Its a Joke of the year 2016
People will deposit money into banks
then withdraw from bank
And then will follow the same process as it was before demonitization
Demonetisation and its Aftermath
- Thread starter psyph3r
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Its a Joke of the year 2016
People will deposit money into banks
then withdraw from bank
And then will follow the same process as it was before demonitization
The cash crunch is going to settle soon, especially the ATM Qs. The machines upgradation is almost complete and by March it should settle. Once the option to get 20-30% for new currency is closed it will be easier to get cash. That's why I gave example of Kerala where there is hardly any ATM Qs. Instead there's bigger Qs in front of govt liquor shops. (everyone has to stand in Qs for liquor because some people used drink and create ruckus in the streets, they're punishing the peaceful innocent drinkers).
I'm actually not satisfied by just reduction of ATM Qs, I'm more bothered about abolishing withdrawal limits. Business will return to normal once its done, which may take a couple months more.
I don't have access to Gadkaris ITR forms so can't really comment. AFAIK Kejrival made a big issue of it and lost a defamation case filed by Gadkaris and gave a written apology as per the directions of the courts. Most of his business was on the names of his aides (like drivers, peons etc) that's how he could get away with it.
By the way do you actually think Modi as MK Gandhi to prosecute his own colleagues to be abiding by the principles ? Don't go by the demigod build-up created by the bhakts, AFAIK he's a very practical and shrewd politician, significantly ahead of his competitors like Kejri, nitish and mamta at the moment. He's not as great as the build-up created by the bhakts, also he's not as bad as the image tarnishing done by the pseudoseculars. (I mean a person is not as good looking as his Facebook dp and not as bad looking as his Aadhar card pic). No politician could've survived such a poorly implemented policy in the current era. He's still going strong, which dwarfs every other leader in comparison. He could have just given speeches against black money without doing anything and he could've been elected for the second time, instead he chose to risk his political career (for a poorly advised policy) and much against the wishes of his own vote bank which is a remarkable thing and goes lot in his favor. I routinely deal with the situation he's in ;" if you do something you're doomed, doomed if you don't do it" and I tell you sticking to the decision inspite of all odds is an achievement. (now don't argue that MMS did not do anything foolish or that failed ; a person who tries to walk has the chance of falling, not the one sleeping, in fact Demonetisation was suggested in 2012 he conveniently ignored it).
The 30cr in bribe will be in old or new currency? It'll again have to come into the banking system to get exchanged and at least will have a chance to attract IT Dept attention and get taxed. The black money with legal sources of income can be adjusted to some extent, but still the government seems to be waiting for some soothing from Demonetisation issues before it goes all against the hoarders.
This idea of no innocent should get punished even if many criminals can get away has led to a very lax judicial system, there's no fear of judiciary. Instead if we employ a no single criminal will go Scott free approach (like the West where no one is spared) we may get a better law and order in the country. Its the first time we're seeing a fear of the government which was lacking all these years during upa regime. (I know the peaceful resolution of issues approach but practically only stick works in this country not the carrot).
BTW had it been a good decision if some other pm other than Modi had done it? Say Kejrival? He is equally impulsive, ill advised and temperamental as Modi. Part of his anguish stems from Modi hogging all limelight and Modi did some thing which he could have done better ? Most of the hate seems to stem because its implemented by a certain personality than about the merits and demerits of the policy per se.
For eg : there's no thread about compulsory playing of national anthem in cinema halls in TE because it was as per the verdict by the apex Court. There would have been a lot of hue and cry of freedom of expression discussions etc if Modi govt were to implement it instead of SC. I hope you are getting my pov.
I have posted details as well as links in this very thread. The scanned copies of affidavits filed by politicians before elections are made public on EC website. A false affidavit is an offense in addition to being grounds for disqualification. This is all public info. A proper implementation of the rules is all that is required, but its too much to ask for when the people themselves try to justify the corruption of politicians and protect them. There was a guy who was saying that it is fine for BJP politicians to hold black money since BJP is the only patriotic party in the country.
