Rs 500 and Rs 1,000 notes pulled out of circulation immediately in India !


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Full House   
Member since: Oct 12
Posts: 2677
Location:

Post ID: #PID Posted on: 02-12-16 14:00:44

Here is a good one..:

BIWI JAISI HO GAYI HAI CURRENCY.

Purani Chalti Nahi...

Nayi Milti Nahi....
--

We have our own Indian calendar now, starting 8th November 2016.

BC - Before Currency (Screw up) &

AD - After Demonetization
---

NJOY.


TGIF.

FH.



sguk   
Member since: Mar 09
Posts: 327
Location:

Post ID: #PID Posted on: 02-12-16 14:39:53

British MP writes to Modi whilst Canadian (Desi) MP's lazy around.



http://timesofindia.indiatimes.com/nri/other-news/Keith-Vaz-writes-to-PM-Modi-over-demonitisation-concerns-of-NRIs-in-UK/articleshow/55684767.cms


Keith Vaz writes to Modi over demonitisation concerns of NRIs in UK

LONDON: Britain's longest serving Indian-origin MP Keith Vaz has written to Prime Minister Narendra Modi suggesting measures for addressing concerns of Indian diaspora in the UK affected by the demonetisation of Rs 500 and Rs 1,000 notes.

The Indian government's withdrawal of the notes from circulation means NRIs and British Indians with rupees brought back to the UK would be required to fly to India to exchange their currency before the December 30 deadline.

"The Indian government should be commended on this bold and courageous policy, and I completely understand why they have taken these steps. However, the rupee recall has inadvertently caused concern and distress to many members of the Indian diaspora community who live abroad who fear they will be unable to exchange their currency by the deadline in December," Vaz said.

Summarising his suggestions, the senior Labour party MP noted: "I have therefore written to Prime Minister Narendra Modi with a three-point plan to address the concerns of the diaspora. The first priority is to extend the deadline to after the summer holidays in 2017."

"It would also be practical and beneficial for British Indians to be able to exchange this currency in UK banks, and until this issue has been addressed I have asked that a Special Envoy to the diaspora is appointed to the High Commission in London.

"Concerns have also been raised that the money withdrawn by UK citizens on holiday in India for the cricket is now unusable, and addressing this issue now will prevent them from being frustrated and unsatisfied with their experience in India."


The letter to Modi dated November 23 was sent a day after his meeting with Acting High Commissioner of India to the UK, Dinesh Patnaik, over the issue.

It highlights concerns of nearly 30,000 Indian-origin people living in his constituency of Leicester East alone.

On the same day, Vaz also wrote to Bank of England governor Mark Carney urging him to look into making an exception so that people with the demonitised notes can deposit them at UK branches of Indian banks.


"Could you advise me on whether an exception could be made for British Indians to exchange their currency in the UK, and whether you have been in contact with Indian banks operating in the UK on this issue," he said in his letter.



rajcanada   
Member since: Jul 03
Posts: 2713
Location: Kitchener, ON

Post ID: #PID Posted on: 02-12-16 15:27:42

Only Indian residents travelling abroad are allowed to carry Indian rupees up to Rs. 25,000. Others are not allowed to carry any Indian rupees outside India even though a lot of people do it for convenience.

http://www.cbec.gov.in/resources//htdocs-cbec/guide_for_travellers/trvler-guide_ason05feb2015.pdf;jsessionid=E3ADA934C70D74F77B65349490C421B3


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febpreet   
Member since: Jan 07
Posts: 3252
Location:

Post ID: #PID Posted on: 02-12-16 20:56:46

Politicians don't care about Non-Voters except when they need our $$$ (Indian Missions looting us on the pretext of OCI, IN Passport Cancellation, etc.). So, why are you guys still holding your breath that Modi will devise a strategy to help NRIs/OCIs in this regard? If he had to do so, he would have at the same time when he announced this DEMONitization scheme. I would be equally surprised if he does something for the sundry Indian-Foreigners.

Don't read too much into it. Enjoy the Circus. The sooner you forget about your accumulated INR wealth of some 10,000 or 20,000 Rs. the sooner it's better for you.

The Rock show was long over last year in April any way.



Delhite   
Member since: Nov 04
Posts: 938
Location: Brampton

Post ID: #PID Posted on: 08-12-16 11:12:22

Another raid found 70 Crores in new currency notes. It is not possible without the connivance of corrupt bank personals. If it will continue like this, the whole exercise will lose its nobility. But why – I think there is a flaw in the methodology as well as in execution.

The problem with the methodology is that the government tried to filter out the black money from each and every one and here is the fault. In a country, where corruption has been accepted by the society, you cannot fight straight. Instead of have such a gigantic exercise, they can implement it in phases – e.g. first only demonetize 1000 rupees note and after six months, the 500 rupees note. It would have dampen down the impact on general public.

The demonetization is a solution of the product of corruption and not a solution of the corruption itself. The government tried to clean the system from bottom up whereas they could have started the cleanup drive from top to bottom. I believe every income tax officer have a very good idea of how many people have black money in his ward. Here, I am very serious because when these officers get transferred, they hand over the list of all those people to new comer so that he can continue to extort money from them. If the government started taking action against the top 1000 such persons, who have huge black money, the millions of petty black money hoarders would have started cooperating with the government by declaring their black money and come in the clean economy.

The day government will bring in a new law declaring the bribe a serious cognizable offence with minimum 5 or 10 years of jail sentence with confiscation of all accumulated wealth, over 95% of corruption will be stopped immediately.


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A Delhite in Toronto


kia   
Member since: Mar 09
Posts: 9
Location:

Post ID: #PID Posted on: 08-12-16 13:09:26

Guys,
So today is Dec 8th and we have no locations specified in Toronto area where we can go and replace Indian 500 /1000 Rs notes.

I think approx. Rs 15000 every family keeps with them as money so they can use when they go back to India


Can we send the money (small amount say about 15000 Rs) by post to our relative in India so that they can deposit in the bank account? Will it be considered illegal.
What other options do we have? Any advice is welcome.

thanks,



rajcanada   
Member since: Jul 03
Posts: 2713
Location: Kitchener, ON

Post ID: #PID Posted on: 08-12-16 13:20:39

Quote:
Originally posted by kia

Guys,
So today is Dec 8th and we have no locations specified in Toronto area where we can go and replace Indian 500 /1000 Rs notes.

I think approx. Rs 15000 every family keeps with them as money so they can use when they go back to India


Can we send the money (small amount say about 15000 Rs) by post to our relative in India so that they can deposit in the bank account? Will it be considered illegal.
What other options do we have? Any advice is welcome.

thanks,



I do not think any courier or post will accept currency notes in the package. Also remember that packages get scanned by customs. You can send via someone going to India before December 31. After December 31, they can be exchanged at RBI counters only but there is no clarity how much can be exchanged. Some newspapers are suggesting last limit of exchange which was Rs. 2000 only.


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



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