Demonetisation and its Aftermath

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seshu said:
^ IMO, Congerss Party can always have a senior member to act as a PM to run the show !
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Not going to happen...what do you think happened in the 10 years of Congress rule? MS was a silent spectator to all the crap that was going down. There was only one power center and we all know who it was.
 
mav2000 said:
Not going to happen...what do you think happened in the 10 years of Congress rule? MS was a silent spectator to all the crap that was going down. There was only one power center and we all know who it was.
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All of which could have been avoided had Indians had behaved maturely and not raised such a hue and cry over Sonia's foreign origins and let her become PM.
 
letmein said:
All of which could have been avoided had Indians had behaved maturely and not raised such a hue and cry over Sonia's foreign origins and let her become PM.
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I am politically agnostic.

But to this day, I never understood why they made such a big fuss. She is as Indian as everyone else. This is a country where a politicians say, I will rule from Jail or rule from kitchen etc.
 
m-jeri said:
I am politically agnostic.

But to this day, I never understood why they made such a big fuss. She is as Indian as everyone else. This is a country where a politicians say, I will rule from Jail or rule from kitchen etc.
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Hypocrisy is what we're best at. And then we celebrate when an Indian origin person gets elected to office in the US, Canada or the UK.
 
letmein said:
Indian origin person gets elected to office in the US, Canada or the UK.
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letmein said:
All of which could have been avoided had Indians had behaved maturely and not raised such a hue and cry over Sonia's foreign origins and let her become PM.
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Difference is they were born in those countries which makes them eligible to hold office, I don't think there's any country that allows emigrants to hold key positions so why should we be an exception.
 
letmein said:
All of which could have been avoided had Indians had behaved maturely and not raised such a hue and cry over Sonia's foreign origins and let her become PM.
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What good is that gonna do in this particular case. I am all for it if the person in question is qualified, but that is not the case here. You only have the look at the present state of the party and how a person's selfishness has all but completely destroyed it. If she can't keep a party from falling apart, how is the country going to be any different. If the end result is the gradual destruction of this country, I would rather that a person who people recognize to be of this country do it rather than a foreigner just so that people can't use those lame excuses of shifting the blame to some other country or person.
 
Lord Nemesis said:
^^ It is not necessary to be born in the country. They just need to be a citizen.
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AFAIK they have to be a natural born citizen in most countries to be eligible to hold the highest office and understandably so because an outsider is bound to be perceived to be less loyal to the nation and won't end up being elected anyways.
It's also a matter of national security in this age of espionage especially when there's clear evidence that the US has toppled several democratically elected governments and placed puppet leaders in their place over the last 7 decades.
 
letmein said:
All of which could have been avoided had Indians had behaved maturely and not raised such a hue and cry over Sonia's foreign origins and let her become PM.
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Are you freaking joking.....???

Wow...and then we wonder what is wrong with this country.
 
Some more madness: Next big move by Modi? Bank cheque facility may be withdrawn to push digital transactions, says CAIT official

A senior functionary of industry body CAIT today said the Centre may withdraw the bank cheque book facility in the “near future” to encourage digital transactions. Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal said the government needs to encourage use of debit and credit cards. “In all probability, the Centre may withdraw the cheque book facility in the near future to encourage digital transactions,” he said. Khandelwal was talking to reporters at the launch of ‘Digital Rath’, a joint initiative of the CAIT and Mastercard to encourage traders to adopt different modes of digital transactions and promote cashless economy. The CAIT secretary general said, “The government spends Rs 25,000 crore on printing of currency notes and another Rs 6,000 crore on their security and logistics. “Moreover, banks charge 1 per cent on payments through debit card and 2 per cent through credit cards. The government needs to incentivise this process by providing subsidy directly to the banks so these charges can be waived.”
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Why the actual hell is he pulling stuff even developed countries with less than 10% of our population are not doing?
 
Mr.J said:
Why the actual hell is he pulling stuff even developed countries with less than 10% of our population are not doing?
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I think the idea is Indian system have to leapfrog many stages. So perhaps a shock therapy of sorts?. Rest assured, not everyone will survive it.

