Demonetisation and its Aftermath

blr_p

Well-Known Member
Veteran
Apr 11, 2007
5,960
1,267
301
New currency notes cannot be printed by a private company after Govt bought currency production under RBI (Indian Ministry of Finance)

and only BRBNMPL has the tech to produce new notes. So its common sense that new notes are printed by them?

https://m.rbi.org.in/Scripts/AnnualReportPublications.aspx?Id=1235

RBI annual report. Gives the exact figure how many notes were printed.
ok so there is a lot in there and shows we do make the current notes

Yes. they're good enough. Earlier dull colors were easier to spot but now these outlandish colors makes shopkeepers check twice before accepting them.
So this is the thing, we make efforts and still the fakes are good enough

Sustained efforts were made towards indigenisation of banknotes production with sophisticated security features.
And here we see how many counterfeits were detected by denomination post notes ban.

counterfeit notes detected.JPG

How long until the new fakes detected reaches levels of the old notes ? ie 100k+ detected annually

Those figures are still small. In 2015-16, 14 cr worth of fake Rs.1000 notes found. Jumps to 25 cr in 2016-17 and then drops back to 10cr the year after

cash supply.JPG




Its not cultural. Its a push by chinese government to monitor population and keep dissent in check. Both alibaba and tencent receive massive amounts of money by chinese govt and these companies are also required by law to give data to goverment.
It is easier to deny services to people with low social credit scores if the only way to avail those services is epayments with ID attached.
 
Last edited:

adventureguy

Well-Known Member
Veteran
Nov 16, 2015
1,207
552
126
Hyderabad
^ Yup. Thats why I'm in favor of plastic notes. They are harder to fake and also the fakes notes' printing doesn't last long. (fake notes will still be present but they will be easier to spot, also the printing will not last long)

also yeah, china is already denying people with low social credit scores with airports and train stations access. ****ed up
 

blr_p

Well-Known Member
Veteran
Apr 11, 2007
5,960
1,267
301
What does the word 'indent' signify in that table ? they made an order for so many notes ? were they delivered and can we consider them as the amount in circulation ?

Then there is 'supply' which i presume is the notes in circulation.[DOUBLEPOST=1556806788][/DOUBLEPOST]
^ Yup. Thats why I'm in favor of plastic notes. They are harder to fake and also the fakes notes' printing doesn't last long. (fake notes will still be present but they will be easier to spot, also the printing will not last long)
And what about the national security risk giving this order to a foreign company ?

Or are you referring to when we can mint plastic notes in country some time in the future
 

toocool6600

Well-Known Member
Adept
Nov 7, 2012
270
78
66
^ Yup. Thats why I'm in favor of plastic notes. They are harder to fake and also the fakes notes' printing doesn't last long. (fake notes will still be present but they will be easier to spot, also the printing will not last long)

also yeah, china is already denying people with low social credit scores with airports and train stations access. ****ed up
Low score also means no marriage and no living in main cities, and living in outer cities with much less facilities, no one will marry person with low score

The call to that person will caution the caller that you are going to talk to a low score person and beware in that case
 

adventureguy

Well-Known Member
Veteran
Nov 16, 2015
1,207
552
126
Hyderabad
What does the word 'indent' signify in that table ? they made an order for so many notes ? were they delivered and can we consider them as the amount in circulation ?

Then there is 'supply' which i presume is the notes in circulation.
indent is basically government term for "order".

supply means number of notes actually supplied to RBI.I don't think it means notes in circulation because RBI stores some notes for emergencies, logistics etc

And what about the national security risk giving this order to a foreign company ?

Or are you referring to when we can mint plastic notes in country some time in the future
No, Im talking about our country. We can easily print our own plastic notes if govt/RBI is willing. We already have good currency presses. We just have to install the new machines.[DOUBLEPOST=1556855769][/DOUBLEPOST]
Low score also means no marriage and no living in main cities, and living in outer cities with much less facilities, no one will marry person with low score

The call to that person will caution the caller that you are going to talk to a low score person and beware in that case
yeah ****ed up.
 

