(Discussion) Rs 500 and Rs 1000 notes will no longer be legal tender, says PM Modi
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8:32 pm: A new series of Rs. 500 currency notes and Rs. 2000 currency notes will be brought into circulation.
8:31 pm: Banks will be closed on November 9.
8:30 pm: There is no restrictions on internet banking, cash, demand draft transactions.
8:27 pm: Rs 10,000 daily cash withdrawal and Rs 20,000 weekly cash withdrawal limit
8:25 pm: There are, however, some exemptions. Government hospitals and international airports.
8:22 pm: The ATMs will not function till November 9, and in some places till November 10.
8:21 pm: People who possess Rs.500 or Rs. 1000 currency notes after December 30 can exchange it at Reserve Bank of India by providing a declaration. This is till March 31, 2017.
8:20 pm: These notes should be exchanged in banks and head post offices and sub post office within December 30, 2016, by providing a valid identity proof such as Aadhaar, PAN card or voter ID card.
8:15 pm: From midnight of November 8, 2016, Rs. 500 and Rs.1000 will cease to be legal tender. “These notes are just papers from tomorrow,” says the prime minister.
8:11 pm: Prime Minister says Rs. 500 and Rs.1000 are notes are mostly used in black money.
8:10 pm: Corruption, black money and terrorism can come in the way of a country’s robust economic growth, says the Prime Minister.
8:07 pm: He moves on from corruption to terrorism. He tells “terrorsists from across the border” are spreading counterfeit currency notes.
8:06 pm: We hear stories of how autorickshaw driver returns gold left by a passenger in his vehicle. These stories tell how common people are honest. It is only a few people engage in corruption for selfish reasons, he says.
8:05 pm: Corruption and black money are the biggest hindrances in the fight against poverty, he says adding that it is everyone’s responsibility to eradicate poverty.
8:04 pm: Mr. Modi lists out the various schemes launched by NDA government in his address to the nation. He mentions the Jan Dhan Yojana.
8:03 pm: This govt is dedicated to the poor, and will continue to do so, says the Prime Minister who completes two-and-a-half years of rule today.
8:02 pm: India has registered itself as a bright spot, and its not that this is a claim made by us, but by IMF and World Bank
8:01 pm: When we were elected in 2014, there was a discussion that among BRICS nations, the ‘I’ was wobbling, says the PM.
8:00 pm: The Prime Minister’s address to the nation has begun.
Official Press Release: http://pib.nic.in/newsite/erelease.aspx?relid=....
Deal Wiki
Share your opinion with Dimers and ask any questions you might have around the Historic Announcement.
Historic announcements on ending corruption and black money by PM; Five hundred and one thousand rupee notes will no longer be legal tender from midnight tonight
Too Serious Discussion for You? Lighten up here: http://www.desidime.com/forums/dost-and-dimes/t...
@ymind13 wrote:
@Magus wrote:
@ymind13 wrote:
Some articles worth reading -
http://www.thecitizen.in/index.php/NewsDetail/i...
Demonetization: Witless and Anti-People
PRABHAT PATNAIKWednesday, November 09,2016
NEW DELHI: Narendra Modi went on national television at 8 p.m. on November 8 to announce that from midnight of that very date, i.e. in a mere four hours’ time, 500 and 1000 rupee notes would cease to be legal-tender.
…
…it is as fatuous as it is against the people.
( Professor Prabhat Patnaik is a reputed economist and scholar. He is Professor Emeritus at Jawaharlal Nehru University and author of several books including The Value of Money, The Retreat to Unfreedom, A Theory of Imperialism(co-author Utsa Patnaik))
Wow! An excellent elaboration on what I said two days ago: https://www.desidime.com/forums/dost-and-dimes/t...
The essence of unearthing “black money” lies therefore in tracking down “black activities”, not in attacking money-holdings per se. And this requires honest, systematic, and painstaking investigation.
Exactly! After Ambani, Modi has given us all an even bigger lollipop! We asked for efficient administration. He shows us all sorts of circus stunts.
CC @DealSeeker @Stupendous Man @raven_kira @gsh57 @MovieSeeker @getready @ranjithsai01 @nsinghal @RichSoul @sidbhai
People are so blinded by the Modi wave/marketing that even a simple question like the logic behind Rs. 2000 note makes them hyper-national and I become anti-national.
