On demonetisation:
Nov 8th, 2016
😥
http://www.huffingtonpost.in/apoorva-pathak/10-reasons-why-bjps-demonetization-move-is-an-unmitigated-and/
Nov 8th, 2016
PM is live with this news. Get rid of your 500 and 1000 rupees denomination currency notes asap, last date Dec 30th. Uncertain how will we transact in cash..Although I rarely use cash.
I just withdrew Rs 10000 half an hour back
😥
This is a great move to curb black money and to stop fake currency coming from across the border. Biggest positive move after GST bill. Congratulations Modiji.. Chha Gaye
Nov 13th, 2016
Today's experience - it was business as usual at two eateries I visited. At both places "old" notes got accepted without any fuss. Two other general shops were willing to accept if we bought anything.
Wondering what their plans are
🤔
🤔
(in last five days I could dispose off big notes worth 7000 towards expenses, some of which I otherwise would have paid through plastics).
Nov 14th, 2016
So who else is leaving his family to become Buddha?
Nov 15th, 2016
My initial reaction as a layman was appreciating this move on so called " demonetisation". But listening to experts I am becoming more and more " suspicious" of the results.
http://www.huffingtonpost.in/apoorva-pathak/10-reasons-why-bjps-demonetization-move-is-an-unmitigated-and/
Another expert speaks..you simply can't brush them aside.
http://www.huffingtonpost.in/2016/11/09/heres-what-raghuram-rajan-thinks-of-currency-demonetisation/
Nov 18th, 2016
अराजकता is the word.
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Pratap Bhanu Mehta is an academic, a political scientist, who was a Professor at universities like JNU, NYU, Harvard amongst others and is now a researcher and a President at Centre for Policy Research. Here is his take on the subject that has engrossed/consumed the country at every level since last 10 days.
Rise above the politics and listen to his expert opinion. He says in the article:
"Investigative energies are best concentrated elsewhere. But in any case, you get more than a sense that this whole chain of events will now be a pretext to bring back a Seventies-style domination of punitive tax imagination on citizens. As always, it is not directed at specific big targets, but indiscriminately in a perverse equality: The Jan Dhan account holder and Vijay Mallya on the same plane."
http://indianexpress.com/article/opinion/columns/demonetisation-politics-cashless-economy-you-have-been-warned-4379388/
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What Bill Gates said on demonetisation
as quote in HT
“I don’t know enough,” says Gates on the demonetisation of Rs 500 and Rs 1000 notes..
"I arrived in India and saw long queues at ATMs at the airport. I was told, that’s demonetisation! That’s all I know,” says the 61-year-old technocrat and philanthropist who co-chairs the Bill and Melinda with his wife Melinda.
And What "the Hindu" said
A day after he described Prime Minister Narendra Modi’s November 8 decision to withdraw 500 and 1,000 rupee notes from circulation as a “bold move”, billionaire businessman and philanthropist Bill Gates said on Thursday he had “no opinion” on the issue.
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He is however upbeat about " digitisation" a subject he has expertise.
Lets be clear demonetisation is not digitisation.
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on Nov 22nd
rivileges that the majority of the country at these tough times even elites of the society don't get - managed to deposit all the cash that the family was hoarding Rs 7500 to my account and withdrew the allowable allowance Rs 24000 all in less than an hour. Thanks to the care that banks like HSBC provides to its customers and thanks also to "my relationship manager" for topping it up with a cup of coffee and some investment advice.
Wow! I don't remember withdrawing so much money from my account..but hold on, I am not hoarding..this will get distributed to four others who refrained or were afraid to stand in the day long queues.
But the bigger question still remains, are the daily wagers managing their meals for the day?
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Nov 23rd
लो कर लो बात। जाली नोटों का धन्धा शुरु हो गया। In addition to this report a young man in Virar, near Mumbai, was also caught using a photocopied note of Rs 2000. There was another incidence of a photocopied Rs 2000 note given to a vegetable vendor in Chikmangaluru, Karnataka a couple of days back.
How do you plan to tackle this in the country full of smart but crooks? There are many gullible, illiterate people who will fall prey to them.
