Black Money in India Predictions

[Rohit Jain]

I see a major loophole in implementation of this conversion. All banks have our KYC docs available with them. Also, our IDs are available with local mobile operator offices. Who can stop them from creating multiple copies of it and getting the notes converted from backdoor (off course with the help of bank managers and bank officers). Is there a check on this? I do not see any..

If this is not checked, I think government shall take a necessary action over it else this will be a waste of the entire exercise of the Government and the Indians who have white money and are standing in lines to make this decision of Government "a big hit".

[tara]

I also don't understand why 2000?
Imagine a person goes to medical shop and buys a medicine for 150 rupees what change back is expected? come on all 100 s 50s and 20s and 10s and 5s better not change in this denominator frnds. I support Modi with the new concept but 2000 will it not help the corruption crowd? and 2000 will it not create a hassle for common people, common people don't always have 2000 in hand for the matter of fact. Okay for argument lets say a common man has 2000 max a common man need is medicine or milk pack come on what change will be given back now with the shortage of 100s and lower denominator etc.

[Seetaram]

If anyone did not understand why ₹ 2000 notes came instead of ₹ 1000 and why new ₹ 500 notes delayed, search for 'Mehul Shah CA open letter' and understand how 'peak theory' fails with this new implementation.
or Read this...
I will not say corruption will stop in India from 2017, but atleast all corrupt money existing till now will either come to bank or burnt. Govt has anyway printed equivalent new currency.
So, if you could exchange through bank or RBI, you get back your cash, else it is already with govt and they can use it in 2017 budget.
A businessman or a common private employee can deposit cash, pay tax and get free.
Only a corrupt govt employee or politician cannot deposit cash as their career will also be finished with this.

Corruption will restart but at slower process and lesser rates. There will be constant fear in back of their mind that again these new notes may be demonitized anytime in near future.
social media (not paid angrez media) will report first corruption in 2017 and that puts breaks on others.
First good thing to happen was immediate freeze of fake notes.
Stone pelters in kashmir were paid ₹ 500 for throwing each stone on police and ₹ 1000 if that stone actually hits a policeman.
WHAT A JOB !!
You maid works for 1 hr at each home and maybe on 5-6 homes gets paid about ₹ 10000 per month.
A daily labour at construction site gets ₹ 500 at end of full day labor.
All that stone pelting has gone now ! Did you hear any street violence news in past week in kashmir or any maoist firing ?
There is no 'JIHAD' for religion. Only MONEY MATTERS... you pay ₹ 500 and i throw stone in name of azaadi, jihaadi etc crap.

Why would a politician or a rich guy ever stand in line for ₹ 4000 currency exchange.
All their expenses (politician) paid by govt and for personal stuff, they can send domestic helpers to banks and get exchanged.
They can use debit/credit cards. They can manage few expenses based on goodwill and understanding with seller and repay after banks release bigger amounts over withdrawls.

[msrhprasad]

seetaram garu ure 100% correct. most of the people views is the same.
only few corrupted parties ie congress, ysrcp making nonsense on the roads.
should appreciate Modi Ji for such daring step.
today his mother came in q and exchanged her old currency.

[Apparao]

This guy must have got smuggled pakistan printed ₹ 1000 notes to pay for stone pelters in kashmir.
Now he, along with his employers and employees are screwed 


Standing in lines for 2-3 hours for our own money is worth if such above problems are eliminated

[Shree]

Dear Seetaramji i agree with you on all points except for the article written by the CA. The method explained is extremely kiddish and illogical. and is written with a political intention.  Neither the bank, nor IT dept work in the way mentioned. There are some economists who have extremely well written and fact based articles. I found views of Dr Jayaprakash Narayan to be practical. https://chaibisket.com/lok-satta-jayaprakash-narayan-on-demonetization/.
My personal view was Govt should have introduced 200 rupee notes instead of 2000 rupee notes as higher denomination currency helps in hoarding.

As per RBI there were 16.5 billion '500-rupee' notes and 6.7 billion '1000-rupee' notes in circulation. This many no of notes are no longer valid and hence will take some time to get them replaced.
https://twitter.com/jamewils/status/797362683771318272/photo/1?ref_src=twsrc%5Etfw

I agree with you on all other points on terrorist financing etc. It had to stop someday .. why not today.

[Seetaram]

What else could be the reason to send ₹ 2000 notes and delay ₹ 500 notes till now ?
₹ 2000 wont change easily as next available denomination is ₹ 100 and that too in limited quantity.

But again i would say that corruption will increase from next year.
govt employee who asked for ₹1000 till now will demand ₹2000 and those bundles can be easily stacked up (ofcourse generating huge amounts of black money will take few years as all new notes will have to come through banks and circulate).

Few good things that happened in India since past week

• Traffic Police are not taking bribes from vehicle drivers on roads (maybe e-challans sent home for violations)
• Terrorists, Maoists etc are clueless and remained silent
• No govt officer is asking for a bribe now (maybe some other understandings outside office are happening)
• Banks are getting lots of money in deposits, which can help reduce loan rates from 2017-18 financial year
• More businesses/people are adapting to cashless life

[msrhprasad]

v.good info seetaram garu,
we are all support to such leader for Country...why this scam congress couldn't do such action past 60yrs...
now in India each and every thing seeing in political angle only...very sad...

[SaSirEkha]

The decision to withdraw legal tender of ₹500 and ₹1000 notes was announced around 20:30 on 8 november 2016 when Mercury was just about to enter Scorpio.
By the time it entered (around midnight), it was implemented.
Over 4 Lakh crores of ₹ deposited in banks all over India by sunday (13 nov).
This Mercury+Saturn combo in Scorpio will continue to expose and pull out more hidden currency atleast till 28 nov (merc leaves scorpio).
Next month will be lesser deposits and demand for more withdrawls (raising the cap).

25 January 2017, Saturn will join Mercury in Sagittarius, and that is when IT raids will increase on ppl who hid untaxed money in form assets, gold, diamonds, other investments, hand loans etc.
Feb-March 2017 is when Mercury in Aquarius is aspected by Saturn and most of the hidden wealth will be unearthed.
Some scams done by bankers, middlemen etc during nov-dec 2016 can also be exposed.

[msrhprasad]

SasirEkha ji,
good news,
now mamata and kejriwal & co gave ultimatum to the Govt. to withdraw its decision.
when the situation will be normalize?
and finally in which way it turns either positive or negative to Central Govt?