Hotness Demonetisation: Nearly Rs 13 lakh crore back in...

Hot Deal Demonetisation: Nearly Rs 13 lakh crore back in the banking system....

533°
Ori
Deal Major
116
19053
185

http://www.moneycontrol.com/news/cnbc-tv18-comm...

Nearly a month after Prime Minister Narendra Modi announced the government’s demonetisation drive, close to Rs 13 lakh crore worth the-now-invalid currency notes has been deposited into the banking system, sources told CNBC-TV18. The revised estimates of Finance Ministry and the Reserve Bank of India pegged derecognised currency — Rs 500 and Rs 1,000 notes —at about Rs 15. 5 lakh crore. The government had estimated the tender at around Rs 13-14 lakh crore earlier. According to RBI, bank deposits stood at Rs 8.5 lakh crore on November 27 and Rs 5.4 lakh crore on November 18. CNBC-TV18’s queries to the RBI on the release of latest bank deposit numbers went unanswered. Meanwhile, the government machinery has sprung to action in a bid to catch offenders. The Prime Minister’s Office has asked the Finance Ministry and RBI to submit a daily status report on banking activity. The Income Tax and Excise departments, Directorate of Revenue Intelligence and Enforcement Directorate are also ramping up investigations against possible offenders.

51 Comments  |  
21 Dimers
Ori
Deal Major
116
19053
185

So even RBI have no clear figure about the money(500/1000) in market circulation, they are changing estimates https://cdn3.desidime.com/assets/textile-editor/icon_cool.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

I am sure they will change figure to at least 18-20 lakh crores or even more after 31st december….

Also this is clear indication and we all know that people do not keep black money in cash form rather they buy real estate properties and other assets like gold & jewellery.

Chhota bheem
Deal Lieutenant
222
4344
42
Original wrote:

So even RBI have no clear figure about the money(500/1000) in market circulation, they are changing estimates https://cdn3.desidime.com/assets/textile-editor/icon_cool.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

This is the Power of Sharad Power https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

#jk

Hamster
Entertainer
103
14790
367

13.7 lacs crore latest unofficial figure out of 15.4 lacs crore total circulated money.

The reason black money jumla turned into cashless jumla. 23 days left and just few lac crore left in system. Chale the black money nibtaane 90 log nibta diye line mein. https://cdn3.desidime.com/assets/textile-editor/icon_sad.gif

Images
suspended
387
9530
101

But where is the data for loss due to closed businesses and loss of man-hours? This is just one-sided data.

Giphy
Deal Cadet
51
108
41

modi and its puppets are arrogant idiots
.very impulsive decision from vote hungry politicians.
my fellow indians are made to suffer too much in name of nationalism

CON: * THERE WAS NEGLIGIBLE BLACK MONEY IN SYSTEM

Shutterstock 1013504321
Deal Lieutenant
62
3564
40
StupendousMan wrote:

But where is the data for loss due to closed businesses and loss of man-hours? This is just one-sided data.

Kisi Ka Loss to Kisi ka Fayda

Money Qty Remains the same

Shutterstock 1013504321
Deal Lieutenant
62
3564
40

Main Reason for Big Figure is Duplicate currency which Bank not able to Verify

Thus If Its go beyond 1 Lakh crore RBI Issued Money It would be Big trouble for RBI since they have to Keep that much Security for that

Images
suspended
387
9530
101
Expand
bluewine wrote:

Kisi Ka Loss to Kisi ka Fayda

Money Qty Remains the same

Kiska fayda wahi to assessment karo

Images
Entertainer
45
34832
352
bluewine wrote:

Main Reason for Big Figure is Duplicate currency which Bank not able to Verify

Thus If Its go beyond 1 Lakh crore RBI Issued Money It would be Big trouble for RBI since they have to Keep that much Security for that

Agli Surgical Strike mein 100-150 MIG se Islamabad ke oopar barsaat kar aayein yeh saare 500-1000 ke notes ki. Le kamine Pakistan le ise apni currency bana le.

Shutterstock 1013504321
Deal Lieutenant
62
3564
40
Expand
StupendousMan wrote:

Kiska fayda wahi to assessment karo

chartered accountant valo ka https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif

Missing
suspended
201
188
4
Original wrote:

So even RBI have no clear figure about the money(500/1000) in market circulation, they are changing estimates https://cdn3.desidime.com/assets/textile-editor/icon_cool.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

I am sure they will change figure to at least 18-20 lakh crores or even more after
31st december….

