kabirthapar Posted January 18, 2017 Report Share Posted January 18, 2017 Hello everyone I would like to ask you all what are your views regarding the demonetization which took place in India recently. It’s a bold move by the Government and can be called as the Surgical strike of the Government on Black Money (add Terrorist funding, arms smuggling and Counterfeit currency to that). Your thoughts and comments regarding same. Will this be successful for Indian economy? Quote Link to comment Share on other sites More sharing options...
Michael Hardner Posted January 18, 2017 Report Share Posted January 18, 2017 A lot of countries are following the news of this move. Is it true that some people got very short notice to convert cash notes ? Quote Link to comment Share on other sites More sharing options...
TimG Posted January 19, 2017 Report Share Posted January 19, 2017 12 hours ago, kabirthapar said: Hello everyone I would like to ask you all what are your views regarding the demonetization which took place in India recently. It’s a bold move by the Government and can be called as the Surgical strike of the Government on Black Money (add Terrorist funding, arms smuggling and Counterfeit currency to that). Your thoughts and comments regarding same. Will this be successful for Indian economy? Everything I have read suggests it was a very dumb move that hurt the legions of poor Indians that keep their savings in cash. I don't understand why the phase out period was so short. Quote Link to comment Share on other sites More sharing options...
kabirthapar Posted January 20, 2017 Author Report Share Posted January 20, 2017 On 1/19/2017 at 4:20 AM, Michael Hardner said: A lot of countries are following the news of this move. Is it true that some people got very short notice to convert cash notes ? No notice was given for demonetization by the government. Suddenly on the night of 8 November 2016 The PM Narendra Modi announced the Demonetization. All and all total 50 days were given for exchanging of old 500 and 1000 rupee notes. Moreover there was a limit set for the exchange of notes. Everyday new policies were being setup by the government. Those who were actually possessing black money were not in trouble. The worst sufferers were the middle class and low class people. There was also a limit set for daily withdrawal which was just Rupees 2500 per day and 28000 a month. The worst thing was the coming of 2000 Rupee note. I mean that was absurd. the country was facing shortage of money due to demonetization and bigger currency were being introduced. This 2000 rupee note created more problems. In that phrase of 50 days many of the old age people died also standing in long queue from day and night. This demonetization hasn't benefited anyone in my view and will never will benefit anyone in future also. The prices of commodities have again gone up. hoping it will go up and up. Quote Link to comment Share on other sites More sharing options...
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