Most of my friends doing small level business have shutdown their business as they can not run. Thank you Modiji, the staffs are enjoying leave (unpaid)...
How the hell they will get paid ?

If not wrong, Indian economy could be heading to one of the biggest challenge of its life.. The damage is done, not reversible. It is more or less like a big natural disaster.
It is sad, really sad to see the place once we enjoyed natural life is seized to exist now..

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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

Quote:

---

Originally posted by JRF

Most of my friends doing small level business have shutdown their business as they can not run. Thank you Modiji, the staffs are enjoying leave (unpaid)...
How the hell they will get paid ?

If not wrong, Indian economy could be heading to one of the biggest challenge of its life.. The damage is done, not reversible. It is more or less like a big natural disaster.
It is sad, really sad to see the place once we enjoyed natural life is seized to exist now..

---

Small plastic factory primarily making bottle lids, vegetable marketer, flower commission agent, small time financiar...last guy got screwed from both ends, leaving you to guess why...

Quote:

---

Originally posted by hchheda

Quote:

---

Originally posted by JRF

Most of my friends doing small level business have shutdown their business as they can not run. Thank you Modiji, the staffs are enjoying leave (unpaid)...
How the hell they will get paid ?

If not wrong, Indian economy could be heading to one of the biggest challenge of its life.. The damage is done, not reversible. It is more or less like a big natural disaster.
It is sad, really sad to see the place once we enjoyed natural life is seized to exist now..

---

Not to contest with what you stated, just want to understand why the extreme step in a matter of 15-18 days? What kind of business are these? I am genuinely interested to learn.

It is already agreed that the economy will take a break for few months, but I don't see the logic in this slow down being permanent or long term.

Hiren

---

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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

I think the demonitization has been planned quite poorly. Banks still don't have enough cash, not even able to meet the Rs. 24,000 withdrawal limit per savings account. It will be a few months before India returns to normalcy. In between all cash based small businesses will suffer.

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Give free food http://www.thehungersite.com ||

No action by Indian High Commission in Ottawa (must be sleeping).

see link:

https://www.easterneye.eu/news/detail/indians-in-britain-with-old-currency-notes-seek-solutions

Indians in Britain with old currency notes seek solutions
Published on : 24 November, 2016
By Nadeem Badshah



The ban on Rs500 and Rs1,000 notes in India has sparked “panic” among the community in Britain, who are rushing to exchange their cash.

Indians in the UK are making emergency trips to their homeland to change their money before the December 30 deadline as British banks are unable to handle the notes.

Prime minister Narendra Modi has given Indians until the end of next month to exchange them as part of a drive against so-called “black money” or unaccounted wealth.

But people are only allowed to carry up to Rs25,000 when entering or leaving the country, which could impact British families planning a wedding in India or staying with their
family over the winter. And the limit to exchange cash at the bank was reduced to Rs2,000 last week.

Harjap Singh Bhangal, a senior partner at MKV Legal Solicitors in the Midlands, said that larger amounts can be transferred into an Indian bank account.

The lawyer told Eastern Eye: “I have been contacted by Non Resident Indians (NRIs) living in the UK about how to change their rupees if they are in the UK. It has sparked a worldwide panic.

“The advice is if people are travelling to India, they can exchange up to Rs2,000 at their bank.

For amounts over this they can deposit them in their bank account in India.

“Large deposits in rupees may be subject to tax enquiries from the government as to the source of these funds.

“Rupees can also be deposited into an Non-Resident Ordinary (NRO) account.

“People can also appoint a representative to deposit money on their behalf in India. However, if large sums are going to be deposited then it is best to get advice from a qualified accountant as to possible tax liabilities.”

Bhangal added that his firm was in talks with the Indian High Commission in London to help people who are unable travel to India before the deadline next month.

Dinesh Patnaik, the acting high commissioner to the UK, said it is looking at ways of allowing people to deposit their notes at a branch of an Indian bank overseas.

He said: “Our endeavour is to help everybody. We have asked Delhi about it.

“I have a feeling we will work out something so that people who have carried certain amount of cash in their pocket, should be able to deposit it in any Indian bank abroad.”

Anil Bhanot, managing director for Hindu Council UK, said he is worried that Indians with holiday money may lose out.

He told Eastern Eye: “I wrote to the Indian High Commission to provide guidance for the Indians here who may have money, which may run into Rs200,000-Rs300,000; if they had an extended period to go and deposit in India or if there was a facility here for them to exchange notes, but have had no response.

“It’s a good step against the black market but genuine people should not suffer by a short deadline to deposit or exchange notes, which for NRIs (non resident Indians) it seems to be.”

The UK’s Foreign and Commonwealth Office has urged Britons to use debit and credit cards in India to avoid problems with withdrawing money and getting change from small businesses.

Its updated advice read: “If you have debit or credit cards, use them instead of cash where possible.

“If you’re exchanging money at a bank, take a form of photographic identification and expect long queues.

“If you’re exchanging money don’t accept any denomination higher than Rs100.”

Ankeet, a currency trader from London, has given Rs2,000 of old notes to a cousin going to India. The 40-year-old said: “I’m lucky that I have a relative who is flying, so my only option would be to give it to him and ask him to enjoy it.

“I’ve got a friend in the US who has close to Rs50,000. He will probably write it off.”

Rajiv Nathwani, director of finance firm Quivira Capital, has backed the call for people outside India to be able to exchange their notes before they become worthless.

He said: “There will always be people who will be caught by such a large change, but I don’t think the Indian government should penalise those who have currency and cannot get back to exchange it.

“There should be a system for those with foreign passports to be able to exchange currency. Maybe at the Indian embassy in their country. To have them lose their money isn’t fair.”

First fake Rs 2,000 note surfaces in Gujarat

Read more at:
http://economictimes.indiatimes.com/articleshow/55576900.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst


Soon Pakistan ISI will be back to business. Modi hurt innocent people, and left the mega rich money stashed in Panama, Bahamas & Swiss banks. No wonder Bollywood supports him.


see the comments on Reddit.

https://www.reddit.com/r/india/comments/5eb32h/first_fake_rs_2000_note_surfaces_in_gujarat/

DeMonetization reminds us of sheep who cheered when their leader promised them a blanket each. Till one sheep asked, "where will the wool come from?"

Merwyn Ferrao