Also this is clear indication and we all know that people do not keep black money in cash form rather they buy real estate properties and other assets like gold & jewellery.

but in heart of hearts this was expected!

it doesn’t take much brains to know that except for money that was REALLY lost (like lets say the Kedarnath floods, quake or in fires or explosions in big units) the rest would eventually get back into the system.

Even the numbers would bust was estimated and reported earlier.
The fairy tale dream to profit from lost (vanished) money is just that, a dream. http://economictimes.indiatimes.com/news/politi...

Missing
suspended
201
188
4
tanyarohira24 wrote:

modi and its puppets are arrogant idiots
.very impulsive decision from vote hungry politicians.
my fellow indians are made to suffer too much in name of nationalism

CON: * THERE WAS NEGLIGIBLE BLACK MONEY IN SYSTEM

back after a long time Emma! https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif https://cdn0.desidime.com/attachments/photos/446375/medium/3736998hermione-gif-emma-watson-1.gif?1481110237

well someone did mention above the chances of counterfeit currency sneaking in those returns.

That having been said, inflation and unaccounted money are one of the keygrowth drivers of any economy.
So it is not that we were growing without a good lot of it (black money). There is, there was and there always will be a lot of black money in the system.

the current cat and mouse game would play on for a while though (the new Benami Assets Act).
The other stated objective of defeating terror financing will unfortunately be undone in matter of months (if not weeks).
Karachi, Lahore and PRC wouldn’t sit back. They get geared to making FICN.

Missing
Deal Lieutenant
277
5252
78

I read that they were only expecting some 10 lakh odd crores to be deposited and the govt would make windfall gains which they could get as a ‘special dividend’ from RBI. But now that more money has entered than they were expecting it is turning out to be a disaster. Estimates suggest that at least 1lakh+ crore would be the expenses incured by govt due to this demonetization stint. Now unless and until they tighten the screws to find out how much of black money has entered back the system, they have put the economy in a grave danger. They have incurred expenses for which they don’t have money.

I might be ignorant but who other than politicians would keep hard cash in tons forever? Won’t they invest in the ‘darling’ real estate or gold as has been done from decades? Either the govt made a wrong decision or they just wanted to pull the money back into the system to ‘recapitalize’ banks. Anyway we don’t have to wait for long to know the results https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

Hamster
Entertainer
103
14790
367
rsai01 wrote:

I read that they were only expecting some 10 lakh odd crores to be deposited and the govt would make windfall gains which they could get as a ‘special dividend’ from RBI. But now that more money has entered than they were expecting it is turning out to be a disaster. Estimates suggest that at least 1lakh+ crore would be the expenses incured by govt due to this demonetization stint. Now unless and until they tighten the screws to find out how much of black money has entered back the system, they have put the economy in a grave danger. They have incurred expenses for which they don’t have money.

I might be ignorant but who other than politicians would keep hard cash in tons forever? Won’t they invest in the ‘darling’ real estate or gold as has been done from decades? Either the govt made a wrong decision or they just wanted to pull the money back into the system to ‘recapitalize’ banks. Anyway we don’t have to wait for long to know the results https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

Plan was to take away common man’s savings and loan that amount to adanis and ambanis. And everything is working as per plan. This is what economic affairs secretary has to say a few minutes ago

https://twitter.com/ANI_news/status/80646243457...

Knowing that NPA rose to levels of 20-25% in some banks and recapitalization plan by Jaitley wasn’t feasible moreover there was no cash to bail out banks, government found easiest way to fool people. Only thing is they didn’t do homework well. Now we are suffering. Illiquidty shall stay for atleast a year now as slow note printing and limits on withdrawal will stay till things are normal.

Missing
Deal Lieutenant
277
5252
78
Expand
marketdimer wrote:

Plan was to take away common man’s savings and loan that amount to adanis and ambanis. And everything is working as per plan. This is what economic affairs secretary has to say a few minutes ago

https://twitter.com/ANI_news/status/80646243457...


Knowing that NPA rose to levels of 20-25% in some banks and recapitalization plan by Jaitley wasn’t feasible moreover there was no cash to bail out banks, government found easiest way to fool people. Only thing is they didn’t do homework well. Now we are suffering. Illiquidty shall stay for atleast a year now as slow note printing and limits on withdrawal will stay till things are normal.