A terrorist killed yesterday also was found to be in possession of Rs 2000 notes, not fake though.
So where are we moving with the agenda?
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On Nov 24th
I have been watching the opinions and counter opinions on demonetisation. Supporters of the government's decision have been so vocal in criticising the opposition of the idea that they have no time even to go through what people are saying. They also are using foul and filthy language for the former Prime Minister and many other people who command respect in their respective areas of specialisation, especially economics.
Does one keep such people in deference who don't even know what language to use for people including some women in a civilised world?
Let's listen to the well known economist who understands the subject more than any of us. Please understand that he and many other economist have never objected the idea behind demonetisation, it is only the implementation part that they are concerned about.
Those in favour also say that suffering is a " necessary" part of the process.( suffering at this scale for this long?) majority of these people posting their views on FB in favour and feel that suffering is "good" I wonder how many of them have talked to people who are suffering and who have no or little money to even run their day to day chores. Have they ever talked to your maids, cook, Watchman, rikshawwala, driver, painter, Carpenter, Kabadi, dhabawala, Dhobi, tailor or mochi since the morning of Nov 9th? I have, and unequivocally each one of them said s/he is suffering from the process.. They don't even care if the coffers of government are full or empty they are first concerned about their meals for the day. Every citizen is not a freedom fighter, they never were even when the country was struggling with British ouster. So many of them were Raj supporters and sycophants and still they are equal citizens today.. Some having more privileges than many who fought and suffered.
Can and should you ignore all such people who form the majority of our country? Shouldn't you show concern, compassion for them? Shouldn't they be kept in mind first before taking/ making such decisions.
Do you think those who decided the roll out of the current demonetisation and their supports have better understanding of economics than the experts and practising people be them in politics or academia.
For God's sake be respectful and listen to experts even if they have contradictory views before you maintain your own views, for reasons best known to you.
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on Nov 26th
And you thought Muhammad Bin Tughlaq ruled India only once?
http://www.huffingtonpost.in/2016/11/10/in-a-plot-twist-govt-to-introduce-new-1-000-notes-with-enhance/
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A word of caution. Think and gloss over carefully before reacting. Harish Khare is first a seasoned journalist and then an ex-media advisor.
He says in the referred article " The very arbitrariness and the resulting chaos are being sought to be palmed off as “worth the pain” because prime minister Modi “means well”."
http://thewire.in/82547/demonetisation-modi-stalinism/
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Why charity does not begin at home first? Simple answer is as long as you could create a bhakt samaj and hypnotised them to think you are the most honest on the earth, what is the need to...
इस हमाम में....
http://www.livemint.com/Politics/Imlr2Tnu7dwLoxeikK1XXK/Political-parties-are-sitting-on-a-pile-of-cash-they-dont-w.html
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Nov 30th
Ain't Mastercard, Visa and e-wallets biggest beneficiaries of the move besides ofcourse all other financial institutions mostly the banks?
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In a debate on NDTV going on as I write Nalin Kohli says 70 years of Congress rule is responsible for unpreparedness.
It's a grave insult to our Army that has protected the country and won three wars over the time. If there is a failure now it is due to lack of understanding of preparedness and lack of leadership at all levels. How long are we going to let our armed forces men die and keep blaming what happened in past. Let me also tell me Mr Kohli a) it has not been 70 years yet, b) besides Congress other parties including BJP also ruled this country for over 13 years, c) spend time analysing the lacunae in the system and increase preparedness rather that praising and taking credit over and over the great surgical strike that had no effect on the enemy.
The big question now is - are we safe in the country? Can we do something to STOP the next attack? Nagarota is the third large scale operation that has shamed us after Pathankot and Uri since January 2016, less than a year.
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Dec 01st
Pankaj Mishra is a literary person of repute and has no known political inclinations. Let's listen to what he says about the current chaotic situation that the country is facing. In his article he says:
"Soon after plunging India into chaos, he left for Japan, where he exhorted his countrymen to learn from the Japanese. Indians, he urged, should come together and make national interest paramount, just as the Japanese had in the aftermath of the devastating 2011 earthquake and tsunami."
https://www.bloomberg.com/view/articles/2016-11-29/modi-s-rupee-ban-is-part-of-plan-to-remake-india
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This is brilliantly explained. Yes, it's your money, get it if you can.
