Quote:

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Originally posted by zindabad

*500/1000*
*IMPACT ANALYSIS*

Brief Note
⬇⬇⬇
*Major impact on property & land prices betwn.20% to 50% downward correction can be expected 🔜 in next 3 to 9 months

*Big Boost for Stock & Commodity markets

*Fall in Jewellery and Gold sales

*Fall in Used Car market segment

*All types of Cash based transaction business will be impacted in a big way

*Very positive impact on Indian economic growth

*GDP expected to jump by 30-40% in next 18months

*Growth rate of the economy will touch appx.12%pa by March 2018 as the parallel black economy integrates with our current white GDP

*Boost to GST implementation

*Well connected decision by Govt.

*Corporate Tax rate could fall from 35 to 25%
And
Individual Tax rate from 30% to 20% by
March 2019

*Overall Tax Compliance and Collection will jump by 40-50% as Tax Base & Depth both will widen

*Strong deterence to corruption and bribes


*OVERALL A VERY GOOD & POSITIVE MOVE

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A Delhite in Toronto

An old but interesting news article. It shows how quickly the things change when you move to the other side.

http://zeenews.india.com/hindi/news/india/decided-to-change-the-currency-is-going-to-destroy-poor/200664

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A Delhite in Toronto

How dumb these morons are can be guessed by just reading their guidelines to foreign tourists who were caught unawares suing this mayhem - they were told to exchange the money back at the airport within 48 hours. So the tourists Who had landed few hours ago and exchanged currency at airport must run back to same airport to exchange money. Welcome to India by the way

In 70'-80s Indira Bhakts who thought Indira Gandhi would no wrong, proudly say" India is Indira and Indira is India"". Now that era is gone, but then most of those followers were not really educated or simply chamchas

Today with Modi bhakhts we have the same cycle repeating.but with educated followers.

Among the leaders, Modi may be the better one. But this blind support of the masses,who think that Modi will do no wrong, who simply argue that black money will be wiped out is all nonsense, someone should tell this prime minister, to use his mandate wisely, do the work efficiently and stop playing to the gallery.

In Indiras time, the press was against her, but today even the media is not challenging the government.

This demonetisation of the currency will only create hardship for the ordinary people, benefit if any will be marginal.

Few years ago Nawaz shariff in his earlier term as PM, declared that FCNR account holders cant withdraw their funds. Imagine the plight of account holders.

In 1978, Morarji Desai did the similar thing, but then Rs.500 Rs.1000 meant something, today its one day wages for many.

This kind of arbitrary decision is dangerous and majority welcoming it is still dangerous

This is Modi.

He destroys anybody to build his brand. To counter, black money charge from opposition (so he could protect Ambani, Adani, Birla, Bachans etc SWISS & Panama $$).

Let public fight back.

Quote:

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Originally posted by Chamgadad

Has anyone found any way out of this bloody mess yet?
Looks like we will end up losing whatever little money we have kept for convenience of not changing it at airports.
If the Indian govt HAD slightest care for NRI population thy could have easily instructed the overseas consulates and embassies to accept old notes for exchange but who gives a damn to fools like us?
Accorfing to this site some U.K. Official hinted at something like it. It it is not from Indian govt
http://nriindiancurrency.info/2016/11/11/nris-to-get-help-in-exchanging-banned-indian-currency/

What a way to ruin nnocent helpless people's lives while flying away To other countries

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Today Modi chamchas hailing this move.

In past, Franklin D Roosevelt seized American gold (1933) stored in bank lockers (SDB). Modi will do the same.

Best way, as in most 3rd world, keep savings in Swiss, Euro, American & Canadian dollars. Then if Modi does this nothing to worry.

Quote:

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Originally posted by Delhite

Quote:

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Originally posted by zindabad

*500/1000*
*IMPACT ANALYSIS*

Brief Note
⬇⬇⬇
*Major impact on property & land prices betwn.20% to 50% downward correction can be expected 🔜 in next 3 to 9 months

*Big Boost for Stock & Commodity markets

*Fall in Jewellery and Gold sales

*Fall in Used Car market segment

*All types of Cash based transaction business will be impacted in a big way

*Very positive impact on Indian economic growth

*GDP expected to jump by 30-40% in next 18months

*Growth rate of the economy will touch appx.12%pa by March 2018 as the parallel black economy integrates with our current white GDP

*Boost to GST implementation

*Well connected decision by Govt.

