Demonetisation and its Aftermath

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This is a perfect excuse for them to withdraw the 2000 notes as well. The ultimate goal may be NIRP, but steps along the way include removal of all higher denomination notes. All this really means is more headaches for the common man.
 
^ Them some mighty strong knees man !

Glass is really hard to break without a sharp object.
 
Lord Nemesis said:
There is no cash in any ATM in Hyderabad for last few weeks.
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Forget ATM even banks do not have enough cash. Nov- December scenes back in action.

I think only way to get back the hidden thousands crores is ...

Modi coming out and saying now that We're thinking of banning ₹ 2,000 and ₹ 500 notes and then tell them its a joke on April 1st. :D

6pack said:
I read in yesterday's TOI online that some guy went around smashing glass panes of 2-3 ATM centers with his knees after getting frustrated because of this.
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True that. Some dude was fined by cops and the traffic cops didn't have POS with them and insisted on cash. So he roamed around 10's of ATM in this heat and broke it. No penal charges were enforced on that dude.
 
swatkats said:
I think only way to get back the hidden thousands crores is ...

Modi coming out and saying now that We're thinking of banning ₹ 2,000 and ₹ 500 notes and then tell them its a joke on April 1st. :D
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Seriously though, they will most probably demonetise the 2k notes eventually. Any country's demon exercise is primarily to get rid of high denomination currency. Like the US doesn't want people to use anything above $20. So there's little chance they'll let the 2k notes continue.

Unless of course, this was all a great big sham, and the only reason they withdrew the old 1k and .5k notes was to break the backs of the opposition, which they succeeded in reality. In which case, now the 2k notes are a great option to store their black money even easier. People who don't easily fall for BS and with enough common sense can figure out which is which...
 
swatkats said:
Just to point out..


As on January 27, notes in circulation, comprising all denominations including Rs 2,000 and Rs 500, were Rs 9.92 lakh crore, RBI Deputy Governor R Gandhi said on February 8.
Actually, New denominations are worth Rs 6.78 Lakh crores.

So 15.44 (old) - 6.78 (new) = Rs 8.66 Lakh crores of Cash deficit in the market.

Clearly one can notice that deficit if you are mainly doing transactions in cash. :D
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Currency in circulation 30% short of pre-demonetisation levels, shows RBI data

RBI data shows currency in circulation in India at Rs 12.45 Lakh crore as on 10 March, which is 30% less than the 4 November 2016 figure of Rs 17.97 Lakh crore. Although the pace of remonetisation was quicker in the week to 10 March compared to the two previous weeks, currency in circulation is still at about 70% of pre-demonetisation levels.
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http://www.livemint.com/Industry/W9...ation-30-short-of-predemonetisation-leve.html
 
Have you guys seen the ads asking people to use less cash and switch to electronic payment methods? it would make sense if the transaction charges were reduced (and more importantly the POS machines were more widespread)
is it just me or this move along with the minimum balance requirements and the limit on transactions at both atms and bank branches seem a bit much (especially for people on fixed income)?
 
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