(Banana on the dashboard video)
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Madhavan is a seasoned journalist. Here in this article he is asking some basic questions on the effects of demonetisation and rolling out of cashless economy in India.
One of the questions is :
" How will intermediaries make money?
High-end merchant establishments and hotels may love credit/debit cards but milkmen and vegetable sellers don’t. They have to become electronically literate and then pay charges to accept cashless deals. But why should they? What is the incentive? The current rush to go cashless is based entirely on the cash squeeze caused by the “surgical strike” demonetisation. The current waiver of charges by mobile wallet companies is temporary. When the dust settles, every intermediary needs to make money with valid reasons. How is the government going to address the ecosystem issues?"
High-end merchant establishments and hotels may love credit/debit cards but milkmen and vegetable sellers don’t. They have to become electronically literate and then pay charges to accept cashless deals. But why should they? What is the incentive? The current rush to go cashless is based entirely on the cash squeeze caused by the “surgical strike” demonetisation. The current waiver of charges by mobile wallet companies is temporary. When the dust settles, every intermediary needs to make money with valid reasons. How is the government going to address the ecosystem issues?"
Let's listen to him, before you jump into the discussion on the subject.
http://tech.firstpost.com/news-analysis/demonetisation-cashless-india-is-a-big-dream-here-are-6-hard-questions-for-niti-aayog-350773.html
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Dec 3rd
This is indeed a great idea for the next Academy Award . Thrill, love, romance, action and much more. Likes of Steven Spielberg could punch in much more.
cations trying to find cash....they decide to get engaged only to be able to withdraw 2.5 lacs each for the wedding but finally fall in love for real ...
climax Indian wedding scene with elaborate Manish Malhotra costumes and punjabi dances to be shot on top of Qutab Minar....
😆
climax Indian wedding scene with elaborate Manish Malhotra costumes and punjabi dances to be shot on top of Qutab Minar....
😆
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Bank of India - 500
ICICI Bank - 300
SBBJ - 150
Central Bank -50
IDBI - 50
ICICI Bank - 300
SBBJ - 150
Central Bank -50
IDBI - 50
These are not today's sensex/ nifty quotes. This was the number of people in the queue at the doors of these banks waiting to get into the bank ( of course banks are not serving lunch there).These banks came on my way when I went for mundane work in the local market within 1.5 km of my house. There are about 15 other banks in the vicinity and traffic was standstill due to the queues there that I didn't venture to see. Some of those are HDFC bank, YES bank, Kotak Mahindra Bank, Axis Bank, Indian Bank, SBI, Bank of Baroda, PNB, Indian Bank, Andhra Bank and others within a striking distance besides twice as many ATMs. People were a good mix of lower class and middle to upper middle class types by their looks.(apologies to them for judging their status)
Lucky are my friends in Bangalore, Mysore and Chinnai ( and elsewhere in the country) who and many others who are privileged to find no queues and finished their work in less than 10 minutes.
I am no exception to the privileged class having been banking with HSBC since past 21 years.
Those who wish to verify lengths of these queue are most welcome to visit the locality as these queues are unlikely to vanish in the near future, at least Saturdays would be as crowded.
Jai ho!
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My day started talking to people as early as 8.30am when the car cleaner/washer came to collect keys. Since today is the 3rd day of the month I asked him how should I pay his monthly wages since I have no cash ( all I am left with is one LARGE Rs 2000 note and his payment is just a fraction of that)? The response was " give me next month sar". I asked him if he has a smart phone and has heard of paytm. He showed me his phone for me to check if it was " smart". Well, it was a blackberry curve, indeed the smartest phone five years back but unfortunately blackberry had/has no app for e-wallets. Nevertheless I explained him how convenient it would be for him to go cashless with an android phone even in the range of Rs 3000-4000.
