Search found 198 matches

by shyamal
10 Dec 2016 01:50
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

OK - I was one who had gloom and doom news yesterday. Today I bring better tidings :) It seems 500s have hit Kolkata in sizable numbers. They have been loaded in ATMs. Lots of people I know have withdrawn 500s from ATMs today - PSU and ICICI bank. The ICICI ATM in my office was loaded twice today wi...
by shyamal
09 Dec 2016 03:13
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I don't trust MSM. Specially in this Demonetization they have lied and mis-reported with horrible bias. I have posted only about my personal experience in this thread. My earlier posts were of positive response to this move that I saw in my locality. The recent ones are about the anger and cynicism ...
by shyamal
07 Dec 2016 22:02
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

Paid media is reporting that small business has been hit. But how is that possible? Small business that have current accounts can pull 2L per month. Small customers can pull 1L per month. I am sure that both these limits are more than adequate. So why are there less transactions? Are banks not in a...
by shyamal
07 Dec 2016 21:15
Forum: Trash Can Archive
Topic: Sunni Terrorist Fragments of Unstable Pakistan- November 7, 2016
Replies: 2857
Views: 418478

Re: Sunni Terrorist Fragments of Unstable Pakistan- November 7, 2016

Has India been blamed yet for the PIA crash? No mention of RAW agents anywhere?
by shyamal
07 Dec 2016 20:14
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

My experience in Private bank - The three teller windows were busy with currency deposit and withdrawal. the other bank employees were doing their usual work. A discussion about loan documents was going on with a customer while I was standing in the queue. Friends experience in SBI and PNB - Life ce...
by shyamal
07 Dec 2016 20:02
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

They are coping(the other option is dying) but with great difficulty. Things have been specially bad over the last one week. There was expectation that things will ease by 1st week of December. Lots of credit in the market for that assumption. Now quote a few shacks, small services etc in my localit...
by shyamal
07 Dec 2016 19:39
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

As I already said - its fine if you want to buy 2000 worth of stuff from one shop(right now or in the near future). For the lower income - that is true only for bare necessities like groceries etc. That they are managing fine. No one is going to keep money in advance with a shopkeeper for future pur...
by shyamal
07 Dec 2016 19:21
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

Sir, while I don't have enough data to say poor are not facing difficulties, an anecdote as a contrary example: Our regular maid was away. We had a temporary help for about 10 days. She was able to take a 2K note and get back 800 change just like that. I didn't enquire who she managed to make chang...
by shyamal
07 Dec 2016 19:19
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

Incidentally - Urjit Patel is quoted as saying exactly what Suraj said on the forum: "Don't hoard small denomination notes. Keep them moving" He says the govt has released more cash into the circulation in the last 3 weeks than was done in 3 years prior to that Unfortunately, the bulk of ...
by shyamal
07 Dec 2016 18:08
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I did not have problems changing the 2000s when I tried. But then I was old customers in those places. Also - not many people will be able to/want to/afford to buy things worth Rs 500 from the same small shop. It is very difficult for them. For the middle class, its just an inconvenience. For the po...
by shyamal
07 Dec 2016 15:47
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

Introducing the 2000 instead of 500 and 100 was a big blunder. 2000 is being cursed by everyone who cannot afford to club purchases. 2000 just cannot be used. Where one would use 2000 notes one can anyway use credit cards or bank transfer. People are starting to lose patience(and I am still a suppor...
by shyamal
05 Dec 2016 01:02
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

This is karan thapar and aroon puri team.... Yes, reporting was similar in the most of the MSM or what is considered MSM. Read/Watched with care MSM for the beginning 2-3 weeks. The bias and lies are so great that even I was astounded. They were reporting chaos and disaffection where I know first h...
by shyamal
02 Dec 2016 02:09
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I don't know - It seems Delhi and Blr are having a much worse experience than a completely third grade city like Kolkata. Since 8th Nov I have visited ATM only twice - that too opportunistic visits. I was shopping and noticed an ATM being refilled and just 4-5 people in queue. I stood in queue and w...
by shyamal
02 Dec 2016 01:28
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

So, all in all, its seems the first day passed ok. No news of any wide-scale violence etc.
I just wish the govt had printed and distributed 500s instead of 2000. That would have eliminated 90% of the rumblings/trouble of the last 2 weeks.
by shyamal
30 Nov 2016 22:48
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

Shiv sir,
If you are using data only for intermittent usage like e-payments etc and no downloads and limited surfing - then in Rs 50 you can get 125 MB data for 30 days.
by shyamal
30 Nov 2016 00:56
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

Update - For the first time after 8th Nov(and after a long, long time) I stepped inside a bank branch today.(I had failed to withdraw money on Friday and Monday as money ended before my spot in the queue could enter through the bank doors :P ) I reached by 9.15 am and there were 4 people ahead of me...
by shyamal
28 Nov 2016 20:47
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I tried withdrawing cash on Friday. Cash got over before I reached the counter. I tried again today but unfortunately there was no supply of cash to bank today. I really hope I can get it tomorrow. I plan to queue at 9 am. I mainly need the cash for salary to my domestic staff and driver on 1st. Doe...
by shyamal
28 Nov 2016 00:13
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I already had Paytm. Have used it a few times. Very smooth experience.
Installed pockets today. The process was very quick as I have ICICI account.
Have loaded a token Rs100.
Where can I use Pocket?
by shyamal
27 Nov 2016 03:07
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I get SMS every time any transaction happens on my bank accounts or credit cards - deposits, withdrawals, transfers, debit card swipe, credit card swipe. I guess their accounts can be set up similarly? About cyber heist - I guess there is more possibility of pickpocket or a theft from home when they...
by shyamal
20 Nov 2016 01:13
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

