India politics thread

A friend of mine just went to India without knowing about the demonetisation.

He was staying in the outskirts, not city area essentially, and had to go to the nearby bank to exchange for new notes.

The administration, corruption from bank officers (Apparently about 80-90% of the new money doesn't actually get exchanged on venue, the banks have a deal with certain individuals to exchange the new notes for them)

What eventually occured was a bunch of people not being able to exchange the new notes due to the notes becoming "out of stock", and people had to about an entire day for a chance to even change the new notes.
 
The Man Himself said:
...
Click to expand...

Arun Jaitley, Nov 10:

So, how much of this Rs 14 lakh crore comes back, how much of it gets extinguished, some would certainly get extinguished.

In 1978, I have looked at the statistics, out of Rs 80 crore, 25 percent got extinguished and therefore that percentage was reasonably high. Therefore we will have to keep our fingers crossed and see how much gets extinguished this time.
Click to expand...
 
berbatrick said:
Arun Jaitley, Nov 10:
Click to expand...
Yeah and he hasn't given a figure how much will get 'extinguished.' If the sources of deposits of big sum are not proven by depositors and that window of disclosing such passed before demonetization, they can charge very high penalty meaning depositor gets almost nothing back. I don't think government will complain if say out of 4 lakh crore, instead of whole getting extinguished, they get almost all as revenue and money is not going back into system as white.
 
Last edited:
New Delhi: Were the views of the chief economic advisor and the finance minister taken before the sudden announcement of demonetisation of high-value currency notes by Prime Minister Narendra Modi on November 8? The Reserve Bank of India feels this query cannot be answered under the Right to Information Act as it does not come under the definition of information under the transparency law.

The applicant wanted to know whether the “views of Chief Economic Advisor Arvind Subramaniam and Finance Minister Arun Jaitley were taken before announcement was made”.

“Query is in the nature of seeking opinion from CPIO which is not defined as information as per Section 2(f) of the RTI Act,” the RBI said in response to an RTI query.

Asked whether the information sought will fall under “seeking opinion” from the CPIO, former chief information commissioner A.N. Tiwari said, “No. It does not. It is a fact sought by an RTI applicant. The CPIO cannot say an opinion has been sought from him.”

“How it can be called seeking opinion? Whether someone was consulted or not is a matter of record. Had the question been ‘Should [their] views be taken?’, then it would mean [seeking an] opinion [from the CPIO],” former information commissioner Shailesh Gandhi said, expressing surprise at the response of theRBI central public information officer.

The definition of information covers “any material in any form, including records, documents, memos, e-mails, opinions, advices, press releases, circulars, orders, logbooks, contracts, reports, papers, samples, models, data material held in any electronic form and information relating to any private body which can be accessed by a public authority under any other law for the time being in force”.

The query was also sent to the Prime Minister’s office and the finance ministry but it remained unanswered even after 30 days of filing of the RTI application.

The applicant had also sought to know the designation and the names of officials who were consulted before the scrapping of old Rs. 500 and Rs. 1000 currency notes.

“The information sought relates to sensitive matters pertaining to discontinuation/withdrawal of bank notes. The information is exempt from disclosure under Section 8(1)(a) and (g) of RTI Act,” the RBI said.

The monetary policy regulator also did not disclose if the decision to demonetise currency notes was opposed by any official or minister, saying the information sought is “hypothetical” in nature.

It also cited Section 8(1)(a) of the RTI Act to deny minutes of deliberations related to demonetisation.

Section 8(1)(a) of the RTI Act exempts from disclosure information which would prejudicially affect the sovereignty and integrity of India, the security, strategic, scientific or economic interests of the State, relation with foreign State or lead to incitement of an offence.

Information sought under Section 8(1)(g) would endanger the life or physical safety of any person or identify the source of information or assistance given in confidence for law enforcement or security purposes.

The RBI has been denying information related to crucial aspects related to demonetisation citing exemption clauses.

It recently refused to give reasons behind the demonetisation move.

