Originally Posted by
desi
If you have less than 25000 and end up not being able to exchange/convert, consider it donation to India (it is less than 400 USD).
i'm sorry but why should anyone donate any amount because of a stupid decision taken by one man which has inconvenienced the entire country & those who legally have less than inr 25k outside of india????
measures should have been put in place to take care of those who will not be returning to india before march 31st....if this whole exercise was planned better then perhaps this would have been thought of as well....
Originally Posted by
desi
Cancellation of 1000 RS note was standard roumour for last many years. So it should not come as surprise.
it comes as a big surprise....no matter how standard the rumour was....
Originally Posted by
desi
Even cancellation of 500 and 1000 would not have been a big issue if civil servants had handled it better. (such as 200 Rs notes would have been more useful than 2000 rs notes)
this has nothing to do with civil servants....this has everything to do with one man who took a decision without thinking of the consequences....the supreme court has observed that the government has handled this poorly....the banks have accepted that they were not prepared....if the new batch of inr 500 & inr 2k notes were introduced in the market for a period of 6-8 months & then this demonetization exercise would have been introduced then i would have supported it....but to do so without adequate currency being available in the market is just plain stupidity....
Originally Posted by
desi
SInce Arun Jaitley and key ministers were never suppose to sit on a counter at RBI to exchange money, them being tied down with budget planning should be a non-issue.
actually, it is going to be an issue....if a proper plan is not put into place to handle this post december 30th then we will be in the same position we are in currently....mass confusion because the government themselves don't know what to do....this is evident from them changing rules every other day....
Originally Posted by
desi
Going to RBI is going to be a pain (you are more likely to be bitten by a dengue carrying mosquitoe) but after a month, the current premium of 20-25 pct (get 3 new 2000 rs notes and 3 new 500 rs notes for 20 old 500 notes) is expected to come down to about 15 pct
there is no fear of dengue between january & march....
Originally Posted by
desi
hmmm. is it legal to put cash in lockers in india?
yes it is if it is declared or legally earned....
Originally Posted by
desi
One of the purpose of this whole painful exercise is to get rid of such money sitting outside banking system
its impossible to accomplish this exercise because you don't have a proper banking system that is available everywhere across the country....cash is used in the rural areas where there are no banks for many many miles....people prefer to hold onto cash because small shops & street vendors don't accept any other form of payment....you can't get rid of cash when a great percentage of this country doesn't have bank accounts....
Originally Posted by
desi
1 year CD pays 7 pct. Even ordinary savings account pays 4 something.(provided it is legal money and not black money)
that's completely up to the individual whether they want to keep their money in the bank or with themselves at home or in a locker....some people don't want to keep their money in the bank....