500 and 1000 Rupee Note Banned || Reason || Benefits || Way Forward
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Why GOI Banned 500 and 1000 Rupee Notes and Introduced 2000 Note , Explained all about Reasons , Benefits , Criticism Everything about 500 and 1000 rupee note banned in india and introduction of 2000 rupee note in india In what can be seen as an unprecedented move by Prime Minister Narendra Modi, during a special address to the nation, he anonounced that currency notes of Rs 500 and Rs 1,000 denominations will be illegal starting 12 midnight on November 8. Watch PM Modi's Entire Speech On Discontinuing Rs. 500, 1000 Notes Rs 500 and 1000 currency notes stand abolished from midnight: PM Modi Rs 500, Rs 1000 notes scrapped: All you need to know and do in next few days India Banned Rs500, 1000Rs Notes From Today : Reason & What To Do Now New 500 And 2,000 Rupee Notes That Will Be Issued Live: 500, 1000 rupee notes cease to be legal tender from midnight tonight: PM From midnight of November 8, 2016, Rs. 500 and Rs.1000 will cease to be legal tender. "These notes are just papers from tomorrow," says the prime minister. Taking the nation by surprise, Prime Minister Narendra Modi on Tuesday night announced demonetisation of Rs. 1000 and Rs. 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption. In his first televised address to the nation, Mr. Modi said people holding notes of Rs. 500 and Rs. 1000 can deposit the same in their bank and post office accounts from November 10 till December 30. Live updates: 8.53 pm: Government hospitals, pharmacies at such hospitals will accept Rs. 500 and Rs. 1000 notes for 72 hours from November 8 midnight. 8:34 pm: This is a chance for every citizen to take part in the fight against black money and corruption, says the prime minister. 8:32 pm: A new series of Rs. 500 currency notes and Rs. 2000 currency notes will be brought into circulation. 8:31 pm: Banks will be closed on November 9. 8:30 pm: There is no restrictions on internet banking, cash, demand draft transactions. 8:27 pm: Rs 10,000 daily cash withdrawal and Rs 20,000 weekly cash withdrawal limit 8:25 pm: There are, however, some exemptions. Government hospitals and international airports. 8:22 pm: The ATMs will not function till November 9, and in some places till November 10. 8:21 pm: People who possess Rs.500 or Rs. 1000 currency notes after December 30 can exchange it at Reserve Bank of India by providing a declaration. This is till March 31, 2017. 8:20 pm: These notes should be exchanged in banks and head post offices and sub post office within December 30, 2016, by providing a valid identity proof such as Aadhaar, PAN card or voter ID card. 8:15 pm: From midnight of November 8, 2016, Rs. 500 and Rs.1000 will cease to be legal tender. "These notes are just papers from tomorrow," says the prime minister. 8:11 pm: Prime Minister says Rs. 500 and Rs.1000 are notes are mostly used in black money. 8:10 pm: Corruption, black money and terrorism can come in the way of a country's robust economic growth, says the Prime Minister. 8:07 pm: He moves on from corruption to terrorism. He tells "terrorsists from across the border" are spreading counterfeit currency notes. 8:06 pm: We hear stories of how autorickshaw driver returns gold left by a passenger in his vehicle. These stories tell how common people are honest. It is only a few people engage in corruption for selfish reasons, he says. 8:05 pm: Corruption and black money are the biggest hindrances in the fight against poverty, he says adding that it is everyone's responsibility to eradicate poverty. 8:04 pm: Mr. Modi lists out the various schemes launched by NDA government in his address to the nation. He mentions the Jan Dhan Yojana. 8:03 pm: This govt is dedicated to the poor, and will continue to do so, says the Prime Minister who completes two-and-a-half years of rule today. 8:02 pm: India has registered itself as a bright spot, and its not that this is a claim made by us, but by IMF and World Bank 8:01 pm: When we were elected in 2014, there was a discussion that among BRICS nations, the 'I' was wobbling, says the PM. 8:00 pm: The Prime Minister's address to the nation has begun.