Earlier, it had denied to Mumbai-based RTI Activist Anil Galgali information about the distribution of currency to banks between November 9 and November 19 citing Section 8(1)(g) of the RTI Act.

The central bank did not give any reason as to how this section would apply in the case of information sought by Galgali.

RTI Activist Venkatesh Nayak, who was also denied deliberations on demonetisation by the RBI, said: “While confidentiality prior to announcing the demonetisation decision is understandable, continued secrecy after its implementation is difficult to understand when people are facing problems due to shortage of cash.”

He said the refusal to disclose the minutes of the board meeting where the decision was taken is “perplexing”.
Click to expand...
 
I was planning on travelling India, from the end of January to about March. Just how hard would demonetisation make it for me?
 
bleezy said:
I was planning on travelling India, from the end of January to about March. Just how hard would demonetisation make it for me?
Click to expand...
Things seem to have started settling down now. Depending on which cities you plan to travel, you might not have to use a lot of cash. However, you might need to buy an Indian sim card to use the Indian apps, and make sure your debit/credit card works in India. And then, stack up cash from atm for emergency use.
 
coolredwine said:
Things seem to have started settling down now. Depending on which cities you plan to travel, you might not have to use a lot of cash. However, you might need to buy an Indian sim card to use the Indian apps, and make sure your debit/credit card works in India. And then, stack up cash from atm for emergency use.
Click to expand...

I was originally planning on going a few months ago, then I saw this happen and the massive queues and delayed it.

I'd be starting from Delhi to Jaipur and then down to around Goa/Kerala/Bangalore. I already have an Indian sim which is a bonus. By apps do you mean things like Uber? And my debit card works in India, would charge £1.50 per transaction which I could live with. I was more worried about if I'd still have to queue up for hours to take money out, or get messed about with being told there's no money etc?
 
bleezy said:
I was originally planning on going a few months ago, then I saw this happen and the massive queues and delayed it.

I'd be starting from Delhi to Jaipur and then down to around Goa/Kerala/Bangalore. I already have an Indian sim which is a bonus. By apps do you mean things like Uber? And my debit card works in India, would charge £1.50 per transaction which I could live with. I was more worried about if I'd still have to queue up for hours to take money out, or get messed about with being told there's no money etc?
Click to expand...
Delhi, Goa, Bangalore should be fine. They are bigger cities/regions and do have ample places which rely on card based transactions. Jaipur should be okayish, since it's a small city, but still caters to a lot of tourists, so there should be a mix of cash/card transactions. Unsure about Kerala, since I haven't been there, so no idea how things are distributed.

I believe Uber from your home country should work in India. shouldn't be a problem. what i was referring to are the payment/wallet related apps which require an Indian phone number as far as I know. Still not sure if they accept a foreign funding instrument to fill the wallet. apparently, they are the winners of this whole exercise and a lot of small size places have started adopting them.
 
bleezy said:
I was originally planning on going a few months ago, then I saw this happen and the massive queues and delayed it.

I'd be starting from Delhi to Jaipur and then down to around Goa/Kerala/Bangalore. I already have an Indian sim which is a bonus. By apps do you mean things like Uber? And my debit card works in India, would charge £1.50 per transaction which I could live with. I was more worried about if I'd still have to queue up for hours to take money out, or get messed about with being told there's no money etc?
Click to expand...

Situation is pretty ok now in big cities, also you will be able to use your card in a lot of places in these cities. Just get a mobile wallet like Paytm and you should be fine
 
Hisha said:
http://www.ndtv.com/india-news/indi...o-curb-graft-1645071?pfrom=home-lateststories

http://www.livemint.com/Industry/Rl...97-of-banned-notes-in-setback-to-Modis-b.html

97% banned notes said to be deposited in banks in blow to Modi’s the so called black money fight.

Banks have received Rs: 14.97 trillion ($220 billion) as of 30 December, the deadline for handing in the banned notes. And there is still time till March 31st to deposit old notes with RBI :smirk:
Click to expand...

