience was given the higher priority in this matter, then the basic premise would have been lost.

8. Same explaination goes for ATM recaliberation. People complain they should have kept same size of notes to avoid inconvience and delay in recaliberation -- but the point was to make the dye plates of of fake currency a waste. Also to another point must be to reduce cost. The new note are smaller in size.


Let's discuss more

[pkholla]

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Jai Hind, Prakash Holla

[pkholla]

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Jai Hind, Prakash Holla

[pkholla]

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Cheers, Prakash Holla

[pkholla]

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Cheers, Prakash Holla

[anusantosh]

Modiji ka Second flop show Climax is arriving....

Sources say out of banned 15.44 lac crore banned 14 lac crore is deposited back to Banks. It is hardly 1.44lac crore left and 10 more days left and in all chances it may also be deposited back. That is the reason they started new drama of depositing more than 5000Rs. can be done once and all. If all the money back to bank means where do they find black money? In order to cover this flop show they already started new terminologies - cashless/digitization bla bla etc....

Their First flop show was bringing black money from Swiss accounts and depositing 15 lakhs in every Indian's account!! Many thought opening Jan dhan account is for that only!!!

[apka]

Please stop and open your own thread to vent if it's allowed by icharts to keep ... I did not make this thread to invite fans of Arvind Kejriwal to do their Street trolling and hooliganism here. I can reply to all the points but you aren't looking to reason thats why I stopped writing anything here.

My thread is for information sharing and learning. Don't dilute it with your uncivilised manners.