Katju once said – 90% Indians are fool. I guess he was right.
EDIT: No, Katju was wrong. 100% fools here. As mentioned by @DealSeeker , had this happened in England or the US, people would have gone mad in the streets. We dumbos silently submitted and stood in queue. 
@ymind13
Yeah, this has nothing to do with anti-national. Blind bhakts want us to be blind. As they believe Modi will solve everything.
Sure he will.
He will definitely take care of our pain while flying in plane.
Was demonetization really a surprise/Secret ? ? ?
Even people are behaving like jerks now a days , arguing that they won’t accept electronic method of payments .. insisting on 100’s . Whole day wasted .. long lines at banks , none of the ATMs working .. nothing was planned .
Luckily at the end of the day .. after 1 hr turmoil at a HDFC ATM .. was able to see 100’s . #HappyIndian
@Magus wrote:Read this few days ago, heartning to see Dimers reading Prabhat Patnaik. There is one more today
@ymind13 wrote:
Some articles worth reading -
http://www.thecitizen.in/index.php/NewsDetail/i...
Demonetization: Witless and Anti-People
PRABHAT PATNAIK
Wednesday, November 09,2016
NEW DELHI: Narendra Modi went on national television at 8 p.m. on November 8 to announce that from midnight of that very date, i.e. in a mere four hours’ time, 500 and 1000 rupee notes would cease to be legal-tender.
…
…it is as fatuous as it is against the people.
( Professor Prabhat Patnaik is a reputed economist and scholar. He is Professor Emeritus at Jawaharlal Nehru University and author of several books including The Value of Money, The Retreat to Unfreedom, A Theory of Imperialism(co-author Utsa Patnaik))
Wow! An excellent elaboration on what I said two days ago: https://www.desidime.com/forums/dost-and-dimes/t...
The essence of unearthing “black money” lies therefore in tracking down “black activities”, not in attacking money-holdings per se. And this requires honest, systematic, and painstaking investigation.
Exactly! After Ambani, Modi has given us all an even bigger lollipop! We asked for efficient administration. He shows us all sorts of circus stunts.
CC @DealSeeker @Stupendous Man @raven_kira @gsh57 @MovieSeeker @getready @ranjithsai01 @nsinghal @RichSoul @sidbhai @thelion @GoogleCA @cybertechie @myliferockkss @goss8877 @deals44u @BUTTERFLYBOY @masthead1 @Plato @PaytmKaPoojari @saymyname @The Sniper @bk08 @raghupro @mr.lonely @gambitrite
@Magus
Here’s my understanding…
Pros:
1. The blocked currency will re-circulate when the asses settle down. That’s will boost the economy. That’s the most significant point. Gov needs money for various schemes. They first tried luring with Gold loan schemes which bombed, then they tried with banning the old currency, that didn’t helped much I guess but this drive will stimulate the economy.
2. All the fake currency will immediately cease to exist. It was a huge menace, got one fake Rs.1000 note today myself. 
Pakistani chutiyas and Dawud’s will loose their influence(atleast for a year)
Cons:
1. Black money will reduce just marginally. Why? The biggest stash is with the uber-rich who mostly have a long-term ‘jugaad’ to launder their money. This won’t affect them.
2. The middle-class who have small savings in their homes 5-10 lakhs for emergencies/marriages etc., saved over years are now being harassed. All middle-class women save and hide a little amount every month for rainy day, that’s not black money but showing the source as savings over years will be difficult for them. 2.5 lakhs deposit amount is too less, the amount should have been 5 lakhs.
3. Businesses are affected badly for short duration though.
4. As Swaminomics puts it, the purchasing power will be affected badly.
TLDR;
Economy will have more money for circulation. Fake currency will be gone. No affect on black money.
@parthponkiya8 no need to reply AAPTARDS as they are highly frustrated that there all black money is vanished and they can’t use it for punjab, Goa and other elections. even their Aaplogic states that Modi went to Japan just made his black money white. 