Rs 500 and 1,000 notes to be pulled out of circulation !
What you are saying is that Modi is just as corrupt and compromised as any other politician, but too clever to be apparent. I agree that it is true, but sorry that just makes him a sniveling weasel and there is nothing good about that. Many people including the non-fanatics see him as some sort of untainted saint who does not have any wealth and has no interest in wealth, but how many people know that that he has assets worth crores even as per his own self-singed affidavits. Who knows what kind of assets he has under the radar just like Nitin Gadkari.
So, the question is why pose as if he is a crusader against corruption and preach to people that 1000 people dying is a mandatory sacrifice when he is nurturing corruption in his own cabinet. A true leader leads by example and the example that Modi is setting is that people can be as corrupt as the want as long as they have the power and/or the means to circumvent consequences and the honest people just have to suck it up while the corrupt mock them.
For the record, when demonetization was suggested during the Congress rule, BJP was completely opposed to it saying that it won't solve the black money problem at all and even slammed it as anti-poor. So, how does a anti-poor policy suddenly change into a boon as soon as BJP is in the seat of power and it suits their own unknown agenda?
What makes you think that all that commission money goes into banks at all? What makes you think that it will it will remain in cash format for long, It has already been established by several credible sources including CBDT that black money in cash form is only a minuscule percentage of the black economy. Where is the rest? That is where all this amount will also go. Why was there such a rush in BJP to buy properties just before demonetization?.
In addition, there was absolutely no tracking of the old note deposits at least in nationalized banks at all and that is where most of the illegal exchanges have happened. In SBI, they were not even taking the declaration form to say that such and such guy deposited old currency. So, how does one track down the sources of the old notes at all?
Why do you think the police cannot just whip out a gun start shooting through people in order to catch a criminal who is running away while not caring who they hit? This is the principle that prevents the police from shooting you and everybody that comes in their way on the pretense of catching a thief. This is the principle that prevents the govt's from blowing up a plane or shooting up a building where 100 people are were taken hostage by a couple of terrorists. If you are such a fan of the stick approach, you should also be in favor of burning down the parliament since we know most of the people in there are corrupt?
Our judicial system is weak not because of the principle that innocent should not be penalized, but because the wrongdoers are not penalized enough even after their guilt is established. Punishments doted are so weak that it induces no fear of the law.
What makes you think that it would have been acceptable if anybody else has done it? BJP itself slammed demonetization as anti-people when they were in opposition. In fact, had congress done it just like BJP has done it now, do you think they would have survived to tell the tale next day? They would would have been fleeced alive for "selling out the nation" or on some other reason. So, why is it acceptable when BJP which is also filled with equally corrupt politicians and a corruption supporting PM does it?
Again the point for most people is not the demonetization, but the intentions behind the way it was implemented which makes it very clear that this never about any of the things they claimed. There is no way that people involved in the decision making did not foresee all these problems. There is no way that if this was indeed about black money, sufficient accountability has not been ensured and loop holes shut down. There is no way that these problems were adamantly blind-eyed and remained uncorrected for such a long time. If we are saying that PM, FM and RBI are so incompetent as to not have realized these things, we might as well have a bunch of monkeys running the RBI and Rahul Gandhi for PM.
I do not think this was missed even if there is no separate thread on TE and it wasn't quietly accepted either. There are people protesting against it too. Bad policy is just bad policy and it does not become any different just because of who implements it. For me, it is just another case of blatant abuse of power. On a side note, India probably has become the only unfortunate nation in the world that has to stand up and pay homage to the Queen of their former oppressor nation before they can watch a movie.
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Can you please explain this sentence only or am I misunderstanding it. I am unable to understand how standing up to national anthem is paying homage to queen of the former oppressor nation?
