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GENERAL DISCUSSION => Politics & Issues => Sensex & Stock Market => Topic started by: Ravi Varma on November 09, 2016, 12:08:23 AM

Title: Black Money in India Predictions
Post by: Ravi Varma on November 09, 2016, 12:08:23 AM
Terrorism at its PEAK !!
...
Black Money will be curbed within India. New higher notes can come. Thailand can smuggle fake currency through sea.
...

(https://s18.postimg.cc/6cbecez5l/black_money.jpg)

I guess the latest decision to ban Rs 1000 and Rs 500 currency notes in India is because of 2 urgent reasons (untaxed money rotation in India is least reason here)
Reason 1 : Huge amount of fake currency caught in a ship that landed on Indian coast recently.
Reason 2 : Terrorists in India are being funded by this black money and some part if printed outside the country (fake currency)

If fake currency is not stopped with immediate effect, Indian economy will collapse in 2017.
Title: Black Money in India Predictions
Post by: Anoo on November 09, 2016, 12:41:55 PM
What are ppl doing with their existing ₹ 500 and ₹ 1000 notes.
If someone has declared it under Income Declaration Scheme, which ended on 30 sept 2016, they are safe after paying tax.
Others are caught in a web :-X :-[ :( :o
Title: Black Money in India Predictions
Post by: Varenya on November 09, 2016, 01:12:54 PM
If you have not declared cash before 30 sept, you can deposit in bank accounts now and pay tax in april 2017 (but you have to show source of income).
if you cannot do that or have huge amounts which cannot be disclosed, then do this  8) :D
(https://www.govtnaukries.com/wp-content/uploads/2016/11/500-1000-peanuts-moongfali-roll.jpg)
Title: Black Money in India Predictions
Post by: Shree on November 10, 2016, 01:04:42 AM
How much black money is in form of cash ? People who have black money have invested in gold, real estate etc and wouldnt be hoarding cash (unlike its shown in 1970 bollywood movies). People who earn black money are shrewed people and would invent some fake schemes to get out of this. Already some commission agents are converting old to new currency with 20% cut.
Title: Black Money in India Predictions
Post by: LEO on November 10, 2016, 06:55:06 AM
If you have kept some cash at home for daily needs, fuel, shopping, payment to maids, drivers, auto/cab commuting etc, then it must be in thousands and you need not worry.
You can deposit it in your bank account and withdraw ₹ 100 notes or use debit cards.
Any amount <= ₹ 2,50,000 is okay. Anything above that is taxable (according to existing slab rates)

If you have few lakhs (suppose 5-10 lakhs) at home or in form of loan given to someone and getting it back in ₹ 500 or 1000, then better deposit in account and pay tax as per existing slab rates :
Income from Rs 2,50,000 – Rs 5,00,000   - 10%
Income from Rs 5,00,000 – 10,00,000 - 20%
Income more than Rs 10,00,000 - 30%
Surcharge: 12% of income tax, where total income exceeds Rs.1 crore.

suppose you have 10 lakhs cash, 2.5 lakh can go to bank account without any worry. For the rest 7.5 lakh you need pay 20% tax which is 1.5 lakh, and you can use total 8.5 lakh legally.
This is better than paying 20% to commission agents and creating more black money again. (unless you have too many lakhs or crores stacked up)

There are 2 main targets behind this announcement.
1. to stop fake currency sent from across border to sponsor terrorism and disturb economy.
2. to permanently eliminate money saved in huge amounts, made through corruption. this is mainly targeted at big political parties, politicians, builders, benamis, movie financiers etc.
Spending cash in elections will stop now. Banks have limited ₹ 100 notes, thats why the cap of 4000 per person per day is imposed for conversion and even cap on ATM withdrawls is imposed.
In sept, one dosa bandi wala declared 50 crores in income tax declaration scheme. Whose benami is he ? or did he really make 50 crores by selling dosas on street ?

The move will definitely hit con-grass who built India based on corruption for 60 yrs. UP, Punjab elections will be interesting.
anyone shouting foul or unable to sleep since last 2 nights is having stacks of ₹ 500, 1000 notes

All political parties, politicians etc keep huge cash ready for maintaining party workers, bribing ppl, election campaign etc.
Title: Black Money in India Predictions
Post by: msrhprasad on November 10, 2016, 06:06:15 PM
Good Info. Leo  :)
 and very daring step taken by Mr.Modi, then why congress is crying? such worse party ruined country with corruption.
and what about block money in foreign countries? shall we get it ever in future?
if congress comes in power by god curse :-X, it never come to India.
Title: My First ₹ 2000 note
Post by: Virinchi on November 10, 2016, 08:52:03 PM
My first ₹ 2000 note, which i got from bank today morning  8)
(https://s12.postimg.cc/e1mi07hct/Rs_2000.jpg)

Did not understand the logic behind printing higher denomination currency.
In future it would be easy to stack up piles of ₹ 2000 notes easily, but maybe after 5-10 years.