@Stupendous Man wrote:
@Magus
Here’s my understanding…
Pros:
1. The blocked currency will re-circulate when the asses settle down. That’s will boost the economy. That’s the most significant point. Gov needs money for various schemes. They first tried luring with Gold loan schemes which bombed, then they tried with banning the old currency, that didn’t helped much I guess but this drive will stimulate the economy.
2. All the fake currency will immediately cease to exist. It was a huge menace, got one fake Rs.1000 note today myself.Cons:
1. Black money will reduce just marginally. Why? The biggest stash is with the uber-rich who mostly have a long-term ‘jugaad’ to launder their money. This won’t affect them.
2. The middle-class who have small savings in their homes 5-10 lakhs for emergencies/marriages etc., saved over years are now being harassed. All middle-class women save and hide a little amount every month for rainy day, that’s not black money but showing the source as savings over years will be difficult for them. 2.5 lakhs deposit amount is too less, the amount should have been 5 lakhs.
3. Businesses are affected badly for short duration though.
4. As Swaminomics puts it, the purchasing power will be affected badly.TLDR;
Economy will have more money for circulation. Fake currency will be gone. No affect on black money.
The whole thing started with curbing the fake currency but later someone put the black money angle to it and then everyone forgot about fake money.
My view point is people(middle-class) would be more money aware from now onwards. People would prefer digital payment over cash which is good for our economy.
@saymyname wrote:Indian economy is always our economy
@Stupendous Man wrote:
@Magus
Here’s my understanding…
Pros:
1. The blocked currency will re-circulate when the asses settle down. That’s will boost the economy. That’s the most significant point. Gov needs money for various schemes. They first tried luring with Gold loan schemes which bombed, then they tried with banning the old currency, that didn’t helped much I guess but this drive will stimulate the economy.
2. All the fake currency will immediately cease to exist. It was a huge menace, got one fake Rs.1000 note today myself.
Cons:
1. Black money will reduce just marginally. Why? The biggest stash is with the uber-rich who mostly have a long-term ‘jugaad’ to launder their money. This won’t affect them.
2. The middle-class who have small savings in their homes 5-10 lakhs for emergencies/marriages etc., saved over years are now being harassed. All middle-class women save and hide a little amount every month for rainy day, that’s not black money but showing the source as savings over years will be difficult for them. 2.5 lakhs deposit amount is too less, the amount should have been 5 lakhs.
3. Businesses are affected badly for short duration though.
4. As Swaminomics puts it, the purchasing power will be affected badly.
TLDR;
Economy will have more money for circulation. Fake currency will be gone. No affect on black money.
The whole thing started with curbing the fake currency but later someone put the black money angle to it and then everyone forgot about fake money.
My view point is people(middle-class) would be more money aware from now onwards. People would prefer digital payment over cash which is good for the economy.
Courtesy Usha Pandit
All those who are enamored of the Demonetization do read on:
The Masterstroke Policy of Demonetization:
The media is hailing Modi’s demonetization of old 500 and 1000Rs note as a masterstroke policy on curbing the menace of black money.
Really??
Hmmmm.
Let’s have a look into few figures.
• What if I told you that total Bad Loans of Indian Banks right now is close to Rs. 6,00,000 crore.
• What if I told you that PSU Banks are in a miserable condition right now, and need immediate infusion of money to shore up their lending capacities?
• What if I told you that few weeks back credit rating agency Moody’s had stated that Indian Banks require Rs. 1.25 lakh crore capital infusion?
• What if I told you that in July 2016 the Centre injected 23,000 crore into 13 Public Sector Banks?
• What if I told you that Jaitley said it in 2015 that the Centre would pump in more than 70,000 crore in PSU banks in coming 4 years?
And.
What if I told you that this demonetization is nothing but a measure to infuse money in those ailing Banks so as to shore up their lending capacities?
.
Can’t you see people queuing up banks to deposit their hard earned money, waiting hours for their turn?
What other “Masterstroke” would have made this possible?
Just trigger the panic button by stating that your old 500 and 1000Rs. currency is no longer a valid legal tender, and
Voila!!! People are queuing up since morning to deposit their hard earned money.
What for?
To curb the menace of black money? By bringing in new Rs. 2000 note?
You don’t curb black money by bringing in notes of higher denomination.
In fact, you are now simplifying hoarding of black money by bringing in new notes of higher denomination.
