Demonetisation: Over-the-counter exchange of ol...

Demonetisation: Over-the-counter exchange of old notes suspended from November 25

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http://economictimes.indiatimes.com/news/econom...

After due consideration of all relevant aspects, the Central Government takes various decisions relating to certain operational aspects of the Scheme relating to cancellation of legal tender character of old Rs. 500 and Rs. 1000 notes; No over the counter exchange of old Rs. 500 and Rs. 1000 notes after midnight of 24.11.2016;.Certain other exemptions continued till 15th December, 2016 with certain additions and modifications.

The Central Government has been reviewing the issues related to the cancellation of legal tender character of old Rs. 500 and Rs. 1000 notes. The Government has also been receiving various suggestions in this regard. After due consideration of all relevant aspects, the following decisions relating to certain operational aspects of the Scheme have now been taken:

(i) It has been observed that over the counter exchange of the old currency notes of Rs. 500 and Rs. 1000 denomination has shown a declining trend. It has further been felt that people may be encouraged and facilitated to deposit their old Rs. 500 and Rs. 1000 notes in their bank accounts. This will encourage people who are still unbanked, to open new bank accounts. Consequently, there will be no over the counter exchange of old Rs. 500 and Rs. 1000 notes after midnight of 24.11.2016.

(ii) Government had also permitted various exemptions for certain transactions and activities wherein payment could be made through old Rs. 500 and Rs. 1000 notes. It has been decided that all these exemptions, with the additions and modifications as detailed below, may be continued for a further period from the midnight of 24.11.2016 up to and inclusive of 15.12.2016 :-

(a) Payments for the transactions under all the exempted categories will now be accepted only through old Rs. 500 notes;

(b) Payment of School fees up to Rs. 2000 per student in Central Government, State Government, Municipality and local body schools;

© Payment of fees in Central or State Government colleges;

(d) Payments towards pre paid mobile top-up to a limit of Rs. 500 per top-up;

(e) Purchase from Consumer Cooperative Stores will be limited to Rs. 5000 at a time;

(f) Payment of current and arrear dues to utilities will be limited to only water and electricity. This facility will continue to be available only for individuals and households;

(g) Considering that the Ministry of Road Transport and Highways have continued the toll free arrangement at the toll plazas up to 2.12.2016, it has been decided that toll payment at these toll plazas may be made through old Rs. 500 notes from 3.12.2016 to 15.12.2016.

(h) Foreign citizens will be permitted to exchange foreign currency up to Rs. 5000 per week. Necessary entry to this effect will be made in their passports. (Necessary instructions in this regard will be issued by the RBI.)

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Info: Exchange of old notes at the banks has been suspended! #Demonetization


Additional details: Paying with old notes at exempted places has been extended till Dec 15. But only 500 rupee notes would be accepted! 1000-rupee notes can only be deposited at the bank now.

Mortal kombat x scorpion
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In the above new rules from the govt, 1. Pharmaceuticals and Hospitals, 2. Train and Flight Tickets, and 3. corporation / municipal taxes (except water and Electricity charges) were not under the exempted category. So plan accordingly.

Ezio auditore  italy  1481 by justanor d2wovz1
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To be frank, the exchange had stopped a long time ago, most of the banks were denying any cash for exchange not even withdrawal!. The black Mafia have exchanged too many notes by employing gullible and poor people. https://cdn2.desidime.com/assets/textile-editor/icon_evil.gif It has been indeed a Tughlaqi decision of demonetisation. #Disappointed!

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Chemists will accept 500 notes?

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Ezio Auditore wrote:

To be frank, the exchange had stopped a long time ago, most of the banks were denying any cash for exchange not even withdrawal!. The black Mafia have exchanged too many notes by employing gullible and poor people. https://cdn2.desidime.com/assets/textile-editor/icon_evil.gif It has been indeed a Tughlaqi decision of demonetisation. #Disappointed!

black mafia have exchanged too many notes and tughlaqi decision both are different things
if some one still doing black mafiagiri ,it doesn’t prove this decision wrong

My personal view

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hitupsc2017651 wrote:

black mafia have exchanged too many notes and tughlaqi decision both are different things
if some one still doing black mafiagiri ,its doesn’t prove this decision wrong

My personal view

Why did you write so long answer you could have answered with only one word #BHAKTA https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

Definitely we could have received your personal view https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

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DealGuru wrote:

Why did you write so long answer you could have answered with only one word #BHAKTA https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

Definitely we could have received your personal view https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

so good to see you dg bhai. https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif

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DealGuru wrote:

Why did you write so long answer you could have answered with only one word #BHAKTA https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

Definitely we could have received your personal view https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

Thanks for your certificate 👍

Ezio auditore  italy  1481 by justanor d2wovz1
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hitupsc2017651 wrote:

black mafia have exchanged too many notes and tughlaqi decision both are different things
if some one still doing black mafiagiri ,its doesn’t prove this decision wrong

My personal view

Whatever but see they are changing rules everyday, I mean what is this?? One day 4000, then 4500, then 2000 and now complete stop. Seems they have completely missed how this decision will phase out and hence we can see shortage of notes now in banks, markets etc. No idea at all how will be the public reaction of demonetisation despite having the best economists, Ias officers etc.

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indeed they are not managed their decision properly

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what did the great grand Pm address on 8th november and what has been the outcome….
https://cdn2.desidime.com/assets/textile-editor/icon_evil.gif

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India is dying. This issue is getting really serious! I hope we dont witness riots like Supreme court has warned us about.

