paarkhi
Herald
Encouraging Cashless economy is only in theory and not in reality, Theory and reality are 2 different things. something like this http://timesofindia.indiatimes.com/...asthan-only-on-paper/articleshow/56365851.cms
Demonetisation and its Aftermath
- Thread starter psyph3r
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I had a different experience. I paid online (around 583 no discount or anything) and the cylinder came after 2 days. Guy didn't ask any money and just asked me to sign on the receipt. They usually take Rs10-15 extra when taking cash and this time he couldn't ask. (He was twitching a bit while trying to think whether to ask for money so I paid him 10 bucks and he left happily).
I just got overcharged by a known shopkeeper for 80 rupees. All the trust he had built up vanished just like that. I'll buy from Amazon pantry now onwards or go to a local mall a few km's away from me. It will take me ~ Rs100 to and fro but I know I wont get back stabbed like this. Plus option to pay with credit card and get some points while I'm doing so.
In my case, he apparently demanded like its his birth right even after my mom said that she didn't have change and didn't leave and had the gall to ask to pay in cash from next time. If that's not bad enough, the worse bit is that he demanded the Rs 5 that was meant to be the discount. If I had been home at the time, I would have probably flayed the hide off of his back and put it in his hand.
In any case, I raised a complaint with the agency and they were horrified by the audacity of the guy and promised action.
dafreaking
Herald
^So happy with piped gas the last 5 years. Dreading going back to cylinders.
This cashless thing is BS. A lot of vendors have smartened up and since the margins on FMCGs is quite low have decided to charge the 1-2& on card/wallet transactions. The big stores don't as yet (thank f)
This cashless thing is BS. A lot of vendors have smartened up and since the margins on FMCGs is quite low have decided to charge the 1-2& on card/wallet transactions. The big stores don't as yet (thank f)
To push digital transactions, Modi government lines up measures to discourage large cash use
Awesome days are coming...
Awesome days are coming...
Yes I also agree that it is one of the worst ideas to make national anthem mandatory in a movie theatre. Its also somewhat equivalent to insulting it. Imagine the situation of those who went to watch soft porn. I also think people should have strongly opposed this nonsense idea. I still don't understand how this idea got approved.
Anyways situation is still bad today almost most of the ATMs giving only 500 & 2000 rs notes. Many of them also runs out of money pretty fast. BS cashless economy.The real question is
HOW MUCH BLACK MONEY DID THE GOVT acquired by this dumb mission?
hotshot05
Guide
From 1st week of Jan 2017, banks have restarted charging for each transaction via Debit/Credit card (this is why Petrol pumps were threatening to go on strike). So I don't really blame the dentist for charging 2% extra on CC payments. That is what he has to pay for each transaction.
How will the government know how much cash we are keeping at home? (Referring to 15 Lakh limit on Individual cash holding)
dafreaking
Herald
The credit card companies always charged 2-4% to the merchant on transactions. Debit card charges are newer I think.
hotshot05
Guide
When they waived off the card payment charges, various news outlets had mentioned that the MDR for debit cards were around 1% while that for credit cards are higher and around 2%.
There is no new charge as far as I know.
chiron
Herald
They will be tracked with the GPS chip in the banknotes. The assertion that there is no gps chip in the notes is a hoax to fool the black money hoarders.
I think it's pretty feasible, not for a GPS/RFID chip, but maybe the 2K notes have some magnetic ink/strip so that if you have a large number of notes in a bunch then perhaps it can be detected from a distance using some form of radar device thanks to the larger amount of "reflective" magnetic material in one place. Not kidding, I really think it's possible 
Makes me wonder some of the news reports how police caught people moving stashes of new notes on multiple occasions.
Makes me wonder some of the news reports how police caught people moving stashes of new notes on multiple occasions.
hotshot05
Guide
With the kind of electronic devices that we have in our home, doing such a thing will be pretty challenging. Also if people are concerned about mobile tower radiation, I believe such a device will cause even more radiation. You are sending a sweeping radio signal which is going through many people's body.I think it's pretty feasible, not for a GPS/RFID chip, but maybe the 2K notes have some magnetic ink/strip so that if you have a large number of notes in a bunch then perhaps it can be detected from a distance using some form of radar device thanks to the larger amount of "reflective" magnetic material in one place. Not kidding, I really think it's possible
Also such an item would have been patented and printed in research journals by anyone who is able to build it.
IT dept, police have lots of informers. They already know who is doing what but most of the times cannot act because they have no hard evidence or their political masters are preventing them from doing anything. These 50 days were a free for all period. And with people accumulating all their hidden money, made it easier to bust these guys.
But compared to the number of corrupt people that we have, the number of busts were minimal. Either they only publicised the big fish only or they did not consider the smaller fish as a priority. The smaller guys who were caught were associated with much larger fish and paid the price.
GPS requires some sort of power to run. Power = battery. Notes will become like 10-15mm thick with a battery in them.
RFID is good only till few feet (about 3-5 ft). So I don't think the notes have any rfid or gps in them. Hell, these people cant print the MG on it properly, they aren't going to waste time printing any circuit in a piece of paper. imo, they're too stupid to think so hifi anyway.
Magnetic is not possible since even a piece of aluminum foil will kill the magnetism by some amount. An iron case will look magnetised and so also cooking utensils which have magnetic bottom.
RFID is good only till few feet (about 3-5 ft). So I don't think the notes have any rfid or gps in them. Hell, these people cant print the MG on it properly, they aren't going to waste time printing any circuit in a piece of paper. imo, they're too stupid to think so hifi anyway.
Magnetic is not possible since even a piece of aluminum foil will kill the magnetism by some amount. An iron case will look magnetised and so also cooking utensils which have magnetic bottom.
This was like December 2016. And can the not bake that 2% in their billing model. At least for professionals like doctors. Rather than charge overhead.
hotshot05
Guide
Why will they?
Whatever they take via card, they have to declare as income while filing tax. So here you have two negative points - give discount on fee, show this as income in ITR and pay 10-30% as tax. So there is no incentive at all for them to bake the MDR into their fees.
So is it like: --maybe this is incorrect, so you can tell me.
INR 1000 invoice
INR 20 CC charge @ 2%
INR 300 Tax to GOI @ 30% (tax on 1000)
Left with INR 680
OR:
INR 1020 invoice
INR 20.4 @ 2% CC charge
INR 306 Tax to GOI @ 30% (tax on 1020)
Left with INR 693.6
Will this not work..? It seems he / she will make a better profit adding in the CC charge. Weird.
But what many doctors / dentists do:
INR 1020 invoice (which is bogus and invalid, the bill has no TAX details)
INR 20 CC charge @ 2%
INR 0.00 Tax to GOI @ 30% (do not declare)
Left with INR 999.60
It is that habit of not declaring income and wanting to keep 100% of what they have dutifully earned but billed the customer 2%. It is like, I am not even going to pay the GoI tax, nor will I pay a utility transaction fee.
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hotshot05
Guide
Not sure what you wanted to say.
Your calculation shows that he has more profit if he charges Rs.1000 + Rs.20 (as CC charge) rather than charging Rs.1000 (including Rs.20 as CC charge)
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