.
Ok. So what would banks do with the fresh infusion of money from public pockets?
Lend of course. That’s what their business is.
And to whom would these banks then lend their money to?
You? Me?
So sweet of you :p
.
You are in the deposit queue dear.
.
The following are in withdrawal queue:
(Note: the figures in bracket are their present repayable amount which they owe to various banks)
10. GVK Reddy (GVK Group) (33933 Crores)
9. Venugopal Dhoot (Videocon Group) (45405 Crores)
8. L. Madhusoodan Rao (Lanco Group) (47102 Crores)
7. G M Rao (GMR Group) (47976 Crores)
6. Sajjan Jindal (JSW Group) (58171 Crores)
5. Manoj Gour (Jaypee Group) (75163 Crores)
4. Goutam Adani (Adani Group) (96031 Crores)
3. Shashi Ruia & Ravi Ruia (Essar Group) (101000 Crores)
2. Anil Aggarwal (The Vedanta Group) (103000 Crores)
And
Finally
1. Anil Ambani (Reliance Group)(125000 Crores)
The govt. just carried out a surgical strike in your pockets, and now you are running like chickens.
That’s how crony capitalism works.
Now call me whatever you like- Marxist, Communist, Anarchist, Congi agent, Conspiracy theorist blah blah blah :p
@enapster wrote:
Courtesy Usha Pandit
All those who are enamored of the Demonetization do read on:
The Masterstroke Policy of Demonetization:
The media is hailing Modi’s demonetization of old 500 and 1000Rs note as a masterstroke policy on curbing the menace of black money.
Really??
Hmmmm.
Let’s have a look into few figures.
• What if I told you that total Bad Loans of Indian Banks right now is close to Rs. 6,00,000 crore.
• What if I told you that PSU Banks are in a miserable condition right now, and need immediate infusion of money to shore up their lending capacities?
• What if I told you that few weeks back credit rating agency Moody’s had stated that Indian Banks require Rs. 1.25 lakh crore capital infusion?
• What if I told you that in July 2016 the Centre injected 23,000 crore into 13 Public Sector Banks?
• What if I told you that Jaitley said it in 2015 that the Centre would pump in more than 70,000 crore in PSU banks in coming 4 years?
And.
What if I told you that this demonetization is nothing but a measure to infuse money in those ailing Banks so as to shore up their lending capacities?
.
Can’t you see people queuing up banks to deposit their hard earned money, waiting hours for their turn?
What other “Masterstroke” would have made this possible?
Just trigger the panic button by stating that your old 500 and 1000Rs. currency is no longer a valid legal tender, and
Voila!!! People are queuing up since morning to deposit their hard earned money.
What for?
To curb the menace of black money? By bringing in new Rs. 2000 note?
You don’t curb black money by bringing in notes of higher denomination.
In fact, you are now simplifying hoarding of black money by bringing in new notes of higher denomination.
.
Ok. So what would banks do with the fresh infusion of money from public pockets?
Lend of course. That’s what their business is.
And to whom would these banks then lend their money to?
You? Me?
So sweet of you :p
.
You are in the deposit queue dear.
.
The following are in withdrawal queue:
(Note: the figures in bracket are their present repayable amount which they owe to various banks)
10. GVK Reddy (GVK Group) (33933 Crores)
9. Venugopal Dhoot (Videocon Group) (45405 Crores)
8. L. Madhusoodan Rao (Lanco Group) (47102 Crores)
7. G M Rao (GMR Group) (47976 Crores)
6. Sajjan Jindal (JSW Group) (58171 Crores)
5. Manoj Gour (Jaypee Group) (75163 Crores)
4. Goutam Adani (Adani Group) (96031 Crores)
3. Shashi Ruia & Ravi Ruia (Essar Group) (101000 Crores)
2. Anil Aggarwal (The Vedanta Group) (103000 Crores)
And
Finally
1. Anil Ambani (Reliance Group)(125000 Crores)
The govt. just carried out a surgical strike in your pockets, and now you are running like chickens.
That’s how crony capitalism works.