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There is a controversy around the intent of Jana Gana Mana. When it was first sung early 1900's, a large part of the country was under British rule and it was thought that it was a homage to the British crown (King George at the time). In fact, it reads just like that and the fact that major British occupied areas of India are mentioned adds weight to that. Even when I was in school and had no knowledge about the controversy itself, I always wondered why our national anthem sounded like was either praising India's former masters or made no sense at all.
At a later time, Tagore apparently clarified in a letter that a he was referring to a "God of destiny" and not to the British crown, but it is not apparent to anybody who just reads through it and tries to understand what it means. I really have no reason to doubt Tagore's intentions and it is mostly a veiled hit back, But still, for me at least, Jana Gana Mana totally reads like a homage to the British crown and no body would infer otherwise after reading through it and that is how a lot of outsiders also see it.
Such a controversial piece should probably not have been picked up as the choice for our national anthem nor at least not without tweaking.
Even if that controversy is left alone, our national anthem makes it sound like we are slavish and incapable of directing our own fate and always being controlled by somebody else.
At a later time, Tagore apparently clarified in a letter that a he was referring to a "God of destiny" and not to the British crown, but it is not apparent to anybody who just reads through it and tries to understand what it means. I really have no reason to doubt Tagore's intentions and it is mostly a veiled hit back, But still, for me at least, Jana Gana Mana totally reads like a homage to the British crown and no body would infer otherwise after reading through it and that is how a lot of outsiders also see it.
Such a controversial piece should probably not have been picked up as the choice for our national anthem nor at least not without tweaking.
Even if that controversy is left alone, our national anthem makes it sound like we are slavish and incapable of directing our own fate and always being controlled by somebody else.
sabby
ex-Mod
@Lord Nemesis Not sure where you got that idea ! It doesn't sound anything like a praise to Queen or the British crown.
sabby
ex-Mod
Forming opinion based on YouTube videos is not a good idea. I have read Anandamath ( in its original literature ) which is the source of the song "Vande Mataram" (not Matram). I am well aware of the contexts as well as the literal meaning of both the songs. While it is true that "Vande Mataram" is more passionate and the book Anandamath was banned as the british govt feared it would provoke the youth to revolt, it doesn't automatically make "Jana Gana" a song praising the british crown. Not many people know that "Vande Mataram" is our national song and "Jana gana" is our national anthem.
This controversy has been going on since a long time n maybe you never heard of it that's why you find it hard to believe.... just google Jan Gan Man + King George V to read more about it. The speaker in the Video Mr Rajiv Dixit also mentions about a letter by Rabindranath Tagore where he himself acknowledges the same.
I do not think it was written specifically to praise the British crown, but it was written to sound like it was praising the crown while actually meaning something else. But the problem is that very ambiguity. Below is a translation of our national anthem
Thy name rouses the hearts of Punjab, Sindh , Gujarat and Maratha,
Of the Dravida and Orissa and Bengal;
It echoes in the hills of the Vindhyas and Himalayas,
mingles in the music of Yamuna and Ganga and is chanted by
the waves of the Indian Sea.
They pray for the blessing and sing thy praise.
The saving of all people waits in the hand,
thou dispenser of India's destiny,
Victory, victory, victory to thee.
If somebody were to read this with the context that it was written in early 1900's and that the British crown was in control over the areas mentioned, what is the assumption that they would make. Who is the closest figure that comes to being a dispenser of India's destiny at the time it was written? Also, consider the fact that in olden days, songs/poems paying tribute to the Kings or Queens usually lay it very thick with praises and typically have format very similar to this. Its easy to mistake it for a tribute to the British crown.
But then again, let's assume for a moment it was written post independence and its clear that it is not referring to the crown, does the song make any sense just by reading through it and is there any reason why it fits the bill for being a national anthem?
