Demonetization has Failed?

#1
I saw Forbes article which says demonetization has failed.

Forbes Welcome

Somehow I don't agree to that. But when I see overall money which RBI had expected and what they received now has huge difference.

I mean they expected few lakh crore will not come (because it is black), but seems RBI got wrong?

What you people think?
 

ramkasi

Active member
#2
The dead line of 50 days is fast approaching only 10 days left,

because

the whole process started initially as fight against black money only [then took several names including digital India, cash less economy then less cash society]

My view is it should be seen as only fighting against corruption because all the other names associated with the move later DOES NOT NEED THIS KIND OF surprise MOVE OF MIDNIGHT DECLARATIONS and respected P.M saying a life threat because of the move

If the Govt. manages to corner 2 to 2.5 lakhs with this midnight announcement I will consider this as a great achievement otherwise..............

I wonder why the govt. [state and center] does not send volunteers to dispatch money to above 60 age seniors at their homes.

I am not against anybody at present and waiting to come to a decision after 11 days only.

ramK
 
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ramkasi

Active member
#3
If the Govt. manages to corner 2 to 2.5 lakhs with this midnight announcement I will consider this as a great achievement otherwise..............



I am not against anybody at present and waiting to come to a decision after 11 days only.

ramK
SBI says about this

Demonetisation: Rs 2.5 lakh crore won't come back into banking system, says SBI - Firstpost

Will have to wait because the test [50 days] is over and the results [final figure] yet to be announced

Meanwhile BJP-NDA now seems to project themselves like Robin Hood style to attract poor people which are larger section [ heard in news debates that some amount will directly deposited in to some accounts]

I am really disappointed about the honorable P.M. jees speech about EVM [one more subject they deviated from when they are in opposition]

I am not speaking against any body personally, all about party - standards only .
 

Atiker

Active member
#4
SBI says about this

Demonetisation: Rs 2.5 lakh crore won't come back into banking system, says SBI - Firstpost

Will have to wait because the test [50 days] is over and the results [final figure] yet to be announced

Meanwhile BJP-NDA now seems to project themselves like Robin Hood style to attract poor people which are larger section [ heard in news debates that some amount will directly deposited in to some accounts]

I am really disappointed about the honorable P.M. jees speech about EVM [one more subject they deviated from when they are in opposition]

I am not speaking against any body personally, all about party - standards only.
I guess Modi ji doesn't want to do a replay of 2004, he doesn't want to repeat same mistakes as ABV ji.
He knows 2014 is history, more than repeating 2014 he fears 2004, would try his best to avoid 2004 at all cost.
 

ramkasi

Active member
#5
Note-ban gains may just be Rs 72,800 crore, says Motilal Oswal - The Economic Times

One report says only 40,000 crores not came back :mad:

Still no official stmt. from govt side after one month of demonetization....if they achieved what they wanted from this midnight statement ,they would have announced the blackmoney amount on 51st day itself I think/guess

I thought at least 2-3 lakh crores won't comeback and poor will get a direct benefit from that money

What happened to bjp election promise of bringing back lakhs of crores from outside India in 100 days :mad:

I heard that a report submitted to honorable modijee recommended to impose a tax if more than 50,000 withdrawal from banks.

This means I have to pay double tax for the same amount. I pay tax and deposit the remain money in bank and if I withdraw that money later for urgent need I have to pay tax for the same money twice :mad:.
 
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San Yad

Active member
#6
I heard that a report submitted to honorable modijee recommended to impose a tax if more than 50,000 withdrawal from banks.

This means I have to pay double tax for the same amount. I pay tax and deposit the remain money in bank and if I withdraw that money later for urgent need I have to pay tax for the same money twice :mad:.
I read that only 10 lakhs total amount withdraw or deposit in a year then only banks will send those accounts to tax office notice. After that you might get letter from tax dept. for explanation.

50k is not a big amount to withdraw. But how you to withdraw 50k as there is still limit of withdrawal?

I think banks have not lifted the daily withdrawal limit to unlimited yet.

Happy Investing!
 

ramkasi

Active member
#7
50k is not a big amount to withdraw. But how you to withdraw 50k as there is still limit of withdrawal?

I think banks have not lifted the daily withdrawal limit to unlimited yet.

Happy Investing!
sanyad bhai I am referring to a report submitted with future course of action

the weekly withdrawal limit may be hiked in future if the interim report accepted

I am keeping liquid money 3x more than b4 demonitization for my needs for next 3-4 months. I don't mind losing minuscule interest that bank pay to my deposit.
 
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