Just cos money is deposited in a bank account doesn't make it white money. The source will have to be explained during Income Tax assessments in the coming year.
 
hardikrajgor123 said:
Just cos money is deposited in a bank account doesn't make it white money. The source will have to be explained during Income Tax assessments in the coming year.
Click to expand...

Good luck with that mate. The IT can raise a doubt only if the amounts deposited are more than 2.5 Lakh per account. And im sure that a 40+ aged farmer, a shop owner, etc can make valid arguments and easily escape from taxing for amounts up to 10 lakhs. And you do know that there are millions of farmers and shop owners in India around or above that age, don't you?

The funniest thing is that, till the Nov 27th report from RBI saying that 11 Lakh Crore out of the total 15.44 lakh crore of the banned notes are already entered the banking systems, nobody was talking about income tax and their assessments. Till then all the supporters of demonetisation, including the government itself, was claiming that banned notes worth 4-5 lakh crore won't be coming back to the system, and these claims were on record. But after the above mentioned report from RBI, the government sensed the danger and took a u-turn saying that the aim of demonetisation was cashless economy. And the supporters also had to adjust as per that ;)
 
Last edited:
Bank Dispenses Rs 2000 Notes Sans Gandhi Pic, Says They Aren't Fake.

http://www.news18.com/news/india/sb...s-2000-notes-sans-mahatma-gandhi-1331291.html

Two elderly farmers in Madhya Pradesh’s Sheopur district got a shock after being handed Rs 2000 notes without the customary picture of Mahatma Gandhi on Wednesday at State Bank of India (SBI).The farmers, who thought the currency was fake, heaved a sigh of relief when the bank officials told them that the notes were genuine but were not printed properly. :lol::lol:

Just a printing mistake? Really? Or a deliberate one? Is there no quality checking or things like that? As per my understanding, the notes printed even with the minute mistakes are supposed to be destroyed. And then banks dispensed at least 3 notes without the Gandhi picture on it??? Yea... May be Gandhiji got fed up of all the chaos and walked off the note:lol::lol:

What's next? Notes with Modi picture instead of Gandhi? How about Godse? Yea.. why not? They sure deserves it more than Gandhi.. :wenger:

 
Last edited:
97% Of Banned Notes Back In Banks? 'I Don't Know' Says Finance Minister Arun Jaitley

http://www.ndtv.com/india-news/97-o...arun-jaitley-1645298?pfrom=home-lateststories

Are we supposed to believe that the FM of the country doesn't know about this? Even if the report is right or wrong, he should know about it.

The question is : What does he know? As FM he is a phenomenal flop, who knows practically nothing and is forced to admit it time and again. And he could never win an election even.
 
Last edited:
Hisha said:
97% Of Banned Notes Back In Banks? 'I Don't Know' Says Finance Minister Arun Jaitley

http://www.ndtv.com/india-news/97-o...arun-jaitley-1645298?pfrom=home-lateststories

Are we supposed to believe that the FM of the country doesn't know about this? Even if the report is right or wrong, he should know about it.

The question is : What does he know? As FM he is a phenomenal flop, who knows practically nothing and is forced to admit it time and again. And he could never win an election even.
Click to expand...

AFAIK it may be because assessments are made by RBI weekly, perhaps this week's official assessment hasn't been made (and we can maybe assume whatever unofficial data he has isn't good, hence this response).
 
berbatrick said:
AFAIK it may be because assessments are made by RBI weekly, perhaps this week's official assessment hasn't been made (and we can maybe assume whatever unofficial data he has isn't good, hence this response).
Click to expand...
Unofficial? He will atleast have data reflecting numbers from the week ending Dec 30. He is the Finance Minister, ffs!
 
berbatrick said:
AFAIK it may be because assessments are made by RBI weekly, perhaps this week's official assessment hasn't been made (and we can maybe assume whatever unofficial data he has isn't good, hence this response).
Click to expand...

If the data was wrong, don't you think that he will reject the claims at the very first available opportunity? Do you honestly believe that he, the FM of India, is waiting for the RBI's weekly press release to get the actual figures??