Yeah spot on. They know once the household income enters formal banking it would most likely stay there as FD for a long time. Basel III is coming too and now they could recapitalize banks also. In fact the private capex itself has not picked up and pvt players have parked their funds in bonds and other instruments due to lack of confidence. Govt wants our money to kick start the capex cycle and again there will be new Mallyas lazing cosily in their England holiday homes https://cdn1.desidime.com/assets/textile-editor/icon_sad.gif

Missing
suspended
201
188
4
@ranjithsai01 wrote:

I read that they were only expecting some 10 lakh odd crores to be deposited and the govt would make windfall gains which they could get as a ‘special dividend’ from RBI. But now that more money has entered than they were expecting it is turning out to be a disaster. Estimates suggest that at least 1lakh+ crore would be the expenses incured by govt due to this demonetization stint. Now unless and until they tighten the screws to find out how much of black money has entered back the system, they have put the economy in a grave danger. They have incurred expenses for which they don’t have money.

to an extent true. the foresight was not there. it was a shot in the dark.


although it is plain stupid to think Indians will let go of their money.


have heard almost first person accounts of wealthy families going on hawala junkets to Dubai or Middle East, just so they could bring Dirhams in batches, against the cash paid locally to the hawala operators.


and this was despite taking minimum 25-30% hit (the operators charge that much).

@ranjithsai01 wrote:

I might be ignorant but who other than politicians would keep hard cash in tons forever? Won’t they invest in the ‘darling’ real estate or gold as has been done from decades? Either the govt made a wrong decision or they just wanted to pull the money back into the system to ‘recapitalize’ banks. Anyway we don’t have to wait for long to know the results

i doubt if anyone (including politicians and especially politicians) would want to idle large stasges of cash.
ofcourse, the election season is another matter.
But most funds get redeployed fast or atleast parked in the system.

if you read up on Shri. Mahesh Shah you’d know how it goes.
[though he declared 13500 crores in IDS, mostly he was a conduit only].


and about gains from banking:
I guess they are trying to squeeze out some funding by way of forcing it upon them to invest in (buy) Gsecs.


coupled with interest rate tweaks the demonetisation fumble, will help them save face when things go in a tailspin after the GST mess gets bigger.

Avatar
Deal Subedar
81
1646
31

Failure of Modi’ji Stupid plan..

Now he is responsible for 80+ death and poor Economy

Offtopic:
they started a New drama to hide their failure.

https://cdn0.desidime.com/attachments/photos/446396/medium/3737440loan.png?1481121878
upload an image

Before they say it as Black money, NOW its a failure plan, so changed the word “Black Money” as “Domestic Savings” lolz…

Bharat matha’ki jai – Modi’ji ki fail

Independence day15
Blogger
0
4115
55

If positive outcome is less than negative ones then it will hit badly to govt . jaitley ki chhutti ?
However still 22 more days then govt will have to tell what India achieved with this strike !! For getting results banks should be cross checked where the new notes were given bcoz bank managers played a big role in it .

But also I can’t understand 1 thing some ppl saying it is scam of 8 lakh crore rs and all money deposited will be given to corporates etc type blames. But how ? People can get their money back and they can freely use deposited money via ATM cards or cheques . so base of this accusation ??
also dont forget CNBC is ambani’s channel .

Missing
Deal Cadet
110
611
33
Mirror wrote:

If positive outcome is less than negative ones then it will hit badly to govt . jaitley ki chhutti ?
However still 22 more days then govt will have to tell what India achieved with this strike !! For getting results banks should be cross checked where the new notes were given bcoz bank managers played a big role in it .

But also I can’t understand 1 thing some ppl saying it is scam of 8 lakh crore rs and all money deposited will be given to corporates etc type blames. But how ? People can get their money back and they can freely use deposited money via ATM cards or cheques . so base of this accusation ??
also dont forget CNBC is ambani’s channel .

Gov’t. Is following paytm strategy.. Instead of giving discount, paytm gives cashabck which mostly lies in wallet until used. Basically interest is earned that way..

Missing
Deal Newbie
50
20
0

Bro,,You hav lot of black money huh..?

Missing
Deal Lieutenant
277
5252
78
Mirror wrote:

If positive outcome is less than negative ones then it will hit badly to govt . jaitley ki chhutti ?
However still 22 more days then govt will have to tell what India achieved with this strike !! For getting results banks should be cross checked where the new notes were given bcoz bank managers played a big role in it .

But also I can’t understand 1 thing some ppl saying it is scam of 8 lakh crore rs and all money deposited will be given to corporates etc type blames. But how ? People can get their money back and they can freely use deposited money via ATM cards or cheques . so base of this accusation ??
also dont forget CNBC is ambani’s channel .