Comments
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my own experience of my twenties.....
@.govt officer had issued a notice to me & cause of notice was not applicable to me..... show cause notice was issued only for @ { u r genius to understand it }
I was about 21 years old...." " not used to work under the table practice " "and more over ideologist fresh young blood......
I represented my case & shown him ALL legal points which ALL are favouring me.... govt ofcr argued with me & he wanted to pass order unlawfully.. I told him that it will be an illegal order...
with cruel and crooked smile ,
he said-" " never mind Mr…. ,. ,. , if u r not satisfied with my order , u r at your liberty to spend money to hire advocate & wait for 15-20 years for justice......one court to another court……
I REALISED AND I HAD TO SURRENDER TO HIM AND HAD TO FULFILL HIS DEMANDS AT THAT TIME…
I have nothing more to say for that past….
but wait
I have to say for future………
Mr. Prime Minister Sir , Shree Narendra Modiji….. u r just alone against black money and all kind of mal practitioners …… who wants BRIBE , they are in millions ……
THEY WILL NOT LET U TEST FRUITS OF YOUR PIOUS { pavitra } EFFORTS….. -
Please read this blog for demonetization effects
https://demonetizeormonetize.blogspot.in/2016/11/demonetization-effects.html
https://demonetizeormonetize.blogspot.in/2016/12/5-tips-to-get-change-for-new-2000-rs.html
https://demonetizeormonetize.blogspot.in/2016/12/cashless-india-and-cashless-indians.html
https://demonetizeormonetize.blogspot.in/2016/12/arthakranti.html -
hi i need a help can you send me this microsoft written file for my school project plz help i need it for my project
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abe yaar ye kisne banaya hai,,,,
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i think you mean to say bjp balck money spend nhi karti.... its a supid move.. there were institutional mechnisms.. but bjp wanted to safeguard its people.,, so they took time..,and who know adjusted its black money... but nw why they are opposing JPC.... nonsense... economic advisor was not consulted.. what the hell... there is no economist in this gov.... jan dhan mein to black money pada hai.... take this video off,,,, u have not done any research,,, biased view.... this video is a complete waste of time... either update ur content or delete this.
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Impact of 500 And 1000 Rupee Notes ban in India
https://www.youtube.com/watch?v=7-JtOiUh9as -
1.जब हिंदुस्तान में जियो का सिम कार्ड e-kyc से दिया जा सकता है तो रुपया क्यों नहीं।
डिजिटल इंडिया।
paper less system for aadhar card holder.
easy data entry. & many more benifit.
2.If modi govt. add. one more thing that after Nov 8, who want to use ₹ 500 OR 1000, than take one confirmation letter + approved id. with signature confirmation.(जैसे आज बैंक मांग रही है जब हम दूसरों के खाते में रुपया भरने जाते है)
कुछ निश्चित सिमा तक यह रखना चाहिए था। -
you dont have rites to particularly mention about Pakistan all..
because of these only..
now a days partiality all arising -
Currency press capacity: Around 6 months needed to replenish Rs 500 notes ► https://goo.gl/Lnx7Nz
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log jugaad nikaal lenge
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Limit is not 10k and 20k, but its 2k and 4k per day. anyway, you missed some important points as well.