The same story got repeated with the bag repairer and the barber. Who all looked convinced with the advantages of e-wallets and promised that next time I visit them they will have the smart phone.
I was happy to find my small electronics repair shop, vegetable vendor and milk booth were accepting paytm e-wallet.
So much for the mega city people who have different degrees of literacy and some cash in pockets to somehow afford a smart phone ( for some it may be two weeks wages). The question is what will happen to the illiterate lot in the far flung areas who neither have money for a smart phone or a feature phone, knowledge of language nor any connectivity. Over half the population in the country falls in that category.
May God help them.
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Dec 4th
यथा राजा तथा प्रजा.. But hold on..thanks for bringing everyone to begging and appreciating the use of technology.
Our Prime Minister was heard saying and people burst into laughing..
à¤ाईयों और बहनों.....तालियां.
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“I don’t know how far it is true but there is a video going viral on Whatsapp of a beggar being told by a man that though he wanted to help, he does not have change,” Modi told at BJP’s Parivartan Rally in Moradabad. “The beggar asks him not to worry and takes out a swipe machine and asks for his debit card,” the Prime Minister said as the crowd burst into peals of laughter.
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“I don’t know how far it is true but there is a video going viral on Whatsapp of a beggar being told by a man that though he wanted to help, he does not have change,” Modi told at BJP’s Parivartan Rally in Moradabad. “The beggar asks him not to worry and takes out a swipe machine and asks for his debit card,” the Prime Minister said as the crowd burst into peals of laughter.
http://indianexpress.com/article/india/go-digital-even-beggar-using-swipe-machine-pm-modi-in-moradabad-4408716/
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In the man-made chaos that is leading to the end of "kalyug" there is still some happiness left for which you don't need cash "immediately". (The maali has graciously extended credit to us.)
According to the mythological theory of Dashavatar the tenth incarnation of the Lord Vishnu is Kalki - destroyer of filth.
Quoting Wikipedia
Kalki ("Eternity", or "White Horse", or "Destroyer of Filth"), will be the final incarnation of Vishnu, foretold to appear at the end of Kali Yuga, our present epoch. He will be atop a white horse and his sword will be drawn, blazing like a comet. He is the harbinger of end time in Hindu eschatology, and will destroy all unrighteousness and evil at the end of Kali Yuga.
We have now found the Kalki who is filth destroyer and who has started his campaigns like " Swatch Bharat" and "demonetisation - for clean currency/cashless. Leading to the end of Kalyug by leading us to doom's day and transiting the world back to Satyug.
Jai Ho!
(album of terrace garden)
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Fellow human beings now forgetting humanity that was taught to them over centuries for their place in the queue at ATM.
What a tragedy of life. There is so much social imbalance and disharmony in the society since November the 9th when housewives who saved some money for rainy day, hiding from their husbands, ( and every household where wives are full time home managers and had no other source of income, did that) had to have the wrath of husbands and a label of untruthful, untrustworthy.
So the chaos has been extended to majority of households in the country where the social fabric lay destroyed.
Jai ho!
(Picture of a dead man lying in front of an ATM 60kms from Kolkata. - TOI)
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आपको नोट चाहिये .. ये लीजिये।
Of the Rs 14.6 Lac Crores ( approx US$ 200 billion) in circulation for which RBI had given promise ( as promissory note) Rs 9.9 Lac has come back as deposits and there are 27 days left when more could be deposited in the banks and then there are another 90 days left to ( make a story and justify) deposit in RBI.
So if everything comes back to RBI where is the black money? Whether the so called black money hoarders or the commoners, everyone finding a way to get rid of their money back to the coffers of RBI.
The billionaires lost nothing and learnt new ways and techniques to launder and poor common man who constitute 70% of the population have lost the peace, wages and some of them even their lives. The growth engine of the country, in the meanwhile, has come to a halt apparently dipping GDP by 2% or more, as some economists have predicted.
Any remorse?
(Pic of a news item showing Rs 9.9L Crores - TOI)
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Of course there are no queues in the heaven if you make it there
(Pic of a news item "I have started a queue to end all queues - PM )
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