Thy name rouses the hearts of Punjab, Sindh , Gujarat and Maratha,
Of the Dravida and Orissa and Bengal;
It echoes in the hills of the Vindhyas and Himalayas,
mingles in the music of Yamuna and Ganga and is chanted by
the waves of the Indian Sea.
They pray for the blessing and sing thy praise.
The saving of all people waits in the hand,
thou dispenser of India's destiny,
Victory, victory, victory to thee.
If somebody were to read this with the context that it was written in early 1900's and that the British crown was in control over the areas mentioned, what is the assumption that they would make. Who is the closest figure that comes to being a dispenser of India's destiny at the time it was written? Also, consider the fact that in olden days, songs/poems paying tribute to the Kings or Queens usually lay it very thick with praises and typically have format very similar to this. Its easy to mistake it for a tribute to the British crown.
But then again, let's assume for a moment it was written post independence and its clear that it is not referring to the crown, does the song make any sense just by reading through it and is there any reason why it fits the bill for being a national anthem?
chiron
Skilled
lol Modi said a whole lot of nothing in his address to the nation.
As far as the national anthem goes I'm guessing most here agree that it is silly and unnecessary to play it in theatres. Without any context and knowledge the history I used to think that the national anthem was referring to the people of this country and in that sense it is pretty good. imo a song that praises the people rather than the country is fairly apt. I remember listening to an interview of Chuck D talking about African-Americans use of the n-word as a way of reclaiming and redefining the word. We could very well think of the adoption of Jana Gana Mana as the national anthem as a similar kind of reclamation.
As far as the national anthem goes I'm guessing most here agree that it is silly and unnecessary to play it in theatres. Without any context and knowledge the history I used to think that the national anthem was referring to the people of this country and in that sense it is pretty good. imo a song that praises the people rather than the country is fairly apt. I remember listening to an interview of Chuck D talking about African-Americans use of the n-word as a way of reclaiming and redefining the word. We could very well think of the adoption of Jana Gana Mana as the national anthem as a similar kind of reclamation.
Those who started & fuelled this controversy have no or very little knowledge on the song & the composer. It would be better if these half knowledge persons do some more research & use their brains too. These guys are nothing but idiots comparable to the current govt. They think that only they are smart & people who made it our national anthem were idiots & had no knowledge of this.
Well yes there was some controversy (& maybe politics too) related to making vandemataram as our national anthem. But it was made as a song. Well lets not go into that.
Indian revolution for independence started from mid 1800s & tagore was the founder of brahmo samaj. He would never address any person (at least a britisher) as the supreme leader of india. Some media at that time was also @##% like today & made controversy out of a situation.
Most of the people in india no wonder were dumb then & now too that's why the british ruled us for around 200 years. These people who says it was addressed to the british king are the biggest hypocrites they are also termed as social justice warriors (SJW). Enjoying the freedom which came at a great cost & misusing it. People like these should be humiliated in such a way that... leave it these idiots have no self respect. I am also sure that these people will run first to hide their @$$*$ if another revolution for something good breaks out. These #$%^ will even sell themselves & this country to the enemies too. People like them existed before & exists now too. its better to ignore them.
Anyways here is complete brahmo song with translation https://en.wikipedia.org/wiki/Bharot_Bhagyo_Bidhata
Here is a good reply https://www.quora.com/To-whom-is-Indias-national-anthem-dedicated[DOUBLEPOST=1483345781][/DOUBLEPOST]
Well yes there was some controversy (& maybe politics too) related to making vandemataram as our national anthem. But it was made as a song. Well lets not go into that.
Indian revolution for independence started from mid 1800s & tagore was the founder of brahmo samaj. He would never address any person (at least a britisher) as the supreme leader of india. Some media at that time was also @##% like today & made controversy out of a situation.