Crapmypants

Well-Known Member
Adept
Dec 13, 2014
854
322
76

"India still continues to be the fastest growing economy and demonetisation has had no effect on the Indian economy, Finance Minister Nirmala Sitharaman told the Rajya Sabha on July 2. "

I can't help but feel that this government cares more about what others think than what is actually happening on the ground.
 

nimod

Well-Known Member
Adept
Jan 7, 2013
609
338
102

"India still continues to be the fastest growing economy and demonetisation has had no effect on the Indian economy, Finance Minister Nirmala Sitharaman told the Rajya Sabha on July 2. "

I can't help but feel that this government cares more about what others think than what is actually happening on the ground.
So why so much money was spent for this `ineffective` exercise?
Why a national-crisis was created for this economically futile accident?
Why are we not holding anyone responsible?
 

ssslayer

Well-Known Member
Adept
Jun 30, 2006
429
136
131
Pune
So why so much money was spent for this `ineffective` exercise?
Why a national-crisis was created for this economically futile accident?
Why are we not holding anyone responsible?
Hush, are you even patriotic?
Go to Pakistan you traitor.
 
  • Like
Reactions: mh09ad5578

chiron

Well-Known Member
Veteran
Feb 8, 2006
1,564
376
172
Send FM to Pakistan too. How dare she deny the great benefits of demonetization? BJP winning the elections proves that demonetization was great for the country.
 

MuttonBiryani

Member
Disciple
Jun 2, 2019
7
11
6
So why so much money was spent for this `ineffective` exercise?
Why a national-crisis was created for this economically futile accident?
Why are we not holding anyone responsible?
To curb black money holders. If you really want black money that badly, then store it in foreign currency
 

abhi1984

Well-Known Member
Disciple
Nov 20, 2010
88
266
66
34

"India still continues to be the fastest growing economy and demonetisation has had no effect on the Indian economy, Finance Minister Nirmala Sitharaman told the Rajya Sabha on July 2. "

I can't help but feel that this government cares more about what others think than what is actually happening on the ground.
Over the course of last 4 months I have made a point to read at least 2 company's annual report each year. And I have yet to encounter a company which did not slow down in FY2016-17. Not even a single one. Here's something which I was just reading in Britannia's report:
"The slowdown in growth that started from the second half of FY 2016-17, continued for a good part of the FY 2017-18. Later half of the year saw growths coming back albeit on a base that was muted"

I can find such instances in all the 40+ companies I have looked at.

So Nirmala Sitharaman is full of shit when she tells that there was no effect.

Though RBI's assertion is also correct (article linked by @blr_p ). The article is also a good example of poorly researched article which fails provide in-depth knowledge. Thanks to RBI's actions MSME credit has grown in last 2 years and it is on the path to grow even more with TReDS.
 
Last edited:

nimod

Well-Known Member
Adept
Jan 7, 2013
609
338
102
To curb black money holders. If you really want black money that badly, then store it in foreign currency
All the 'carorpati' black money hoarders I know have converted their black money to White during demonetisation days.

Should I be thankful to the govt for this?
Post automatically merged:

And, Bajaj finance is also convinced the slow down is neither due to demonetisation nor due to GST.

 
Last edited:
  • Like
Reactions: mh09ad5578

MuttonBiryani

Member
Disciple
Jun 2, 2019
7
11
6
All the 'carorpati' black money hoarders I know have converted their black money to White during demonetisation days.

Should I be thankful to the govt for this?
Post automatically merged:

And, Bajaj finance is also convinced the slow down is neither due to demonetisation nor due to GST.

Ofcourse there will be a way out. If everyone starts being arrested for holding black money, then who will run the country and how will government win the next election? ‍Infact you should be happy that holding black money is even easier than before due to the newly introduced 2000 Rs notes. Before you needed 2hundred 500 Rs notes to store 1L Rs black money, now that number has been reduced to 50 due to newly introduced 2000 Rs notes
 
  • Like
Reactions: ssslayer