Bharat Rakshak

RajeshG

http://www.thehindubusinessline.com/money-and-banking/restrictions-on-withdrawals-to-be-eased-when-80-of-new-currency-is-rechannelised-in-bank-deposits/article9428534.ece The Government will start easing restrictions on cash withdrawals once 80 per cent of the new currency introduced following demon...

RajeshG

As far as I know, payTM does not charge you if the transfer is from wallet to wallet Interesting. The fine print.. https://paytm.com/terms You shall pay the Service Charges prescribed by Paytm in the form and manner prescribed for such payment. Paytm may at its discretion, change, amend, increase, ...

RajeshG

Cash in pocket has no value, we are assuming that people will take money and immediately use it for another transaction, but thats not true. You may provide 2,50,000 in commission but at 6% interest the same 100 rs will earn 600000 in interest in bank. Now what is better? The commission is on each ...

RajeshG

Q : What's wrong with Cashless Transaction? This question and its answer makes an assumption that all humans are selfish. When a selfish merchant is facing a 1% charge on all transactions then he/she will pass it on to consumers resulting in 1% price rise. Then a selfish consumer with cash on hand ...

RajeshG

http://economictimes.indiatimes.com/news/politics-and-nation/now-get-interest-on-exchange-of-old-notes/articleshow/55949867.cms MUMBAI: The premium for illegal exchange of old currency notes has collapsed and money changers are proposing to pay interest on old notes provided the owner agrees to lock...

RajeshG

Another place where a lot of old notes might be is overseas. Potential countries would be all neighbors, middle east and african countries maybe ? I know Nepal had raised the conversion issue at a high level at one point but havent heard much after that. I have also heard that in some countries in m...

RajeshG

Akshay Kapoor wrote:KItna tha ?

Kapoor saab, With respect, there could be more then 2 sides to an issue. But it definitely is interesting that people feel that the only reason somebody might criticise notebandi would be because they have lots of maal. To each their own I guess. Last from me on this. Jai Hind.

RajeshG

So you want the PM to keep alleged promises while people have no civic sense at all ? Bhai mere you claimed that PM made no such promise for which i pointed to the speech. I made no claim that PM should keep such a promise. Whatever significant mule business existed is dead in the water - exchanged...

RajeshG

Not Shaurya but the "ideology" being referred to is not "hindutva" or "secularism". I think the ideology being referred to is communism/capitalism. The writer is most probably a libertarian.

RajeshG

1. It is you who is not serious Rajesh, changing the "mulayam's money in poor mules' accounts" CHANGED TO "money exchange mules". Sharmaji the point as i mentioned to Suraj was that there are ways that are scalable. Accounts or exchange are just different MOs. The NCP fellow cau...

RajeshG

The article claims Modi promised to increase the exchange limit in his original speech. Yet there's no such promise in that speech. Nor does the RBI press release make any promise it broke. You can continue to exchange old money for new. http://blogs.wsj.com/indiarealtime/2016/11/08/full-text-of-in...

RajeshG

http://indianexpress.com/article/india/ ... d-4393985/

RajeshG

Suraj wrote: These people are not mules to begin with. It also entirely discounts what disha said - that people are not interested in being mules.

Are you serious ? Were you even in India in November ? GoI had to stop the whole money exchange scheme because of money mules.

RajeshG

He has to just for show. From the way Narendra (?) Aggarwal speaks in the house they arent really 'opposed'.... Its Naresh Aggarwal. You are joking right? He was so upset and seething that he even pointed towards BJP benches and said "...these sarkari dalals..." , he also cited his person...

RajeshG

Something just struck me. Even if mulayam can put lots of cash in the bank (and can take it out too ) he will end up showing thousands of people how much money he has. Surely some will ask in their minds - where did he get that. And more importantly that might lead to - some of it is stolen from my...

RajeshG

Paul wrote: Watch that to get a correct perspective on amar Singh.

Sir if admins allow and if you have thr link available i would like to see. Thanks

RajeshG

So tell us why Mulayam was begging Modi to defer this move until after UP elections, then. If he's already sitting pretty, why'd he open his mouth ? He has to just for show. From the way Narendra (?) Aggarwal speaks in the house they arent really 'opposed'. Amar Singh who is now buddy-buddy again w...

RajeshG

http://economictimes.indiatimes.com/news/economy/policy/rbi-against-governments-proposal-to-dramatically-lower-charges-on-debit-card-transactions/articleshow/55930134.cms “Mr Gandhi said that any reduction in charge has to be done keeping in mind the cost considerations for banks. The government is ...

RajeshG

Rahul and Prahaar, theek hai, jaane do.

RajeshG

Singhaji While i still cannot put my finger on what exactly this emotion means and hence might not be able to articulate this properly. But I do know one thing for sure that this definitely does not sound like "sabka saath sabka vikaas". And my spider sense tells me this negative emotion i...

RajeshG

He is from a certain Rajasthani mercantile community.