Now call me whatever you like- Marxist, Communist, Anarchist, Congi agent, Conspiracy theorist blah blah blah :p
Sahi pakda hain, bechara hum Indian log
Lot of interesting views on this thread. I’m currently holidaying in a small town in Kerala. I was able to exchange 1000 rs notes with 100 rs notes without much difficulty here . Kerala is one of those states where BJP doesn’t have much presence but in-spite of that, people around here are still happy with the fact that PM has taken a decision that will benefit the nation . I do see some crowd in front of banks and ATM’s but people are not much fussy about it. Most of the stores here are not accepting 500 and 1000 rs notes.
@cybertechie wrote:
Lot of interesting views on this thread. I’m currently holidaying in a small town in Kerala. I was able to exchange 1000 rs notes with 100 rs notes without much difficulty here . Kerala is one of those states where BJP doesn’t have much presence but in-spite of that, people around here are still happy with the fact that PM has taken a decision that will benefit the nation . I do see some crowd in front of banks and ATM’s but people are not much fussy about it. Most of the stores here are not accepting 500 and 1000 rs notes.
Stockholm Syndrome everywhere in India! Benefit the nation? Can you explain how? This one time cleanup activity will not bring any long term benefits. The system of corruption and black money will get re-established with the new notes! One of the prime targets for this act were the opposition parties in Punjab and UP. BJP knew about this beforehand, so they are prepared.
@enapster wrote:
Courtesy Usha Pandit
…
.
You are in the deposit queue dear.
.
The following are in withdrawal queue:
(Note: the figures in bracket are their present repayable amount which they owe to various banks)
10. GVK Reddy (GVK Group) (33933 Crores)
9. Venugopal Dhoot (Videocon Group) (45405 Crores)
8. L. Madhusoodan Rao (Lanco Group) (47102 Crores)
7. G M Rao (GMR Group) (47976 Crores)
6. Sajjan Jindal (JSW Group) (58171 Crores)
5. Manoj Gour (Jaypee Group) (75163 Crores)
4. Goutam Adani (Adani Group) (96031 Crores)
3. Shashi Ruia & Ravi Ruia (Essar Group) (101000 Crores)
2. Anil Aggarwal (The Vedanta Group) (103000 Crores)
And
Finally
1. Anil Ambani (Reliance Group)(125000 Crores)
The govt. just carried out a surgical strike in your pockets, and now you are running like chickens.
That’s how crony capitalism works.
Now call me whatever you like- Marxist, Communist, Anarchist, Congi agent, Conspiracy theorist blah blah blah :p
WTF! 
Still people support BJP! Just because they are saffron? What good is a religious/political/economic ideology which allows a few enjoy life at the expense of a lot others! Such people are no better than b*s. 
Can someone answer my queries -
1. Have the RBI / banks demolished transaction limits on banks / ATMs ? like 3/5 transactions , 40 transactions per month ?
2. Any overage withdrawals (because of 2K) limit will chargeable i.e 18/20 Rs per txn & latter banks will also charge DFS charges , etc .
If these cases still apply , then its big shame on govt / RBI . They have created havoc in common people lives without even caring a bit .. forget standing in endless lines running pillar / post .. begging people to accept digital currency .
@bk08 wrote:
Can someone answer my queries -
1. Have the RBI / banks demolished transaction limits on banks / ATMs ? like 3/5 transactions , 40 transactions per month ?
2. Any overage withdrawals (because of 2K) limit will chargeable i.e 18/20 Rs per txn & latter banks will also charge DFS charges , etc .If these cases still apply , then its big shame on govt / RBI . They have created havoc in common people lives without even caring a bit .. forget standing in endless lines running pillar / post .. begging people to accept digital currency .
Check with your bank. ICICI has removed some charges up till 30th Nov & others up till 31st December
Ditto for Axis. Don’t know about others
@bk08 wrote:
Can someone answer my queries -
1. Have the RBI / banks demolished transaction limits on banks / ATMs ? like 3/5 transactions , 40 transactions per month ?
2. Any overage withdrawals (because of 2K) limit will chargeable i.e 18/20 Rs per txn & latter banks will also charge DFS charges , etc .If these cases still apply , then its big shame on govt / RBI . They have created havoc in common people lives without even caring a bit .. forget standing in endless lines running pillar / post .. begging people to accept digital currency .
