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  • Category: Central Government

    Demonetisation and its effect

    When PM Modi announced that Rs with the denomination of 500/- and 1000/- would cease to be the legal tender from 9th of Nov, the whole country was stunned.

    This decision caused sensation in the whole country.

    Social Media was flooded with messages and information. People started counting the trash they had accumulated for years legally or illegally

    The most interesting thing regarding the demonetisation was that people had devised various unique methods for transforming their black money in to white one. Some of these methods were as follows –

    Depositing money in the accounts of their poor relatives and friends.

    Enticing the people with some percentage of money for exchange.

    Asking their employees to stand in the long queues in front of Banks and ATMs for getting money exchanged.

    Hiring labors for some Rupees ranging from Rs 500/- to 700/- for becoming the part of long queues in front of banks/ ATMs.

    Converting black money in to gold.

    Paying a few months salaries in advance.

    Paying back loans forcibly.

    Using their influence / links with bank employees and so on.
  • #601222
    India is a country where one can find highly talented, professionals, creators etc. If they can outsmart us, we can also outsmart them using good techniques or Black Hat techniques.

    In an advanced country like India, no one is trifle in any way. If you come up to attack me then I will find a way to defend in any way and any manner. I don't think anyone has lost his or her monies if it was demonitized.

    It is fun to learn those ideas but they are going to be soon a thing of past if our leaders introduced some good ideas to get rid of.

    Hackers never learns but always wins!

  • #601224
    India is the poor country for that matter when it comes to taking work from the labor class. In this case also during demonetization period, many well to do persons who cannot get the cash at ATM 's and has to stand for many hours has taken the help of certain people who worked on paying some paltry money. Some who have the access to the cashier inside the bank has settled the amount 6 pm daily and he used to take the cut , which went to every one working at the bank. That is the reason being so for a sincere account holder the banks denied money and asked him to exchange old notes with depositing the same in account.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #601227
    Really it speaks about the heights of corruption in our system. How they exchanged their black money is terrible. I know a very famous public figure daily employed more than 100 persons to get Rss.500/- and Rs.1000/- notes by paying them 25% of exchanged Cash. Many of the bank officers were involved in the exchange of old notes to new notes. We will have fencing to take care of the crop and protect the crop from animals. But the fencing itself eats away the crop what can we do. Bank people are supposed to be unbiased. But for the sake of money they were indulged in many unfair activities. This I came to know through papers only. Indians are intelligent. They use their intelligence for unlawful activities. If they use intelligence in a proper way country will progres.. Some people made deposits into their relatives accounts. Now IT is questioning the relatives where from they got that money. No clue for them to answer.
    always confident

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