And to my understanding, RBI stopped releasing their weakly assessment data from Dec 10 onwards. And you can guess why the sudden change in their normal routine ;)
 
When asked about the Prime Minister's promise to the nation in his 8 November address that people will have opportunity till 31 March to deposit old notes in select RBI branches, Jaitley said the prime minister had specifically said that RBI will fix terms and conditions. “The word terms and conditions was part of prime minister’s address,”

I:lol::lol::wenger::wenger: i see...I didn't know that PM had put a small star mark just above the points of his Nov 8th speech (as seen in paper advertisements to mention the terms & conditions). So from now oneards, I must read his bhashans more closely and carefully, may be with the help of a magnifying lens, to notice the small star marks if any.

Seriously guys, what a joke of a Government!!! I don't know how in the hell they can talk all this stupidity and lie to the nation and still get away with it.
 
Last edited:
Woman takes off clothes at RBI gate in protest after being unable to exchange old notes at RBI.

http://www.business-standard.com/ar...exchange-old-notes-at-rbi-117010500028_1.html

The woman, who was with her infant child, was in tears when turned away by guards after repeated request to exchange her junked notes. In protest she sat in front of the RBI entrance gate. And when the guards tried to forcefully move her away from the entrance, the woman in disgust took off her clothes and sat topless in front of the gate.

She has been visiting the RBI from last three days to exchange Rs 5,000 in old notes.

Many others including retired and aged persons who have come to exchange their old notes said the government should not go back on the promise made by Prime Minister Narendra Modi in his November 8 address to the nation that old notes could be exchanged at the select RBI offices till March 31.

--------------------------------------

She must be one of the black money holders, if her income was genuine, she should have deposited her money earlier, now live with it, right guys?? :wenger::wenger::wenger:
 
Hisha said:
Bank Dispenses Rs 2000 Notes Sans Gandhi Pic, Says They Aren't Fake.

http://www.news18.com/news/india/sb...s-2000-notes-sans-mahatma-gandhi-1331291.html

Two elderly farmers in Madhya Pradesh’s Sheopur district got a shock after being handed Rs 2000 notes without the customary picture of Mahatma Gandhi on Wednesday at State Bank of India (SBI).The farmers, who thought the currency was fake, heaved a sigh of relief when the bank officials told them that the notes were genuine but were not printed properly. :lol::lol:

Just a printing mistake? Really? Or a deliberate one? Is there no quality checking or things like that? As per my understanding, the notes printed even with the minute mistakes are supposed to be destroyed. And then banks dispensed at least 3 notes without the Gandhi picture on it??? Yea... May be Gandhiji got fed up of all the chaos and walked off the note:lol::lol:

What's next? Notes with Modi picture instead of Gandhi? How about Godse? Yea.. why not? They sure deserves it more than Gandhi.. :wenger:

Click to expand...


this is beyond idiocy :wenger:
 
Now, Rs 2000 Notes without Gandhi Pic from State Bank of India Anekal branch, Bangalore.

After Rs 2000 notes without Mahatma Gandhi's image were found in Madhya Pradesh, similar notes surfaced in Anekal town at the outskirts of Bengaluru city on Wednesday. As per reports, as much as 10 notes were found without Gandhi picture.

http://timesofindia.indiatimes.com/...mage-found-in-anekal/articleshow/56361686.cms
HTML]


2-farmers-receive-genuine-rs-2000-notes-without-gandhi-image-from-sbi.jpg
 
Not that simple.

Banks are shitting it due to the increase in interest they will have pay out for the increase in bank balances. It will take some time for them to put that money to use, assuming it is not taken out again ofcourse, but short term they will take a bit of a hit. They are also within their rights to apply a MDR fee on credit card transactions. It is for the Govt to figure out, how that would work in their system of fixed petrol/diesel prices.
 
So the government and RBI is now playing ping-pong. The govt single-handedly led a big country as this to a self-inflicted disaster. Still any takers of demonetization left?
 
coolredwine said:
So the government and RBI is now playing ping-pong. The govt single-handedly led a big country as this to a self-inflicted disaster. Still any takers of demonetization left?
Click to expand...