Definitely people are not being scammed (not directly at least). Just that the govt can use this money which otherwise was lying unused. Most of the household savings just was kept at home for those rainy days and not for consumption purpose. Now that it has entered the banking system they would think why get it back when they can get some interest and can withdraw when required. So good money will go into long term FDs which is used to recapitalize banks. That is what MR Das has told (the post above yours)

Napster icon
Critic
70
5448
107
Expand
rsai01 wrote:

Definitely people are not being scammed (not directly at least). Just that the govt can use this money which otherwise was lying unused. Most of the household savings just was kept at home for those rainy days and not for consumption purpose. Now that it has entered the banking system they would think why get it back when they can get some interest and can withdraw when required. So good money will go into long term FDs which is used to recapitalize banks. That is what MR Das has told (the post above yours)

Bhaktard spotted. Now that it is clear that Demonetization has not affected black money, BJP is coming up with other excuses – Savings lying idle at home will now earn interest and interest rates (for corporates) will come down! Absolute CRAP! Everyone know that money in a bank earns interest – Whoever keeps some amount of cash at home does so for a reason. Looks like India is moving towards dictatorship where an ordinary citizen can’t even decide how much cash to keep with him/her ??!!

Missing
Deal Lieutenant
277
5252
78
Expand
enapster wrote:

Bhaktard spotted. Now that it is clear that Demonetization has not affected black money, BJP is coming up with other excuses – Savings lying idle at home will now earn interest and interest rates (for corporates) will come down! Absolute CRAP! Everyone know that money in a bank earns interest – Whoever keeps some amount of cash at home does so for a reason. Looks like India is moving towards dictatorship where an ordinary citizen can’t even decide how much cash to keep with him/her ??!!

Take a chill pill kid. It’s beyond your IQ https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

Napster icon
Critic
70
5448
107
Expand
rsai01 wrote:

Take a chill pill kid. It’s beyond your IQ https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

IGNORING me again by responding??!! Excellent! You should sometimes listen to your own advice to ignore this kid enapster. If you yourself don’t listen your advice, how do you expect others to?

Missing
Deal Lieutenant
277
5252
78
Expand
enapster wrote:

IGNORING me again by responding??!! Excellent! You should sometimes listen to your own advice to ignore this kid enapster. If you yourself don’t listen your advice, how do you expect others to?

Don’t prove again that you have IQ of a middle schooler. I never responded to any of your ‘below IQ’ messages across various threads. I replied because you tried to show your ‘smartness’ by commenting to a reason for someone else.

You know a reasonable person would go back to my previous messages on this thread and check what I have told about this issue and then comment https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

Tip for you-
Schizophrenia has a strong hereditary component. Individuals with a first-degree relative (parent or sibling) who has schizophrenia have a 10 percent chance of developing the disorder, as opposed to the one percent chance of the general population.

Napster icon
Critic
70
5448
107
Expand
rsai01 wrote:

Don’t prove again that you have IQ of a middle schooler. I never responded to any of your ‘below IQ’ messages across various threads. I replied because you tried to show your ‘smartness’ by commenting to a reason for someone else.

You know a reasonable person would go back to my previous messages on this thread and check what I have told about this issue and then comment https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

Tip for you-
Schizophrenia has a strong hereditary component. Individuals with a first-degree relative (parent or sibling) who has schizophrenia have a 10 percent chance of developing the disorder, as opposed to the one percent chance of the general population.

You are contradicting yourself. An intelligent person like you has enough IQ to know that IQ doesn’t change as per the time of the day. You have to decide once and for all what my IQ is. You cannot change it as per your whims and fancies! When you advice others to ignore a kid like enapster, if you yourself do not follow your advice, how do you expect others to?

ps: Intelligent as you claim to be – why don’t you give you tips to the sibling of one who has it?

Missing
Deal Lieutenant
277
5252
78
Expand
enapster wrote:

You are contradicting yourself. An intelligent person like you has enough IQ to know that IQ doesn’t change as per the time of the day. You have to decide once and for all what my IQ is. You cannot change it as per your whims and fancies! When you advice others to ignore a kid like enapster, if you yourself do not follow your advice, how to do expect others to?

Hahaha. Read my post few times till you can comprehend else leave it https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

Edit-Now don’t try to hijack a good thread for your personal vendetta https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

Napster icon
Critic
70
5448
107
Expand
rsai01 wrote:

Hahaha. Read my post few times till you can comprehend else leave it https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

You are awesome! You have redefined “IGNORING”. I hope all others also ignore this kid with the IQ of a middle schooler by responding to each comment!

Napster icon
Critic
70
5448
107
Expand
rsai01 wrote:

Hahaha. Read my post few times till you can comprehend else leave it https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

Edit-Now don’t try to hijack a good thread for your personal vendetta https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

If only you had listened to YOUR own advice to IGNORE me, this hijacking would not have happened!


https://i.imgur.com/2NlFcyE.jpg

Missing