It would be better if paper currency is kept to ₹ 100 or less and any bigger transaction done through cheque/DD/NEFT/RTGS/IMPS etc
This will stop corruption
Title: Black Money in India Predictions
Post by: Star Dust on November 11, 2016, 07:23:52 AM
₹ 2000 notes will be given only through bank withdrawals, not through ATMs (also their size is not compatible with current ATM trays) and also they will be less in circulation.
So, banks and RBI can keep a track of how many were drawn and how many spent or in circulation. If there's mismatch, then it can be understood as ₹ 2000 notes being stacked up somewhere by someone and in future, they can be demonitised in similar way, when it becomes an issue or fake ₹ 2000 notes are again printed and circulated in excess.

I think the present decision will make every small vendor and worker open a '0' balance bank account and most retailers can also get a business/current account along with a card swiping machine.
Over a period of few yrs, when ppl get used to plastic money or online transactions, then next POA can be implemented.

But the immediate effect is corrupt politicians like Y.S.Jagan giving away 2 x ₹ 500 notes for each 5 x ₹ 100 notes or new ₹ 500 notes at their party offices.
So in this way, they are still making 50% of their unaccounted cash and stacking it up.
UP and Punjab elections are first target and congrass which has highest amount of black money will suffer
Title: ₹ 2000 Scam !
Post by: Paanchajanya on November 13, 2016, 07:11:31 PM
Did anyone see a bigwig, a politician, a police officer, an MRO, collector, builder stand in a line outside bank/ATM to exchange ₹ 4000 old currency or withdraw ₹ 10000 ?
(except for RaGa who came for selfie publicity).
They are getting ₹ 2000 notes directly through backdoor and without any obstruction, exchanging old notes.
All those who deposit ₹ 2,00,000 or above in their bank accounts till Dec 30th will lose LPG subsidy from january 2017.
More to come...
Title: Black Money in India Predictions
Post by: Rohit Jain on November 14, 2016, 09:20:15 PM
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..
Title: Black Money in India Predictions
Post by: Rohit Jain on November 14, 2016, 09:36:53 PM
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".
Title: Black Money in India Predictions
Post by: tara on November 15, 2016, 01:32:26 AM
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.
Title: Black Money in India Predictions
Post by: Seetaram on November 15, 2016, 07:45:30 AM
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... (https://zeenews.india.com/news/india/explained-how-rs-2000-note-will-curb-black-money-gujarat-cas-open-letter-to-arvind-kejriwal-breaks-internet-must-read_1949522.html)
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.
Title: Black Money in India Predictions
Post by: msrhprasad on November 15, 2016, 02:13:57 PM
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. :)
Title: Terrorism in Kashmir stopped by Black and Fake Money blockage
Post by: Apparao on November 15, 2016, 09:56:55 PM
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  :D
(https://s13.postimg.cc/m1ab9q0uv/kashmir_terrorist_Rs1000_notes.jpg)

Standing in lines for 2-3 hours for our own money is worth if such above problems are eliminated
Title: Black Money in India Predictions
Post by: Shree on November 16, 2016, 11:10:00 AM
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.
Title: ₹2000 note helps Black Money in India
Post by: Seetaram on November 16, 2016, 06:20:06 PM
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
Title: Black Money in India Predictions
Post by: msrhprasad on November 17, 2016, 10:36:52 AM
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...
Title: ₹500 Notes available now - Black Money in India Predictions
Post by: SaSirEkha on November 17, 2016, 05:55:19 PM
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.
Title: Black Money in India Predictions
Post by: msrhprasad on November 17, 2016, 06:04:14 PM
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?
Title: Black Money in India Predictions
Post by: Vaani on November 17, 2016, 06:14:01 PM
Situation is abnormal only for khujliwal, Blackamata, Fekhilesh, Pappu etc who have loads of  ₹500 and ₹1000 notes stacked up.
Why does one person need more than  ₹2500 in a day from ATM and ₹24000 in cash form in a week ? Cant you live cashless and let other poor guys (without bank account or ATM knowledge) exchange their currency in banks.
You were given a sunday bank working day too for cash withdrawl on  ₹10000.
Those who still complain about limits on daily withdrawls are those who are unable to live without black money.

