Showing posts from November, 2016

DeMonetization Thoughts.....!!

As the demonetization slowly sinks in Brain started to think in Multiple ways.

First thoughts on Demonetization. 
1. Awesome, everyone having heavy amount of hard cash should be punished.
2. Hope the black component of the property transactions reduces substantially.
3. Finally proud of having all Money which I have paid Taxes for.
4. The fake money is going to be killed.
4.So if 500 Rs and 1000 Rs were the reason for Black money then why introduce a 2000 Rs note which will cause the black money to grow again after some time.

After a few hours. 
1. The big fish that the PM claims are hoarding black money won't just have cash. They will have Gold, Property and foreign currency.
2. The government still has not incentivized the transaction which we do on cards, like petro Surcharge on CC and Debit cards.
3. Oh my god ~80% of cash is in 500s and 1000s you will have a shortage of 100s and lower denominations. Who will give me change for 2000 Rs now??

After a Day. 
1. Was this decision mad…

What to do with your 500 and 1000 Rs notes

What to do with your 500 and 100 Rs notes??

1. Deposit old notes of Rs 500 and 1000 in banks or post offices between November 10 and December 30, 2016. 
2. Those who are unable to, can exchange notes till March 31, 2017 at specified RBI offices after furnishing proper declaration. 
3. There will be an initial limit of Rs 10,000 per day and Rs 20,000 per week on withdrawal of money. This limit is to be increased soon. 
4. Exchange of old notes for cash upto a limit of Rs 4000 possible at any bank or post office by producing valid ID proof. 
5. Rs 500, Rs 1000 notes will be accepted at hospitals, drug stores till Nov 12. 
6. Arrangements have been made at airports so that travellers entering/leaving the country are not inconvenienced. 
7. The notes can also be used at designated fuelling stations till Nov 12. 
8. Petrol pumps and retail outlets will have to keep every single entry of cash transaction with Rs 500 and 1000 notes till November 11. 
9. ATMs will not function on Nov 09 and at some pl…