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  Canada Immigration Forum > General > Our Native Country! > Rs 500 and Rs 1,000 notes pulled out of circulation immediately in India !
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Rs 500 and Rs 1,000 notes pulled out of circulation immediately in India !




sguk
Senior Desi
Member since: Mar 09




Posts: 327
Location:


1) NOT a supporter (or ever have been of) of AAP or PAPPU.

2) Terrorism isn't about black money, but the truth is the religion needs to be reformed.

Quote:
Originally posted by Blue_Peafowl

ITs good to see lot of A..s..sh.. burning...

it takes vision and guts to take this kind of steps...

Yes, we may have not curbs foreign black money but this steps will put big stop on domestic black money... especially funded to terrorist , ISI has been pushing fake money in India to fund terrorist against us. Those will be just garbage paper now.

Also, its not easy for foreign black money to float in India like it used to do...

yes willing to adjust to this sudden shock given by govt is may be uncomfortable for some.. but we need to understand the overall change this might bring in,

just keep repeating go for money abroad is an excuse to curse Modi at any cost. typical AAPTARD and PAPPU mentality...

Oh Well carry on ... Modi did something good , we like it or not its impact will be seen in near future...



 
Post ID: 233203 09-11-16 23:04:05
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sguk
Senior Desi
Member since: Mar 09




Posts: 327
Location:


Those ppl burnt train full of pilgrams.

Quote:
Originally posted by futureguy

Quote:
Originally posted by Chamgadad

MOdi is a rascal who pays to the gallery without sparing a thought as to how his reckless actions will affect hundreds of thousands, some of his own well wishers.
First he absolutely ruined the PIO card holders by creating a totally unnecessary convuled process to switch the cards to oci. If pio was to be made valid lifelong why not jus declare it so honour it for life of holder. Instead it's a bloody hell of confusion with each Indian consulate and bls employee having his own explanation.
And now this with zero regard to hardships faced by huge NRI community. If the problem was black money why not allow NRIs the ability to exchange money for a year for a certain limit?
But then again it is so much easier to blame it all on Pakistan!



He is basically a dictator under the guise of democracy. Its his way or the highway. Quite Narcisstic too. Selfie PM. A Chaiwallah who became a PM. Blood of Gujarati Muslims on his hands too.

Unfortunately for a corrupt and lawless country like India, we needed someone like him. The others are far far worse than him. We have tried them all, the Lalu Prasad Yadavs, the Mayawatis, the Jayalalithas, the Sharad Pawars, the Sonia Gandhis, the Phoolan Devis, the Manmohan Singhs, the Kejriwals, the Rahula Gandhis. So we might as well stick with MODI, till something better comes along.

Lot of collateral damage does take place due to his high handedness. But for the greater good of India, it might be good in the long run for him to be in power.

Short term sufferings for long term gain.





 
Post ID: 233204 09-11-16 23:06:43
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elmer fudd
Senior Desi
Member since: Jan 10




Posts: 451
Location:



This is not about the little guy or the big fish. This is not even about Modi.

Actually, this is the script of the globalists, which is being followed to a tee by the current regime of Modi and co. (don't worry, neither Congress nor Kejriwal will come to your rescue as knights in shining armour, they are all in it, albeit to a varying degree).

These globalists want all the cash and other forms of wealth of the world to be electronically tagged and placed under govt. surveillance. Govt. surveillance is in effect their own surveillance, as they own govts.

Hence, the move by Modi at the beginning of his term to get most of the poor and uneducated people under the formal banking system. Of course, under the garb of helping them (and it will help them initially).

You would expect a "Hindu nationalist" govt. to resist moves in placing gold belonging to the temples under RBI/govt. The Modi regime actually promoted it under the garb of nationalism! According to them, the citizens and the temples are supposed to voluntarily surrender their gold to the govt. for a period of 10 years (or something like that), and in exchange they get some kind of govt issued ETF's. The govt meanwhile will leverage this gold of yours in international trade. This is burlesque of highest order. Only a fool would trust his govt. with his wealth.

Also Rs. 2,000n ote that the proposed new currency note is rumoured to be electronically chipped and tagged by satellites. If true, then it would make Big Brother very happy.

Yeah, yeah, it will knock out black money out of circulation and end corruption. Morarji also tried these stunts before. Corruption has only increased by several fold.The big fish will, as always, get away. They always do. It will be the small traders/businessmen who will feel the brunt. They (and you) will end up paying first world tax rates and in return enjoy third world services.

Electronic cash may also become a reality in North America. While people will enjoy the initial benefits of convenience and safety, then when the SHTF, they will be holding on to their wieners in their hands and wondering what just happened (accounts cleaned out by banks and seized by govts.).

The only good I see in the current stunt is that Pakistanis and Bangladeshis will see their illegal rackets in Indian currency curbed, at least temporarily.





 
Last edited by: elmer fudd on 10-11-16 01:29:10
Post ID: 233206 10-11-16 00:31:16
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zindabad
Senior Desi
Member since: Sep 12




Posts: 266
Location:


Quote:
Originally posted by futureguy

Quote:


She can DEPOSIT upto March 31 , 2017 at RBI specified office with proper ID, PAN card, declaration form.

https://mobile.twitter.com/kamaalrkhan/status/796202390768603136/photo/1

Dec 30 , 2016 is the deadline at Banks and Post Office for exchange and Deposit.

Is she going home, before March 31, she should be fine.