Dude, people are spending hours at ATMs and Bank to get enough cash for the survival. Considering that, those transaction charges are something with least priority at moment for many.
I have a feeling that India is going through a recession stage and govt just doing it for getting more deposit at banks. I don’t know I’m speculating too much or not.
@enapster wrote:
Stockholm Syndrome everywhere in India! Benefit the nation? Can you explain how? This one time cleanup activity will not bring any long term benefits. The system of corruption and black money will get re-established with the new notes! One of the prime targets for this act were the opposition parties in Punjab and UP. BJP knew about this beforehand, so they are prepared.
Seriously i don’t have the time to explain how demonetization will benefit the nation. This topic has been discussed to death in various forums and media. More than black money, it’s fake currency that hurts the country most in terms of hawala funding, terrorist activities, drug trafficking etc. At-least the government is trying something to curb FICN menace that has plagued this nation for decades.
If you got better ideas than the government, why not stop being a keyboard warrior and step outside your cozy home and start fighting elections. my vote will be for you.
@bk08 wrote:
Can someone answer my queries -
1. Have the RBI / banks demolished transaction limits on banks / ATMs ? like 3/5 transactions , 40 transactions per month ?
2. Any overage withdrawals (because of 2K) limit will chargeable i.e 18/20 Rs per txn & latter banks will also charge DFS charges , etc .If these cases still apply , then its big shame on govt / RBI . They have created havoc in common people lives without even caring a bit .. forget standing in endless lines running pillar / post .. begging people to accept digital currency .
They might not allow you to withdraw more than 2k even if you are willing to pay extra charges. As far as I know ICICI has taken steps to waive off certain charges.
@RichSoul wrote:
I have a feeling that India is going through a recession stage and govt just doing it for getting more deposit at banks. I don’t know I’m speculating too much or not.
During recession, you wan’t consumers to spend more not to deposit more money in bank. If people start holding on to money without spending( current scenario), it will only worsen the economic situation.
@Magus wrote:
@enapster wrote:
Courtesy Usha Pandit
…
.
You are in the deposit queue dear.
.
The following are in withdrawal queue:
(Note: the figures in bracket are their present repayable amount which they owe to various banks)
10. GVK Reddy (GVK Group) (33933 Crores)
9. Venugopal Dhoot (Videocon Group) (45405 Crores)
8. L. Madhusoodan Rao (Lanco Group) (47102 Crores)
7. G M Rao (GMR Group) (47976 Crores)
6. Sajjan Jindal (JSW Group) (58171 Crores)
5. Manoj Gour (Jaypee Group) (75163 Crores)
4. Goutam Adani (Adani Group) (96031 Crores)
3. Shashi Ruia & Ravi Ruia (Essar Group) (101000 Crores)
2. Anil Aggarwal (The Vedanta Group) (103000 Crores)
And
Finally
1. Anil Ambani (Reliance Group)(125000 Crores)
The govt. just carried out a surgical strike in your pockets, and now you are running like chickens.
That’s how crony capitalism works.
Now call me whatever you like- Marxist, Communist, Anarchist, Congi agent, Conspiracy theorist blah blah blah :p
WTF!
Still people support BJP! Just because they are saffron? What good is a religious/political/economic ideology which allows a few enjoy life at the expense of a lot others! Such people are no better than b*s.
Why are people jumping at conjectures? Way to derive milege out of the existing anger/frustration because of not a so cleanly executed operation. Doesn’t RBI come under RTI, RTIs would be filled in huge numbers and based on the details one could derive hypothesis. Right? Why derive theories from thin air.
PS : upon googling RBI does come under RTI.
http://indianexpress.com/article/business/busin...
@bk08 wrote:
Can someone answer my queries -
1. Have the RBI / banks demolished transaction limits on banks / ATMs ? like 3/5 transactions , 40 transactions per month ?
2. Any overage withdrawals (because of 2K) limit will chargeable i.e 18/20 Rs per txn & latter banks will also charge DFS charges , etc .If these cases still apply , then its big shame on govt / RBI . They have created havoc in common people lives without even caring a bit .. forget standing in endless lines running pillar / post .. begging people to accept digital currency .