Most of the people in india no wonder were dumb then & now too that's why the british ruled us for around 200 years. These people who says it was addressed to the british king are the biggest hypocrites they are also termed as social justice warriors (SJW). Enjoying the freedom which came at a great cost & misusing it. People like these should be humiliated in such a way that... leave it these idiots have no self respect. I am also sure that these people will run first to hide their @$$*$ if another revolution for something good breaks out. These #$%^ will even sell themselves & this country to the enemies too. People like them existed before & exists now too. its better to ignore them.
Anyways here is complete brahmo song with translation https://en.wikipedia.org/wiki/Bharot_Bhagyo_Bidhata
Here is a good reply https://www.quora.com/To-whom-is-Indias-national-anthem-dedicated[DOUBLEPOST=1483345781][/DOUBLEPOST]
If this person has read many poems better than gitanjali then we would like to know what are those? If this person had any credibility he should have debated with qualified people on national television.I don't think many people knows him too. People like these only good for youtube. He says "Nehru ji jo kehte the wohi sach mante the log" good then ab "aap bhi jo bol rahe ho sach kyun mane hum"??. False & wrong information spread by jealous people.
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y
Now if you listen to that person in the video it clearly shows how jealous he is on the composer & maybe on certain community. In one sentence he is praising swadesi in another giving example from BBC. Tagore's poem is not that easy to understand. Otherwise any tom dick & harry would have read it. Calling it average itself means that he understood nothing, IIT degree does not means you can understand everything.
Now let us accept that what that person in the video tells is 100% truth. Jana gana mana is dedicated to george V & he got impressed by it & gave him the Nobel prize.
Okay now think if that is true then there must be something very very extraordinary in that song that nobody in asia or in india did before so that he became the first non-European to receive it!!!
There are a lot of people like this in india & if people like this keeps on provoking the sentiments with false accusations then soon everyone will understand their real level & india will be nothing but a collection of different countries.
Most people in india will only talk & discuss nonsense & do nothing. Even today only Mamta Banerjee is shouting against modi. Kejriwal is another notable mention. Now even if somehow they succeeds & save the people of india from the stupidity of this present govt. Then everyone will reap the rewards but soon afterwards if the same people get a chance they will talk nonsense about them even doubt one or both of them were secret associate of congress. Since on this & this day Rahul Gandhi was sitting with mamta Banerjee & he bribed her xyz crores. I don't know if they are the fools or we are.
I am more impressed by the comment given by that last person in that link. It clearly shows that he does not know the actual facts (which many people don't know) & has nothing to comment on it & is honest in his comment. He also gives a good solution which he finds is the best.
Now if you listen to that person in the video it clearly shows how jealous he is on the composer & maybe on certain community. In one sentence he is praising swadesi in another giving example from BBC. Tagore's poem is not that easy to understand. Otherwise any tom dick & harry would have read it. Calling it average itself means that he understood nothing, IIT degree does not means you can understand everything.
Now let us accept that what that person in the video tells is 100% truth. Jana gana mana is dedicated to george V & he got impressed by it & gave him the Nobel prize.
Okay now think if that is true then there must be something very very extraordinary in that song that nobody in asia or in india did before so that he became the first non-European to receive it!!!
There are a lot of people like this in india & if people like this keeps on provoking the sentiments with false accusations then soon everyone will understand their real level & india will be nothing but a collection of different countries.
Most people in india will only talk & discuss nonsense & do nothing. Even today only Mamta Banerjee is shouting against modi. Kejriwal is another notable mention. Now even if somehow they succeeds & save the people of india from the stupidity of this present govt. Then everyone will reap the rewards but soon afterwards if the same people get a chance they will talk nonsense about them even doubt one or both of them were secret associate of congress. Since on this & this day Rahul Gandhi was sitting with mamta Banerjee & he bribed her xyz crores. I don't know if they are the fools or we are.
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I have mentioned it earlier also, that I presume every politician is corrupt unless proved otherwise (I mentioned here too on how a dictator is made) , of course the degree to which they're corrupt varies with the individual.