DeMon supporters will keep on hiding untill they have some favourable news. Social media is such a breath of fresh air these days. No threats, no abusive languages, and seems the tickets to Pakistan is all sold out as well. Nobody is 'kindly' offering that either :lol:
 
Last edited:
http://www.hindustantimes.com/india...isation-pmo/story-TSvPFx8V9PyhRDwuwrUcUM.html

https://thewire.in/98372/pmo-no-information-officials-consulted-demonetisation/

Prime Minister's Office has no information on officials consulted before demonetisation. :wenger:

Responding to an RTI query seeking to know the names of officials who were consulted before the decision, it said, “Information sought is not available in the record of this office.”

Former information commissioner Shailesh Gandhi said, “Whether someone was consulted or not is a matter of record and comes under the ambit of RTI Act.”

So, why does this govt wants transparency for everyone except for itself?
 
RBI admits that it only followed Government's lead on Demonetisation.

RBI made these disclosures on paper to a parliamentary panel - the Standing Committee on Finance - which is reviewing the notes ban. RBI says that the government "advised" the RBI to scrap 500 and 1,000-rupee notes on the November 7, just a day later, the RBI board reviewed the proposal, and on November 8, Prime Minister made the announcement of a demonetisation drive.

But the government said in the parliament that the demonetisation decision was taken by RBI. RBI itself while replying to a RTI plea on December 24, said that it advised demonetisation. (RBI also said that only eight of the 10 board members attended the crucial meet. As per the law, the RBI should have 21 members on its central board including 14 independent members. But, the RBI has been operating with less than half its sanctioned strength. That itself is against the rules).

http://www.ndtv.com/india-news/gove...ovember-7-rbi-says-it-agreed-next-day-1647203

Shame on the Governor Dr. Urjit Patel for surrendering RBI autonomy to Government. Everyone knows Urjit Patel has been installed in that position so that he does not oppose any of the government moves. Raghuram Rajan would never have stood for this move and that's why he had to go. Now all important posts in places like RBI have been taken over by government stooges.
 
http://timesofindia.indiatimes.com/...after-demonetisation/articleshow/56432779.cms

RBI: 'No count of cash printed after demonetisation'

How is i even possible??? RBI does't have the count of cash printed?? And why are they rejecting all the RTI pleas? What are they hiding? Who are they trying to protect?

The RBI refused to provide information regarding distribution of notes by banks from November 9 to 19, 2016. It refused to give the information citing Section 8 (1) (g) of RTI Act, 2005. This section says information can be denied if the disclosure would endanger the life or safety of any person.

I would like to know, who's life will be in danger if the details of the amount of cash printed and distributed made public?

The thing is that, getting the state wise currency distribution details is very important to unleash the real reasons behind this Demon drama. And this government will fight tooth and nail to protect those data's from reaching public domain.
 
Last edited:
Now, Rs 500 note with one printed side found in Madhya Pradesh.

So, we have had 2000 notes without Ghandi picture, 2000 notes without security thread, 2000 notes with other printing mistakes, 500 notes with huge alignment mistakes, 500 notes with only one printed side... :wenger:. What's next?

And when you consider the fact that these currencies are printed in batches, the possibility to find these kinds of defective currencies again are huge.


56487396.jpg



http://timesofindia.indiatimes.com/...nd-in-madhya-pradesh/articleshow/56487221.cms
 
Replacing Raghuram Rajan as Governor of the RBI was a terrible move. But the government was always going to do it because Rajan would never have approved of demonetization. It remind me of a company that makes say, smartphones. The finance department would want the smartphone to be priced higher because they are worried primarily about meeting revenue figures. The marketing team would want the phone to be priced lower as it makes their job easier.

But Rajan is an exceptional economist and finance expert. He should never have been removed as RBI Governor. This Urjit Patel seems like a complete 'yes man'.
 
You must log in or register to reply here.