Just visit your bank (any branch) and make a 10k withdrawal request either via cheque or via card swipe (20k limit per week)
Its not about ATMs all the time, and also as of now most of the ATMs are not operational
As @sbdtrial mentioned, ICICI removed transaction charges and doubled the transaction limit
@getready wrote:
@bk08 wrote:
Can someone answer my queries -
1. Have the RBI / banks demolished transaction limits on banks / ATMs ? like 3/5 transactions , 40 transactions per month ?
2. Any overage withdrawals (because of 2K) limit will chargeable i.e 18/20 Rs per txn & latter banks will also charge DFS charges , etc .If these cases still apply , then its big shame on govt / RBI . They have created havoc in common people lives without even caring a bit .. forget standing in endless lines running pillar / post .. begging people to accept digital currency .
Just visit your bank and make a 10k withdrawal request either via cheque or via card swipe
Its not about ATMs all the time, as of now most of the ATMs are not operational
Very easy to write or say , tried yesterday at my SBI branch …there was some 6 hrs long queue … da faq , no do or die situation , opting for a tirupati darshan looks way better now .
@bk08 wrote:
Even people are behaving like jerks now a days , arguing that they won’t accept electronic method of payments .. insisting on 100’s . Whole day wasted .. long lines at banks , none of the ATMs working .. nothing was planned .
Luckily at the end of the day .. after 1 hr turmoil at a HDFC ATM .. was able to see 100’s . #HappyIndian
Very easy if you plan it well
Ref : https://www.desidime.com/forums/dost-and-dimes/t...
My token number was around 20 started to wait outside the branch entrance from 8:45am, and by the time i was leaving the bank @ 10:15am, the current token number thats being issued was 300+
PS: The bank is situated in a very busy area, 1km from tech parks in bangalore
@cybertechie wrote:
Lot of interesting views on this thread. I’m currently holidaying in a small town in Kerala. I was able to exchange 1000 rs notes with 100 rs notes without much difficulty here . Kerala is one of those states where BJP doesn’t have much presence but in-spite of that, people around here are still happy with the fact that PM has taken a decision that will benefit the nation . I do see some crowd in front of banks and ATM’s but people are not much fussy about it. Most of the stores here are not accepting 500 and 1000 rs notes.
Kerala is the one of the Fantastic state in india
I heard
Very clean and
Aap apna bag station per chor de din bhar kaam kar aaye aur sham aapka bag vahi milega nobody will touch
@blue wine wrote:
@cybertechie wrote:
Lot of interesting views on this thread. I’m currently holidaying in a small town in Kerala. I was able to exchange 1000 rs notes with 100 rs notes without much difficulty here . Kerala is one of those states where BJP doesn’t have much presence but in-spite of that, people around here are still happy with the fact that PM has taken a decision that will benefit the nation . I do see some crowd in front of banks and ATM’s but people are not much fussy about it. Most of the stores here are not accepting 500 and 1000 rs notes.
Kerala is the one of the Fantastic state in india
I heard
Very clean and
Aap apna bag station per chor de din bhar kaam kar aaye aur sham aapka bag vahi milega nobody will touch
@RichSoul wrote:
I have a feeling that India is going through a recession stage and govt just doing it for getting more deposit at banks. I don’t know I’m speculating too much or not.
Yes we are going through a recession
Gov not doing for Just getting deposit at bank
Government wants accounting for unaccounted money thats it
So government can get lots of money and they can spend wherever they want
![Butterfly Rapid Omni Tawa, Kadai & Fry Pan Combo Cookware Set [Location Specific]](https://cdn0.desidime.com/topics/photos/1792561/medium/rapid-ib-kcp-3-butterfly-original-imaftw7bhehysxkk.jpeg?1716050789)
 Rs 500 and Rs 1000 notes will no longer be legal tender, says PM Modi for Rs. at Government of India){kind=link}
 Rs 500 and Rs 1000 notes will no longer be legal tender, says PM Modi for Rs. at Government of India){kind=link}
@Magus – Haha! And see what’s going on Twitter:
That hashtag is trending in India! People attacking Modi.
Because they have finally realized how dumb this move was. And now they are questioning, arguing, and crying.
Like I said, middle class will suffer from this. And we just got started.
Modi created one of the history’s biggest joke with this new policy… and to make it worse, this joke is NOT at all funny.