Now, a family which has wedding this month, can withdraw  ₹2,50,000 from bank.
If you want to perform a BIG FAT GEEK SHOWOFF wedding, then GET LOST !!

P.S : Did someone tell jayalalithaa that her ₹500 and ₹1000 notes are now invalid ?
Tell her now and get them into bank, else she may slip into coma after 30 december
Title: ATMs with Cash in India - Search
Post by: pallavi on November 17, 2016, 08:35:51 PM
Use this site (desktop or mobile) ATM Search (https://atmsearch.in/), enter your location and Search ATMs nearby (updated daily/hourly by users about cash/no cash info and crowd details)
Title: ₹2000 note helps Black Money in India
Post by: abhideswal on November 18, 2016, 08:54:20 AM
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.


I strongly feel that Rs. 2000 note is a temporary solution.

It wouldnt be possible to replace the currency in 50 days even with the Rs. 2000 note and hence the limit on withdrawal amount.

I hope they take this note out of circulation after everything normalizes because earning black money is a constant process and big denomition notes only helps its case.

Infact they  should not bring out any Rs. 500 note either.
Title: ₹2000 fake notes will come soon...
Post by: Anoo on November 18, 2016, 06:55:45 PM
Saturn flip-flops between jyeshta-moola in April-October 2017 and Jupiter comes back to Hasta during 15 April  - 03 August 2017 .
During these periods India will undergo more economic reforms. After these periods, fake notes of ₹2000 can come up.
Better withdraw these big notes which can ease corruption and keep highest currency as ₹100 or bring a new ₹200

USA managed with $100 bill for so many years and never printed anything higher
Title: Black Money in India Predictions
Post by: LEO on November 19, 2016, 03:34:13 AM
If fake currency problem is coming back, then what BIG has India achieved by this demonitization ?
₹2000 should be withdrawn after 2016-17 financial year completes.
The idea of ₹200 note looks better.
Title: ₹500 Notes available now - Black Money in India Predictions
Post by: Rohit Jain on November 19, 2016, 10:08:35 AM
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.
Thank you SaSirEkha ji for such detailed analysis.
I wish most of the unaccounted money comes out. However, there is a big question, whether this step of government (demonetization) will be successful.  Based on the time of announcement, can senior members pour their thoughts in.
Title: ₹ falls further compared to $
Post by: Nivedita on November 19, 2016, 01:03:51 PM
Is this prediction coming true ??
INR will fall further down in end of 2016.
Almost close to 70 Rs per 1 USD
US $ is now ₹68.15

is this demonitization effect ? Will ₹ stabilize after december?
Title: Black Money in India Predictions
Post by: Shree on November 20, 2016, 12:17:01 AM
Hi Nivedita,
Actually theoretically demonetisation should lead to appreciation of Rupee as reduced supply of Rupee should appreciate it. But there are other factors which are going against Rupee.
Due to global economic slowdown investors are putting their money in Dollar  assets. Also demonetisation will lead short term economic slowdown in India so investors are pulling money out of India. Higher inflation in India is another factor for depreciating rupee. Not sure on Astrology but economic prediction is Rupee will depreciate further in 2017 & 18 to reach 75/76 per dollar.
Title: Black Money in India Predictions
Post by: SaSirEkha on November 21, 2016, 10:27:35 PM
About 5.15 lakh crores deposited in banks + 33,000 crores exchanged over counter.
So, total 5.5 lakh crores of ₹500 and ₹1000 notes withdrawn from system within 11 days.
RBI estimates 9 lakh crores worth of total ₹500 and ₹1000 notes in circulation.
More than 60% of that was either deposited in bank and can be withdrawn in future in new currency or exchanged already.
I think out of remaining 40% , only 10% will come to bank and rest 30% (3 lakh crores) will be destroyed as the persons holding them cannot disclose that much volume and also source of their income.
Most of that 30% is with politicians, govt authorities, real estate goondas etc.

But RBI will be printing new notes equivalent to 9 lakh crores, so govt is in a profit of 3 lakh crores straightaway.
Also, tax+penalties will be collected on bigger deposits+benamis.