*Corporate Tax rate could fall from 35 to 25%
And
Individual Tax rate from 30% to 20% by
March 2019

*Overall Tax Compliance and Collection will jump by 40-50% as Tax Base & Depth both will widen

*Strong deterence to corruption and bribes


*OVERALL A VERY GOOD & POSITIVE MOVE

---

Please have some facts/logic behind what you have posted. Think analytically and explain how.....

*Fall in Jewellery and Gold sales - In my opinion, there will be rise in gold sale because from now onwards, the corrupt people will prefer to keep their black money in gold.

*All types of Cash based transaction business will be impacted in a big way - I don't see any impact to the cash based transaction business. The govt has facilitated them with a higher domination note of 2K so this type of business will boom further.

*GDP expected to jump by 30-40% in next 18months - Do you understand the meaning of GDP? Do you expect the production and consumption of goods and/or services will increase by 30-40%? I read somewhere that the black money in domestic market is NOT as bad as moving that money to overseas. If a corrupt person earned the black money and spend it in the domestic market, he is adding it to the economy. In current scenario, when the pool of his black money is gone, he will start gathering it again and will not spend as much as he was spending before so the consumption of goods and services will reduce in the coming months.

*Strong deterrence to corruption and bribes - how? The new 2K currency note introduction will make is easy for the corrupt. Now the corrupt will less rely on currency notes and will find other ways to convert. It may increase the outflow to overseas tax heavens.

The govt will be able to shred its liability in short term. Otherwise I don't see any strong policy to curb the corruption. The new upcoming bill to exclude the govt. employees from any vigilance agency's probe will further fuel the corruption. Just wait for few months and watch.
http://www.deccanchronicle.com/nation/current-affairs/130916/cbi-must-take-approval-before-probing-serving-retired-public-servants-govt.html
http://indianexpress.com/article/india/india-news-india/dopt-cbi-civil-servants-inquiry-3029204/

Personally I like this initiative but it should be supported by other anti corruption measurements, which are totally missing. It will definitely impact the upcoming election for few parties.

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http://www.khaleejtimes.com/nation/general/indian-banks-in-uae-do-not-accept-old-rs500-rs1000

Indian financial experts in Dubai have rebutted the rumour spreading on social media about depositing the demonetised 500 and 1,000 rupee notes in a representative office of State Bank of India in Dubai.

The Institute of Chartered Accountants of India Chairman Pankaj Mundra said the message is fake. "Any Indian bank in the Dubai International Financial Centre is not authorised to collect any cash, whether it is Indian rupees or US dollars as per the Dubai Financial Services Authority (DFSA) regulations. Only the banks having full branch licence from the UAE Central Bank is authorised to collect and exchange any currency here. Bank of Baroda is the only Indian bank in the UAE, which is authorised by the central bank to accept any cash deposit including rupees. Even in case of Bank of Baroda, NRIs can deposit Indian rupee only to their NRO accounts. However, regarding the 500 and 1,000 rupee notes, the bank hasn't received any instruction from the Indian government."
"Banks outside of India haven't received any directions to receive the scrapped notes yet," said Mundra.

The news of scrapping 500 and 1,000 rupee notes has created a chaos amongst the NRIs worldwide and Indian expats in the UAE are also confused. They are curious to know if there is a way out to exchange the money they have here.

RC Nayak, an Indian accounts professional based in Dubai, told Khaleej Times that he had just returned from a vacation and was shocked to learn about it as he had kept some Indian rupees with him so that whenever he travels to India, it could be used for emergency. "I would prefer if Indian government can allow exchange of money here in the UAE as it would be difficult for me to go to India soon. But, if nothing will happen then I have no choice but to travel."

Like him, Ajay Reddy, another UAE resident, has no plans to visit India soon and can't even send money through someone else. Even the option of depositing money in the NRO account doesn't work for him. He is helpless and is seeking a solution for the NRIs like him.

Manjula M.S. came from Bangalore to Sharjah on Thursday with Rs50,000 (in Rs1,000 notes). "I thought I would exchange it for UAE Dirhams at the airport." But, at the airports in Bangalore as well as in Dubai, the exchange houses refused to accept the scrapped notes. "I came here on a three-month visit visa to find a job and my trip was planned in advance. The government decision to scrap the notes was announced on November 8 in the night and the next day, banks were closed. So I could not exchange the money there also. Now, I have no idea what to do with this cash here and I can't depend on friends for long time for food and accommodation," she said.