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19 Female Gurgaon wrote:

India is dying. This issue is getting really serious! I hope we dont witness riots like Supreme court has warned us about.

I raised my apprehensions about riots even before the supreme court did! Check the primary thread which got locked.

But this is India. And people are surprisingly showing a lot of patience for this superficial drama about curbing black money. https://cdn3.desidime.com/assets/textile-editor/icon_sad.gif

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DealSeeker wrote:

I raised my apprehensions about riots even before the supreme court did! Check the primary thread which got locked.

But this is India. And people are surprisingly showing a lot of patience for this superficial drama about curbing black money. https://cdn3.desidime.com/assets/textile-editor/icon_sad.gif

https://cdn1.desidime.com/assets/textile-editor/icon_eek.gif Why sad smiley? Do you really want riots?

If people are not happy, they will answer in next elections.

P.S. Checked again, yes it’s DealSeekers’s post. https://cdn1.desidime.com/assets/textile-editor/icon_sad.gif https://cdn1.desidime.com/assets/textile-editor/icon_sad.gif

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parthponkiya8 wrote:
https://cdn1.desidime.com/assets/textile-editor/icon_eek.gif Why sad smiley? Do you really want riots?

If people are not happy, they will answer in next elections.


P.S. Checked again, yes it’s DealSeekers’s post. https://cdn1.desidime.com/assets/textile-editor/icon_sad.gif https://cdn1.desidime.com/assets/textile-editor/icon_sad.gif

Bro, I didn’t put the sad emoticon after the statement about riots.

I am sad that people are so patient about this drama from the government despite the huge losses to the businesses/economy and inconvenience to the common people.

A2z1
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DealSeeker wrote:

I raised my apprehensions about riots even before the supreme court did! Check the primary thread which got locked.

But this is India. And people are surprisingly showing a lot of patience for this superficial drama about curbing black money. https://cdn3.desidime.com/assets/textile-editor/icon_sad.gif

As per P Chidambarm estimate this process of changing notes of 500/1000 will take 7 months as there are 2100 crore notes & RBI can print 300 crores notes per month
Also this is very reason Rs 2000 note is brought so as to faster fill the gap.

India
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DealSeeker wrote:

Bro, I didn’t put the sad emoticon after the statement about riots.

I am sad that people are so patient about this drama from the government despite the huge losses to the businesses/economy and inconvience to the common people.

As per my understandings:

Common man is hopeful that it will reduce the black money and they are supporting it in spite of facing little to heavy inconvenience.This is the main and big reason that opposition parties are not getting public support even after their enormous efforts.

Some people(like poor, daily-wage workers and farmers) are suffering badly because of poor preparations of government, some of them still supporting this decision and others left with no choice.

Middle and upper middle class have little impact as some are already using digital modes of payment and others are adopting it very fast.

Number of peoples who actually want to do riots or any similar activity are so less that they only can give ‘Gali’ (speak bad words) to Modi as of now. https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif

Government needs to do lots more now, In both ways

1) Take more and effective steps to ensure smoother implementation of this decision

2) Taking strict action against benami property holders, give more benefits to common people like tax reliefs etc. and ensure proper use of money that gov. will get.

Only this decision of demonetisation will actually hit them badly if they won’t do much. I think they will do something, Modi will not let go this PM chair so easily.

Let’s wait and watch. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

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Deal Lieutenant
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I support the present government for its good initiatives. But, for me, nation comes before any party. And the nation is struggling due to this avoidable yet manipulative move! And the sad part is that the deviant AAP has also not been able to give a simple and solid reasoned opposition to this step. Everyone is just fueling confusion and claiming what they could have done! Not what SHOULD BE DONE NOW. It would be amazing if some dimer can enlist more effective but less intrustive ways of weeding black money out of our economy!!

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Plus I feel all those ‘Open Letters’ circulating on social media are fabricated. Afterall, I have an open letter to write to the President of India but no one would pay heed to it. @DealSeeker I envy you for this. You were quick to apprehend what is coming forward to us. I was shortsighted and blinded by illusion!

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Ezio Auditore wrote:

Whatever but see they are changing rules everyday, I mean what is this?? One day 4000, then 4500, then 2000 and now complete stop. Seems they have completely missed how this decision will phase out and hence we can see shortage of notes now in banks, markets etc. No idea at all how will be the public reaction of demonetisation despite having the best economists, Ias officers etc.

Yes bro i do agree lack of prepration and they are monitoring situation day by day and taking decisions.
good decision executed badly.

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19 Female Gurgaon wrote:

Plus I feel all those ‘Open Letters’ circulating on social media are fabricated. Afterall, I have an open letter to write to the President of India but no one would pay heed to it. @DealSeeker I envy you for this. You were quick to apprehend what is coming forward to us. I was shortsighted and blinded by illusion!

Tumne kya koi Bakra halaal kiya tha jo President Pardon letter post kiya https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

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they should have printed more 100 rupees notes before this huge step…

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A2Zdeals wrote:

As per P Chidambarm estimate this process of changing notes of 500/1000 will take 7 months as there are 2100 crore notes & RBI can print 300 crores notes per month
Also this is very reason Rs 2000 note is brought so as to faster fill the gap.

Ask P Chidambarm to exclude money black notes. RBI is not going to print High number of notes again. Also Small Business are accepting Payment from Paytm & Swipe machine. So it will decrease Number of Notes.

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https://i.imgur.com/M0pEzES.jpg

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