Still 39 days (34 days infact, as 5 sundays non working of banks) left and lets see how much comes out.
Title: IT notices for ₹2.5 lakh or above cash deposits
Post by: DCP on November 22, 2016, 04:43:34 AM
Income Tax department is sending notices to those who deposit ₹2,50,000 or above in cash on or after 10 november 2016 and if their previous transactions/income does not match with these cash deposits.
(https://s12.postimg.cc/9u20jy4zh/IT_notice.jpg)
Title: ₹ at 68.8 per $
Post by: pallavi on November 25, 2016, 07:07:50 AM
No exchange of old currency from today. Only deposits and atm/self-cheque withdrawls, or NEFT/card swiping/RTGS/mobile banking/payTM transactions.
₹ dropped to 68.8 per $ yesterday. (other factors too have effected)
Soon can cross 70...
Out of 14 lakh crores worth ₹500 and ₹1000 notes, banks got deposits of 6 lakh crores so far and are expecting 3 lakh crores more by end of december.
Rest 5 lakh crores will be govt profit, for which equivalent ₹2000 and ₹500 notes already printed.

For the first time in Independent India, there can be zero deficit budget and from april 2017, bank interest rates will come down.
Title: ₹11.5 lakh crores deposited in Banks till date
Post by: Apparao on December 08, 2016, 07:33:48 AM
Close to ₹11.5 lakh crores out of estimated  ₹14.5 lakh crores of cash deposited in banks till last night. [total could be close to ₹16 lakh crores, but already ₹0.7 lakh crores in depsoits and ₹0.8 lakh crores with RBI]
With 18 working days remaining for banks in this month, one can expect another ₹1.5-2.0 lakh crores to come in..

So, the exercise of demonitisation will leave central govt with a profit of ₹1 lakh crore.
Taxes collected at 50% rate from some accounts could be around ₹3 lakh crores. [not every ₹ deposited post nov 8th is black money]
So, the total would be ₹ 4 lakh crores profit and elimination of counterfiet currency + elimination of terrorist & maoist + election funding for some time.

How many months will it take for corruption to restart at full scale and for ppl to stash up ₹2000 bundles ?
I think it won't take much long as Saturn+Mercury are playing games from early to mid 2017.
Also, Jupiter has no aspect on Saturn, which makes it easy for them to find ways...
Title: Black Money in India Predictions
Post by: Srikanth on December 08, 2016, 10:41:44 PM
Forget about demonitisation.. If lobbying/betting/gambling is made legal in India (as predicted by Virinchi that it will happen soon) then this site can open a daily page for predictions and make lot of money
Title: Black Money in India Predictions
Post by: Shree on December 09, 2016, 12:23:44 AM
Any money deposited with the Bank is a liability to the Bank, in this case to the RBI and consequently to the Govt. So if the amount of deposits is more than currency in circulation, it means that Govt has to pay the depositors more than what they were earlier liable to pay and hence its a loss to Govt.  So it will be a big loss if deposits become more than the currency in circulation.  All assumptions on 3-4lakh crore of money not coming back has gone for a toss.

Now how can deposits become more than currency which was in circulation.
1.  If RBI has double counted some deposits i.e. it counts the deposits by customers in their banks and also counts interbank deposits on the same money
2. If fake currency is deposited in the banks

Due to the confusion even RBI has stopped daily reporting of the deposit amount, which shows that even RBI is not equipped enough to handle the mess they have created along with Political bosses.

How much cash deposited is black money and how much tax will be collected ..only time will tell. All big thieves are associated with one or the other political parties, who are escaping easily. Janardhan Reddy and Gadkari spent spent hundreds of crores on daughters wedding .. will they be caught ?
Time is all powerful.

regards
Shree
Title: Black Money in India Predictions
Post by: Srikanth on December 09, 2016, 10:55:56 AM
Interests on savings accounts are on average 6% p.a
That means for 12 lakh crores of deposits, banks will have to pay about 6000cr interests p.m
So interests for these 2 months could be 12000 cr but assuming at least 25-30% of deposited money comes as tax+penalties govt makes good profit..
Now it will be headache of banks(especially private) to give more loans and also recollect them with interest from next yr.
Title: Elections 2017 : Black Money in India Predictions
Post by: SaSirEkha on December 10, 2016, 08:35:47 AM
Even though intention behind demonitization was right, if cash crunch is not managed by next month, BJP can lose state elections in UP to   ͜ʖ yadav.
In Goa and Punjab their coalition can win
Title: Black Money in India Predictions
Post by: Virinchi on December 12, 2016, 06:08:35 PM
Few Bankers are trying their level best to fail Modi's idea.
Very few have realized that ₹2000 note is a trap !
HDFC, ICICI, Axis Bank were given more new currency and ₹100 notes, compared to nationalized State Banks etc.
But only SBI etc are regularly filling their ATMs and giving cash through withdrawls.
ICICI etc always have no cash board.
Next year, many bank managers from those private banks will be arrested by CBI
Title: New ₹20, 50, 100 notes and coins of ₹100, 150, 1000
Post by: Virinchi on December 14, 2016, 12:43:10 PM
These are the new 20, 50, 100 notes coming up in 2017.
(https://s23.postimg.cc/qshnhwptn/new_20_50_100_notes.jpg)