I do want India to move away from cash. First steps should be to have a free and accessible electronic cash transaction system. Then comes a steady viable communication system to support this or proper viable internet connection for all.
And important of all, it needs to be communicated and educated properly. Not a shock. Well, even GST was implemented poorly. So not sure what advance notice would do.

Visa, Discover, Mastercard monopoly needs to erode/eradicated in India.

Anyways, I know nothing of Finance or Economics. Stupid person I am.
 
^ the govt is trying to penny pinch themselves. Printing money costs a lot of money & effort. You may have noticed that our printing presses are not that good with quality of notes. Plus they need to devote more time and resources to stay ahead of counterfeiters. According to latest intelligence reports in some newspapers, already 40% of the security built into the new notes have been copied. Even the intelligence agencies had a hard time figuring out the genuine from fake. Plus the notes get torn /faded/etc in 4-5 years of use. That means they have to spend 25000 crores or something like this every 4-5 years. With rising inflation, they have to print even more currency and this leads to even more inflation since value of money has gone down. You see the cycle here?

So some guy came up with idea of using digital currency. It costs nothing to make. Besides a one time cost plus maintenance and security, you can just add any amount of currency to the chest since its all digital. Instead of carrying notes and coins you just carry your cc card or a new payments card and use it. I've heard news that the RBI is thinking of adding crypto currency and calling it Laxmi coin or something like that, but its all in the thinking stage now.
 
Making people cashless is the running wet dream of many a govt across the world because it give the govt's absolute control over people and enable them to control every aspect of their life and democracy and freedom will be made extinct. No more possibility of dissent when people have no financial freedom and have to keep themselves on the good side of the govt at all times in order to be even able to access their own savings. No more freedom to protest if govt wants to take whatever they want from your earnings and they won't even need your consent. The big difference is that in every country people are resisting such advances while in India there are enough stupid people willing to give away their and every bodies liberties on a silver platter just because they are deluded into thinking that they are not giving away their own liberty and that they will have nothing to lose.
 
6pack said:
^ the govt is trying to penny pinch themselves. Printing money costs a lot of money & effort. You may have noticed that our printing presses are not that good with quality of notes. Plus they need to devote more time and resources to stay ahead of counterfeiters. According to latest intelligence reports in some newspapers, already 40% of the security built into the new notes have been copied. Even the intelligence agencies had a hard time figuring out the genuine from fake. Plus the notes get torn /faded/etc in 4-5 years of use. That means they have to spend 25000 crores or something like this every 4-5 years. With rising inflation, they have to print even more currency and this leads to even more inflation since value of money has gone down. You see the cycle here?

So some guy came up with idea of using digital currency. It costs nothing to make. Besides a one time cost plus maintenance and security, you can just add any amount of currency to the chest since its all digital. Instead of carrying notes and coins you just carry your cc card or a new payments card and use it. I've heard news that the RBI is thinking of adding crypto currency and calling it Laxmi coin or something like that, but its all in the thinking stage now.
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Digital currency is not that free I guess if you keep in mind the rock solid security you need to implement across the whole transaction chain.
And keeping these servers and POS systems updated with the latest security patches is not at all easy and inexpensive.
I am not even thinking about zero day exploits in this case.

If previous sarkari IT attitude with the Adhaar security issues is anything to go by these systems might be hacked and you will be penniless in the blink of an eye.
 
Govt organizations don't even get the security compliance they demand from private banks. They completely get bypass regulations and they let their vendors do that too. For instance UPI integrations were required to have PCI-DSS compliance. However BHIM app was rushed to customers without PCI-DSS or any sort of security standards compliance. There were many issues in the app and the systems which were exploited and there were people who lost money because of this app. I am still not sure whether they have obtained the compliance now or not.

Recently, the govt seems to be trying to forcefully push the BHIM app on customers by asking nationalized banks like SBI to install the app on customer phones. Apparently, banks branches were given installation targets to meet. Last week when my mom went to SBI, the employee behind the counter there asked for her phone and installed the SBI flavor of the BHIM app saying that its mandatory. It was not even installed from Playstore since I could not find it installed programs list and I had a bit of trouble to get rid of it.
 
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