Demonetization to curb counterfeit and black money was necessary....but, having said that, I agree with all the points brought out by Shri Gaur.
The poor, uneducated and insecure, who keep their savings at home, will be the ones most affected and will be victims of middlemen and dalals who will exploit them by exchanging the old currency at half the value. I sincerely hope they are taken care of.
Demonetization during election time is also a way to ensure that black money purchased votes decline. But again, Indians are famous for their jugaad! Our traditional faith in 'rokda' will go only if the people have faith in the banking organization and guarantee for the monies banked there. This will not happen as long as politicians are corrupt and control banks directly (private banks) or indirectly (nationalized banks).
MGR Rajan
Sent: Wednesday, November 9, 2016 2:02:55 PM
To: indiaresists@lists.riseup.net
Subject: Re: [IAC#RG] MODI finally accepts IAC demand to replace fake notes ... but ...
9/11/16
For a change let me say it though there is an element of surprise it should have been delayed for some time.
The P.M . keeps on announcing new schemes without adequate groundw0rk. So it falls into the same catagory and success is doubtful for the 3 reasons/justification given for it-
Corruption
Black money
counterfeit currency.
He himself said day before that the politicians are very creative when it comes to the political class. The other sources of corruption is Civil servants who are equally creative in continuing corruption and help the politicians and themselves.
The third party is big business houses from here funds are generated. Use of currency notes will not change.
Black money-earlier it was claimed by the P.M and people Baba Ramdev that huge blackmoney is stashed abroad. What the Govt. has achieved so far? Inspite of his best efforts and intervention of Supreme Court has the Govt. anything to show worthwhile?
Counterfeit currency- only shows confusion . Earlier when Dr. Rajan was the Governor the Public was asked to surrender all notes before 2005. People faced many problems but still complied. This will create more problem for the people specially middle class and lower middleclass and rural people. People have no faith that there money is safe with banks and the Govt. Besides thy know the main source for such notes is a
mainly one of the neighbouring country. So long as you depend on import of security paper, printing will continue and so will the routes through which these are brought into the country.
Now let us say USD is a currency universally accepted and they have a system to check.A currency note of say 20 years can be changed without any risk. I am not aware how many developed countries have declared their currency notes invalid overnight?
When the P>M speaks so much about honesty and transparency why they are reluctant to bring all political parties and their funing under RTI? Are they not one of the biggest source of black money? Regds
JKGaur
Sent: Wednesday, November 9, 2016 10:51 AM
To: indiaresists@lists.riseup.net
Subject: Re: [IAC#RG] MODI finally accepts IAC demand to replace fake notes ... but ...
But it is still unclear:
1. How terror funding will be checked through it.
2. People who had black money, were well informed about this and most of them have changed or invested.
3. It is also aired (rumour) that Rs. 2000/ note has GPS system.
4. How hawala karobar will be checked through it.
& many such questions/issues
On Tue, Nov 8, 2016 at 9:34 PM, Sarbajit Roy <sroy.mb@gmail.com> wrote:
Post: "indiaresists@lists.riseup.netWatch this spaceMODI finally accepts IAC demand to replace fake notes ... but ...They finally HAD to listen to us on rampant menace of COUNTERFEIT currency .. but ...
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