Only 2.4million have shown their income above 10L in the country. So we're corrupt from lower down the order, you've aptly mentioned it by a image in your previous post " corrupt Citizens deserve a equally corrupt political leaders in a democracy". Modi is not a exclusion to this rule, but that doesn't mean that I have any valid information to implicate that he's corrupt. The type of documents posted on the thread (and their acceptance as valid proof by most) accusing him of the personal corruption made me think of a bias against Modi.
BTW do you think that it is possible in a current sociopolitical situation, for a totally honest person to reach up to the level to lead the political party nationally and become a PM? I was momentarily happy when AK showed some promise, but he himself killed the revolutionary phenomenon he started. So we're left with choosing the best among the worst. You'd not get to vote between Trump vs Lincoln which is much easier ; instead against Clinton when Trump seems like a good candidate. Similarly AK seems a good choice for Delhi CM over Dixit. And Modi is a much better choice over RG, AK, M. Yadav etc for post of PM. So it doesn't matter from whom the effort comes its always welcome. How can we forget the most scam ridden government gave us RTI. Modi might be blamed for targeting opponents black money but they were the only ones in power for 10yrs recently. Someone else will be voted to clear BJP black money later. Though there will be other forms of black money but cash is a most easily interchangeable form. Controlling cash form prior to tackling other forms is a logical move.
Gadkaris most of the companies are registered under his aides names AFAIK, besides if it were to be such easily proven, opposition could've done it by this time. Otherwise what the opposition is good for? AK accused him on similar lines and couldn't prove it in court and gave a written apology as per the directions of the court. He'll be doing it again with Jaitley sometime soon.
Even in places where strictly not sparing of the offender is practiced police won't open fire like that which isn't right analogy, there's no fear of justice for civil offense because you can easily get away with one or the other clause meant for safeguarding the innocent.
BTW who's a innocent in this country? The ones who'll vote for the person who gives max bucks per vote? Thereby surrendering the taxpayers money to the hands of the most corrupt individuals? Last two months there's been an unexpected shortage of Labourers everywhere, much similar to the election season ; when all will attend rallies for 1k, bottle and Biryani and vote for person who pays highest? These are the same people who'll stand in Qs to convert stash at a commission. I don't think the government could've planned for corrupt bank officials siphoning the new notes and innocent people standing in Qs to convert others stash.
BTW the finance ministry has given a internal assessment (though I expected them to pat their own back) came up with numbers which shows the negative impact isn't as bad as its claimed.
The most important development is slashed home loan interest rates by 1%. Loans are getting cheaper and this is what was expected as a favorable outcome.
PM in his address safeguarded the drastically falling FD interest rates at least for the senior citizens which is quite welcome. They're anticipating things properly and delivering accordingly (also hiked true cash on delivery ~pun intended).
My disappointment with the Demonetisation scheme has been
1. Adding an Amnesty option later ; much like hindi movies where a rapist is married to the victims and call it a justice.
2. Though its too much to expect ; I was thinking Modi to announce no cash donations to BJP from now on, only cashless donations, to promote cashless future
3. He'd indicate a squashing on Gold and Benaami properties but mostly it will be another shock for us sooner
4. Of course much more transparency and people participation in next endeavor
You deliberately brought the queen praise controversy (popularized by right wing to push Vande Mataram against the wishes of pseudo secularism) to suit the argument in the first part, thankfully corrected it sooner, otherwise the simple question would have been "are you OK national anthem of your choice made to be played mandatory?"
Timing is the only thing correct about the verdict, yes I do have my reservation for the verdict.
With incidents like, a brazen anti-national sloganeering is done in premier Central University and tried to be covered up in the garb of freedom of speech ; people shameless enough not to show respect to the national anthem being played - this verdict has been timed pretty well.
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sabby
ex-Mod
@d33p Buddy, if you want to look for conspiracy, you can find it everywhere. Trust me on this, I was born and brought up in Bengal and read a lot of literature and history, that song does not praise British crown in anyway.