This is pretty amazing. I mean, seriously ? I am seriously trying to understand this type of emotion going thru the nation and I cannot figure it out.

RajeshG

Sachin ji the organization's website is this http://www.fisme.org.in/index.php

RajeshG

Another interesting interview on same site http://scroll.in/article/823231/interview-demonetisation-has-hit-80-of-small-businesses-the-sector-is-staring-at-apocalypse Anil Bhardwaj is the secretary general of the Federation of Indian Micro and Small and Medium Enterprises. It is to this group of ent...

RajeshG

http://scroll.in/tags/55796/note-demonetisation This link seems to have decent coverage on demo. I mostly read stories where they talk to people in remote areas etc. Maybe i am drawing the wrong conclusion but from those stories atleast upto now it seems that aam-aadmi is going thru hell. But is sti...

RajeshG

Another interesting article doing the rounds.. http://indianexpress.com/article/business/banking-and-finance/demonetisation-sbi-report-had-clues-to-possible-currency-pullback-in-march-4377724/ The report, authored by SBI’s chief economic adviser Soumya Kanti Ghosh and his team, had cited an ‘unusual...

RajeshG

In last couple of days i have received multiple whatsapp msgs about some Javed Khanani committing suicide. Googling his name comes up with articles about his brother ( Altaf ? ) getting arrested by US in november and pleading guilty a few days ago. http://www.dawn.com/news/1219828 Maybe Sridharji ca...

RajeshG

Anyhow no matter how this turns out, it must be acknowledged ( once again ) that such type of excercise can never be carried out in any other country. Our capacity to adjust is truly legendary. Reminds me of the "no adjust" advt from VIP.. I say this because i have seen many articles that ...

RajeshG

UP elections will be the litmus test. Yes true. To me that is really important because of the RS seats. I havent done the calculation as to how much will be gained from UPs RS seats but I am guessing that would be considerable. If enough RS seats can be accrued before 2019 then some better thought ...

RajeshG

This is interesting. http://profit.ndtv.com/news/economy/article-double-counting-state-bank-has-doubts-over-rs-11-5-lakh-crore-in-old-note-deposits-1635486 Banks have so far received Rs. 11.5 lakh crore in deposits in the form of banned 500 and 1000 notes, RBI deputy governor R Gandhi said on Wednes...

RajeshG

There must have been thousands of government corporation employees and water/electricity etc depts with stashes from 50 lakhs to 5 crores. Yes agreed. Infact in the previous IDS scheme that ended around 67k cr were declared. IIRC I read somewhere that about 21k people contributed to this figure ( a...

RajeshG

BTW if somebody has youtube URL of Urjit Patel's address to media could somebody please post it ? Somebody told me he did a great job calming people down while doing something that surprised everybody by holding the rates.

RajeshG

But if 90% of the notes are returned it will confirm (to me) that the black money cash hoarding in India was probably not by the real biggies with 100 of crores - those are probably only a few in number, but the vast majority are undeclared income by "chota-mota" hoarders like my octagena...

RajeshG

Has anybody read this book ? is it any good ? http://press.princeton.edu/titles/10798.html He has written this blog http://blog.press.princeton.edu/2016/11/17/kenneth-rogoff-indias-currency-exchange-and-the-curse-of-cash/ In an interview here https://www.bloomberg.com/news/articles/2016-09-07/harvar...

RajeshG

Black money: Deposits belie expectations of large windfall http://economictimes.indiatimes.com/articleshow/55719794.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst In a local newspaper there are "unnamed sources" quoted that 12.6 lac cr has been deposited but t...

RajeshG

Thanks Arun. I didnt find that link. Just to clarify the numbers are for financial years 2011 and 12 when PC was the FM. I havent seen any statements from him. Its interesting to say the least. Not related to this but also ran into white paper on black money (released by ministry of finance) which f...

RajeshG

Googling around and found an article written by Mr Vijay Sharma ( ex-IRS, now retired ) who filed the RTI request. https://www.thequint.com/india/2016/03/19/even-as-farmers-die-trillions-laundered-as-agricultural-income This gives rise to a bona fide suspicion that illegal gains (and clearly not agr...

RajeshG

This is interesting - i missed this. Apologies if posted before.

http://m.firstpost.com/politics/demonet ... 04572.html

RajeshG

Sicanta wrote:Can someone please critically analyze this article:

Demonetisation: Understanding the event, impact, narrative and meaning

http://www.business-standard.com/articl ... 175_1.html

Very well written

RajeshG

2) Would certainly not like to see Congress and company be back with IT raids, absurd tax rates, confiscation of anything that can be grabbed and running court cases till eternity, etc. India is a democracy. Indians know nothing will last forever. Even Rama Rajya didnt last forever. People expect N...

RajeshG

For those people speculating that BM holders converted their cash to gold or forex: The gold price in Mumbai has fallen from Rs 3145 / gm (24 karat) to Rs 2975 /gm today. That is the opposite of what would happen if there was a spike of people converting cash to gold. Nor has there been any increas...

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