Also, coins for 100, 150, 1000 are coming up
(https://s23.postimg.cc/pe9h9eg0b/new_100_150_1000_notes_coins.jpg)

not sure how authentic these are, but looks good for a complete replacement of existing currency, after ₹2000 gets withdrawn

Title: Black Money in India Predictions
Post by: LEO on December 15, 2016, 12:53:25 AM
Does look like plastic but if has enough security features to prevent counterfieting, then useful.
More than replacing every note, rules should be passed like :
1. No body can hold cash of more than ₹1,00,000 at a time.
2. Cash deposits in bank should not be more than ₹50,000 at a time and not more than ₹1,00,000 in a month.
3. All transactions above ₹10000 should be done through banks.
Title: Black Money in India Predictions
Post by: Ravi Varma on December 20, 2016, 09:35:54 PM
Everyone complaining about difficulties since past 6 weeks, should know that, this decision of demonitization was taken due to a SCAM done by UPA government.
The agency which got contract to print Indian currency, had actually printed 2-3 duplicate notes of ₹500 and ₹1000 each and congress party leaders stashed it.
They were using it for elections, funding terrorism, maoism, dharnas, bandhs, rallies etc.
This duplicate note printing was revealed by FBI in USA during 2011 itself, but UPA-2 govt did nothing to stop it.
They only tried to replace ₹500 notes printed before 2005 with new notes and also brought in their duplicates ! Same note, with same serial number had 2-3 copies in cirulation !!!!
Pakistan printed fake notes were hardly 3-4% in total currency. These desh-drohis did more damage
Title: Congress gifted ₹36 lakh crores to corporates during UPA rule
Post by: JayTee on December 25, 2016, 09:33:24 PM
Bad loans during UPA regime jumped by 132 per cent as the Congress gifted a whopping Rs 36 lakh crore to corporates during their tenure by waiving their loans.
This gift of ₹36 lakh crore is the actual economic robbery and Gandhis should be thrown in jail permanently for this.
This much money sanctioned in loans and got waived, means those who got benefitted from them can live their entire life doing nothing and also their next 4-5 generations can live super rich in India, without doing anything !!!
Ambani, Adani are few among those who got benefits
Title: Black Money in India Predictions
Post by: Ravi Varma on February 08, 2017, 10:49:02 PM
RBI to raise cash withdrawl limits from all savings accounts to ₹50,000 from 20th feb and unlimited from 13th march.
This will allow many to withdraw cash and again circulate as they did in past. Black Money will come back in new currencies.

Also, banks are pressurising RBI to print currency quickly and remonitise all that was withdrawn in nov-dec 2016.
Banks dont want to keep cash, as they have to pay quarterly interests (from this AY) and It is impossible to give so many loans.
Earlier when banks had only ₹70,000 cr , it was easy for them to handle but still few banks struggled with recoveries.
Now with more than ₹15,00,000 cr (which is 20 times more than what they had before 8 nov 2016), banks want you to withdraw and spend in cash.
Else, they will be forced to give loans to non-elgibile people and most of them will turn defaulters again.

Attempt to make cashless India failed
Title: Black Money in India Predictions
Post by: SaSirEkha on March 02, 2017, 07:25:03 PM
Almost 3800 years back Chanakya mentioned in his book Artha Sastra : When a person pays more than 5% of his income as tax, he will start hiding money from government
So, atlast one Indian government brought the minimum income tax to 5% and anyone making 500,000 or more (i.e more than Rs 41,666  and less than Rs 83,332 per month) pays 5% (and that too after deductions and exemptions).
This is much better than 25% minimum to 97.5% maximum tax imposed by Indira Gandhi, to create black money in India.
Only by eliminating Income Tax completely and following UAE way, India can stop black money in future.
Else, cash will be withdrawn from 13 March and story will be same.
Title: Black Money in India Predictions
Post by: Shaka on February 10, 2020, 06:41:46 PM
Today this matter was vanished from base and no one will discuss about this matter. And elections also won through emotions not any economical and general reason will stand. It continue upto 2029. After that generation only concern about what matter is important