@Lord Nemesis That translation is not accurate but I don't really blame them, a lot of his literature are not comprehended even by native speakers of the language. Now whether it was a better choice to be our National Anthem, that's a completely different topic.
@uber I want to correct you there, Rabindranath was not the founder of Brahma Samaj, it was his father Debendronath
Anyway we are going off topic here, I want to say that I do not agree to playing our National Anthem before every movie - its a stupid idea that it would actually instill more patriotism to everyone. However, I absolutely agree to standing up whenever the National Anthem is played (except disabled/sick/pregnant ladies etc of course).
@Lord Nemesis That translation is not accurate but I don't really blame them, a lot of his literature are not comprehended even by native speakers of the language. Now whether it was a better choice to be our National Anthem, that's a completely different topic.
@uber I want to correct you there, Rabindranath was not the founder of Brahma Samaj, it was his father Debendronath
Anyway we are going off topic here, I want to say that I do not agree to playing our National Anthem before every movie - its a stupid idea that it would actually instill more patriotism to everyone. However, I absolutely agree to standing up whenever the National Anthem is played (except disabled/sick/pregnant ladies etc of course).
Corrupt people vote corrupt leaders into power. People in this country don't appreciate honesty. So, of course ************** get voted into power, but then, why the the heck do everybody pretend as if the new one is going to be any less of an asshole than the previous one.
One of the first impressions I got of AK was that he is devious and stupid at the same time and one of the most dangerous beings trying every thing to creep his way up the power ladder. Considering that he used corruption, caste, religion and spared no trick in the book, I don't see what you mean by "promise" at all.
If I really have no way to remove corruption from the equation, I would chose corrupt and incompetent over corrupt and devious.
The problem with your assumption is this whole fiasco didn't do a damn thing about corruption after all the cost, effort and suffering and its well known even before this was done. If anything, corruption has increased in several ways as I pointed out earlier. In fact, after this happened, there is rampart tax evasion going on at certain levels because of the expectation that IT dept is going to be too busy with stuff to even scratch their butt.
There isn't anything good about that. Only a few people in the country have home loans or have the eligibility to get home loans while on the other hand, a lot more people of all classes have savings in banks in form of deposits. Reduction in interest rates is going to help may be a few people who are getting new loans. But all the people with savings in deposits are going to be affected negatively. Also consider the fact that very few banks actually reduce the interest rates for existing borrowers while reduction in deposit interest rates is done promptly. For instance, I am still paying 10.3% interest on my home loan while I get 6.9% interest on deposits which is slated to go down even further to 6%. On top of that, I have to pay income tax on the interest effectively making it 4%.
To be honest, since a lot of money is banks, there is neither the means or the motivation to give interest on savings and deposits. Most likely, interest payment for savings and deposits will scrapped and there is also chance that negative interest will be imposed. i.e. a fee to the bank for the privilege of holding money in your account there.
What they are asking is that a person above 60 keep a large sum of their savings locked away in a single deposit for 10 years. What are they going to do if they need the money for an emergency? cancel the whole deposit, pay the penalty which is usually higher for large amounts? Do you know that banks also make it difficult for customers to cancel larger deposits mid term and even push customers towards taking a personal loan instead with their own deposit as the surety? If a senior citizen has 8~10 lac savings, its far better to invest it in the form of multiple 50k deposits even if its at lower interest rates. Of course this may be beneficial to senior citizens who have loads of money, but not to the average person.
What argument?Just to be clear, I have no choice of national anthem and I don't see any reason why playing of any song has to be made mandatory anywhere. As far as I am concerned, I see things like patriotism and nationalism no different than religious fanaticism. These kind of sentiments and thinking are all just anomalies from the animal roots of humans which intelligent and strong minded people use to control and rally them, but don't need themselves. So, I just said that our national anthem makes for a poor choice for the purpose its intended for.
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