What if I tell you that this demonetization is nothing but a measure to infuse money in PSU banks so as to shore up their lending capacities? total Bad Loans of Indian Banks right now is close to Rs. 6,00,000 crore. PSU Banks are in a miserable condition right now, and need immediate infusion of money to shore up their lending capacities. one credit rating agency had stated that Indian banks required Rs. 1.25 lakh crore capital infusion. In July 2016 the Center injected 23,000 crore into 13 public sector banks. Finance Minister Arun Jaitley said it in 2015 that the Center would pump in more than 70,000 crore in PSU banks in coming four years What other masterstroke would have made people queuing up in banks to deposit their hard earned money, waiting hours for their turn?
moreover You don’t curb black money by bringing in notes of higher denomination. In fact, govt is now simplifying hoarding of black money by bringing in new notes of higher denomination with no extra security measures. -
Very Well Explained
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nahi aapse puch k aur aapko bata k karna chahiye tha ki apna paisa daba lo
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This is not demonetisation (simply replacing 500 and 1000rs note and adding 2000 rs note).
It will destroy economic activity for a month as public wont be haivng money (purcahsing power 1/10 since expected 500-1000rs are 87%) only 13 percent remains. and this vaccum will be filled in 50 days.
Operational cost: 20k crore in generating new notes (as these 500 and 1000rs notes are also new). + additional bank hours for 50 days (SBi has 16000 branchs, 70000 clerk- sbi share is 20% of all banks) means 70000*5*6000* 28 Rs (6000rs for each extra day + 2000 rs for extra 4 hours, total 14 sat, sun + 36 weedays, equivalent days 28) = 6k crore: plus additional cost of atm services (don't know how much) means 25 to 30 k crore is minimum input cost, Black money targeted should be more than this otherwise blunder.
Why this is a blunder?
Government has discriminated black and white only on 1 major criteria, if people are able to bring it to the banks, if not it is black money. lots of people dont have bank accounts , if they have under jandhan, they dont use it. (person getting 200 - 400 per day will not waste time to go to bank, simply keep it with himself). we are a country where 70% people use 40- 50 rs daily. they will panic.
No stop on black money generation methods: new notes will be converted to black money with same pace, when all this is finished. It (2000rs) actually facilitate black money hoarding.
Many methods of converting black to white are still open: temple money will not come under TAX scanner. donate it to a temple and later take it back (both are happy). Find people with jandhan and use them (give them commission).
Chaos will lead to black marketting and nothing else. Imagine a poor earning 3000rs monthly, (not having or using banks) will have to sell it @ cheaper rates.
Positive:
1) It will be able to remove counterfiet notes completely. (but there are many methods of replacing money this is so stupid)
2) Clean economy for a short period (but without checking methods of creating black money it is all waste)
Thanks -
If you want to put a Hindi video, put the title also in Hindi. Why English title and then Hindi content? You expect youtube viewers must be bilingual?
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Rahul Gandhi ..aj tak ap apne ghar se nikle tak nai ho...kuch kiya hai mantri ban ke..?
Aj kaise ATM PAHUNCH GAE?....wo v 10 BODYGUARDS ke sath..? aur to media ko v pata lag gaya 1 min me...
hamare area ke atm me kahin media to nahin dikhti!!
apko kaise paise ki kami ho gai...lagta hai apka v koi ghotala hai....
koi nai mauke ka phaida uthaiye and logon ko bhadkaiye....
koi aur krta to kuch samajh aata..apke wichar kaun nai janta...
mushkilen kaam karne hath aage kijiye...logon ko bhadkane me nai...camera attention kyun!
agar ap sahi me desh ka acha soch rhe...ab jag jaiye..kuch sikhke...aur INDIA ko black money se justice dijiye...
INDIA Z WAITING FOR UR ANS SIR!!!! -
same thing happed in us when us was having bad face with corruption and mafia..then president Nixon came and baned notes bigger than 100...so modi is bigger lier..2000 note will bring more corruption and will week our economy...those who dont agree with me...plz go and read books get urself educated...thank you
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u lack the basic understanding as to why certain things or conditions are done by the government,,,, like you said govt should have informed in advance of banning 500 & 1000 rs notes,,, then how can you catch the rich n powerful corrupt people, even one day can make a difference to them... so u lack the basic understanding.. u basically mean to say that the govt should declare that they are conducting a surgical strike .... its heights of stupidity...
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