SRoy - I do understand. Salt lake is an anomaly I guess.
by shyamal
20 Nov 2016 01:12
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

The experience in my corner of Kolkata - changing 2000s is not a big deal if you are buying something worth more than 1000. Just bunch your purchases together. I have been spending 100s as usual. magazine-wallah, flower-stall, roadside food stall, parking fees(10s and 50s), fish stall. I have not fe...
by shyamal
20 Nov 2016 00:55
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

Just OT - I feel that salt lake has a lot of senior citizens(kids are almost all settled outside Kolkata/India) and upper middle class buro-buri(the old couple) left to fend for themselves. The other lot are outsiders(from out of city/state) who are staying there as PG or rent and have very little i...
by shyamal
20 Nov 2016 00:52
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

Come and shop outside saltlake :) I leave in the rajarhaat area. Fish, poultry and produce abound in baguiati market as well as the smaller roadside markets in rajarhaat. No shortages here. Spencers has the usual stock quantities as well. Payment to household help will come only in month end. By tha...
by shyamal
20 Nov 2016 00:39
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I too think that things could have been a bit better managed - specially - 1. restrict exchange to only 1-2 days a week 2. ATMs - even just 10% - need to be refilled with 100 and 500 at regular intervals, maybe twice a day so that people are reassured But I have definitely not been surviving on the ...
by shyamal
19 Nov 2016 20:02
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

Very small lines in banks today in my locality as exchange was not allowed today. I visited an ATM in the evening and got a Rs2000 note. Immediately spent it in the local market and got change of Rs 400. Tomorrow - the banks are closed. I hope all bank employees get a much deserved break and feel re...
by shyamal
19 Nov 2016 01:33
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I was just going to post the above article :)
by shyamal
19 Nov 2016 00:24
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I agree. No need to make all ATMs work. Just pick up 10 % ATMs. Let the public know which they are - a cardboard notice on the door will also do. Get them refilled 3 times a day. Public is crazily picking up cash from ATMs because of the uncertainty. Not because of any shortage. Once they know that ...
by shyamal
19 Nov 2016 00:13
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I am happy that govt has prevented exchange tomorrow.
they can do something like this -
Monday, Wednesday and Friday - deposit, withdrawal and exchange allowed.
Tuesday, Thursday and Saturday - only deposit and withdrawal allowed.

The ATM situation needs fixing very very soon. Its 10 days now.
by shyamal
19 Nov 2016 00:10
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

Father went to bank today to deposit old notes and withdraw money. It is Axis bank in a Kolkata suburb. Long line of exchange folks. A small line of account holders. He managed to get his work done in 30 mins. No ATMs are working yet. From what I see on my way to work - lines have decreased in all t...
by shyamal
18 Nov 2016 14:01
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I hope they can continue with the inking.
The exchange lines have decreased pretty drastically over the last two days.
by shyamal
18 Nov 2016 00:15
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I have received many SMS asking me to convert my notes with a commission. All my colleagues are getting these SMS.
by shyamal
17 Nov 2016 21:04
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

This video of Vivek debroy is good. I don't remember if it has been posted here.
https://www.youtube.com/watch?v=Q27tsbSileE
by shyamal
17 Nov 2016 20:43
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I am not going to ATM just so I do not take share of money that could be much more useful for someone else. I see many folks, particularly bachelor folks in my area who are quite well educated and can easily handle all card transactions taking out cash to the limit from ATM (and in my place there i...
by shyamal
17 Nov 2016 20:35
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

If the exchange limit is reduced to 2000 then does that indicate the deadline of exchange will be extended? My guess - once the lines decrease to normal(or upto 2X normal) ie the "real" people have deposited/withdrawn - then this limit will be increased again. It has been temporarily decr...
by shyamal
17 Nov 2016 20:32
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

abhijitm wrote: I think people is small towns & villages are showing more resilience than urban crowd.

Small town and rural areas work with small denomination and with credit in most purchases. Also close knit communities help each other. So they are not effected so much. Till now.
by shyamal
17 Nov 2016 20:18
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

Hmm...So, some people here (and other places like twitter, offices) are saying, in coming days many would start losing patience. If this is the level of patience and attitude that our countrymen have - "I don't care, do whatever it takes, just don't trouble me..", then I don't think we wi...
by shyamal
17 Nov 2016 20:10
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

And no - in lower income areas the shops are not going to convert to credit cards as none of their customers have credit card. My driver and security guard is never going to qualify for one. What happens when those groceries down their shutter next wednesday? Don't you think looting is a real possi...
by shyamal
17 Nov 2016 19:49
Forum: Technology & Economic Forum
Topic: Currency Demonetisation and Future course of Indian Economy
Replies: 7870
Views: 809226

Re: Currency Demonetisation and Future course of Indian Economy

I have stopped reading all opinion pieces.
Phillip - which city are you from? At least in Kolkata there is no dearth of cash in banks.

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