Quote:

what if not going until March 31?



----------------------------------------------------
Then you are screwed. It will be worthless and like toilet paper. Like one of the banana republics of Africa and their currencies like Zimbabwe :lol:

You will have to find a way to physically send it to India by March 31, 2017. Or by Dec 30, 2016 for less hassle and paperwork.

Or some grey , underground , illegal , unofficial exchanges over here like Havala racket.

But official and legal channels is not possible in Canada. No banks or currency dealers will take INR cash in Canada, that too the old notes.

INR as it is was a very closed currency with lots of restrictions imposed by RBI, Customs, Indian gov. And now its even worse with this new banning of 500 & 1,000.




if you have NRO account with any indian bank you can submit your money in toronto in same branch or can open new NRO account with any indian bank and credit these money . Please check out indian banks in GTA and ask them .


 
Post ID: 233208 10-11-16 01:36:49
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zindabad
Senior Desi
Member since: Sep 12




Posts: 266
Location:



500 and 1,000 Indian rupee notes are not worthless. NRIs should take any of the following steps to reclaim their worth.
Deposit in NRO accounts
Manoj Nagpal, CEO, Outlook Asia Capital, suggests putting the money into the NRO accounts.

"If you have an NRO bank account, you can visit the branch of the said bank at anywhere in the world, and deposit the same in the NRO account.

There has been clarity on this from the Reserve Bank of India, and Indian banks with representative offices abroad should accept this cash to be deposited in the NRO accounts."

He also suggests opening an NRO account, in case you do not have one and do the same.

Travel to India before December 30, 2016

Indian government has allowed time till December 30 to deposit money in the bank accounts. There is no limit on the money that can be deposited in one's own account, provided all the KYC forms are in place. For all transactions above Rs50,000, account holders will have to furnish their PAN cards.

"NRIs can carry up to Rs 25,000 per person when they travel to India and have it exchanged or deposited into their bank accounts until December 30," says Vishal Dhawan, a Mumbai-based financial planner.

Travel to India after December 30, 2016
If you are traveling to India next year, you can visit any RBI office and convert the Indian currency into any other with due proof and reasons of delay.
Send money through someone to India

In case you are unable to travel to India in the coming six weeks, you can send the money through someone to India along with an authorisation letter, identity proof, such as copies of the passport, PAN card, etc., and entry and exit stamps from and to the Indian destination.


Check the link ?

http://www.khaleejtimes.com/international/india/what-nris-in-uae-should-do-with-rs500-rs1000-notes




 
Last edited by: zindabad on 10-11-16 01:42:09
Post ID: 233209 10-11-16 01:40:27
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Chamgadad
Junior Desi
Member since: Sep 12




Posts: 28
Location:


Let's leave aside politics religion past and future and focus on problem at hand - what can be done to exchange INR we have in Canada?
Other than sending it with someone going to India or booking a ticket to India before dec 30 there appears to be no other way.
And please do not tell others about possibilities without verifying personally that the method indeed works.
So how do we exchange the few INR in Canada?


 
Post ID: 233211 10-11-16 09:50:54
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febpreet
Senior Desi
Member since: Jan 07




Posts: 3248
Location:


Quote:
Originally posted by Chamgadad

Let's leave aside politics religion past and future and focus on problem at hand - what can be done to exchange INR we have in Canada?
Other than sending it with someone going to India or booking a ticket to India before dec 30 there appears to be no other way.
And please do not tell others about possibilities without verifying personally that the method indeed works.
So how do we exchange the few INR in Canada?



Just wondering and thinking aloud here - can you not do so using the State Bank of India's Canadian Branches?



 
Post ID: 233214 10-11-16 15:19:44
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nishant3112
Senior Desi
Member since: Apr 08




Posts: 178
Location: Niagara Falls


Quote:
Originally posted by febpreet

Quote:
Originally posted by Chamgadad

Let's leave aside politics religion past and future and focus on problem at hand - what can be done to exchange INR we have in Canada?
Other than sending it with someone going to India or booking a ticket to India before dec 30 there appears to be no other way.
And please do not tell others about possibilities without verifying personally that the method indeed works.
So how do we exchange the few INR in Canada?



Just wondering and thinking aloud here - can you not do so using the State Bank of India's Canadian Branches?



They never pick up the phones and their mailbox is full :-(:confused:


 
Post ID: 233217 10-11-16 16:18:54
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metallurgy
Desi
Member since: Oct 10




Posts: 72
Location:


I just visited SBI Canada , Mississauga branch. Lots of people with same enquiry. They accept funds only in CAD or USD. Also they do not provide any kind of currency exchange. Only option is to send money physically to India somehow before March 31st 2017. One person can legally import 25000 rupees worth of Indian currency notes according to RBI.

 
Post ID: 233218 10-11-16 16:25:52
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nishant3112
Senior Desi
Member since: Apr 08




Posts: 178
Location: Niagara Falls


Quote:
Originally posted by metallurgy

I just visited SBI Canada , Mississauga branch. Lots of people with same enquiry. They accept funds only in CAD or USD. Also they do not provide any kind of currency exchange. Only option is to send money physically to India somehow before March 31st 2017. One person can legally import 25000 rupees worth of Indian currency notes according to RBI.



Will it make a difference if you have an account with SBI in India? What about opening a new NRO account as someone just mentioned here


 
Post ID: 233219 10-11-16 16:35:12
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