Why India Demonetized Most of Its Cash Overnight.

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1. According to this article, only 53% of the Indian population having the bank account, how do other 47% population save their money in the bank?
   
   http://www.thehindu.com/news/national/karnataka/%E2%80%98Bank-account-penetration-set-to-increase-in-country%E2%80%99/article14578561.ece
   
   Furthermore, according to this article, 43% of bank account in India are dormant, that means these bank account no activities for a period of time, so that only 26% of Indian population have active bank account, that means 74% of Indian population don't use bank and credit card for their money transaction,
   
   http://indianexpress.com/article/india/india-news-india/in-india-bank-account-penetration-surges-but-43-dormant/
   
   The result is 74% of Indian only using cash in their daily life. I don't know whether or not Indian people using gold and silver to buy food or commodities.
2. getting people into banks, and hurting corrupt politicians who use black money and oppose the pm.
3. Indian government also gets taxes in the form of indirect taxes. That is a regressive taxation. Buying a soap is more expensive for a poor person than a a person of middle class. The Indian banks are stressed with their NPAs (Non Performing Assets), the bailout will be done by the "profits" earned from this demonitisation. This is one source. The other is through government companies and taxpayers' money diverted to capitalise these banks. The demonitisation act was done with a show of "good intentions" but implementation is as expected, shoddy. The trick is fairly common, hide behind a wall of rhetoric while commiting a move with unexpected results. Deem anyone who has a view which counters this "good intentions" as unpatriotic.
4. Impeach him on the 50th day Indian Masses wake up he hid the Black Money showed some small crores caught here and there (Usiki Kharreeedi huwi Media ne yeh bataya aapne dekha mein ne dekha) the big big crores are reinvested by black Money partners of Muddy Ji under the name of Forien investments and Gold and Real Estate was already purchased by BJP Black Money hoarders even before the announcements of demonetization. Reddy wedding 500 Crore in South was all Illegal Mining money and Reddy partners are Sooshamma Suwaraj etc etc. Desh wasiyon ab waqt aagaya hai COngress aur BJP ko gali dekhane ka Uth Khade hojao aur is Aandhkar ke khilaf awaaz uthao. He is Corrupt to hide his corruption and those corrupt partners of his he created a fake scenario. 1% tax payment by Indians ? LOL your information is fetched from some BJP Archives which are doctored
5. corruption can not be stopped until it goes cashless.
6. Every paper currency is a paper just believe and faith give the value the promises of every central bank. Paper currency is no make it self black money or white money there are so many things make it like ( accounting , how you have earn , illegal business ............. etc. ) if just goverment get tax its become white money. it can't solve problem of India. until we dont awake the false promisesof our politicians
7. LOVE THE DOG! Also, when the government is so corrupt it does not serve the people, what do they EXPECT the people to do?
8. hello I am an Indian, my dear friend demonetization in India is a bravest move with huge population. initially even I thought this could end in disaster but the citizens united for this against corruption. the person's who have black money are completely scared right now. The real good thing formed in India is complete unity, I also hope the govt will not play with citizens cheaply. The opposition party is also tough. Jai Hind
9. They are doing away with cash all to gether mark my words. Then the govt can take it any time to bail them selves out. Cashless society
10. am from India, and I feel you are right as the current government has won the election on pro development basis and they need money for that, so they have declared war on cash horders and black money handlers
11. Mr. Maneco, you must start getting to know more about India. As India is going to reclaim its status as a superpower in the near future. Come to India, I bet it will change your life.
12. Its just for Tax collection properly. And people trust govt very much thats why its a success and 17%is not much then you also say india should build infrastructure. If govt don't have the money for that big infrastructure development plans then who would build it.and government not talking about increasing personal income tax its trying to lowering it
13. Don't give your opinion on Wikipedia page and bbc report .
14. According to Kejriwal, its a scam of atleast 8000 Crores, now without making any offensive comments and using sensible language can some one explain why this Government writing off Viyay malyas,s loans ? They have given all the money collected to forgive the big corporation,s loans already.any comments ?
15. India is a shithole, if you can say it is in politically incorrect way. I'm Indian and I hate this non-sense. There should be change in system rather than this demonetization non-sense.
16. oi they dont take away your money. They check that that the amount correlates to the income sources you declare to the government. They provide some brackets where you pay penalties and start with a clean slate. For that you have a reasonable timeframe. Even if after that you plan to hide and try money laundering through international bodies, they will rain on you and freeze all your account for upto 2 years , you cannot apply for loans and you also end up paying upto 200% in penalties.
    At the same time the banks are geared to roll out transaction platforms even down to dummy phones through double verification methods so places that have low network coverage and people who dont have smart phones can easily do online transaction.
17. well now govt also set the limit of gold holding per person in india
18. So some knowledge for you. 85% of all transactions are cash because traditionally it has been a cash oriented society. So say you are a lawyer or a private practicing doctor..you set your rates and year end its upto you to declare your income. Being cash there are no books to look at.(Very high level description but such transactions happen from top to bottom of the economy). When the govt came it made a mandate to have everyone come into banking system along with unique ids..similar to ssns. next they went after offshore money held in havens. Givt have had limited success on that. THe next was this move of demonetization along with tracking of gold sales as everything is being tied back to the unique number. Overall objective is to go into a cashless economy mode so that everything can be tracked which would lead to less corruption...utopian thought but yes they are trying their best to weed out this. BTW a fact there was a sudden drop in crime and organized protest in this period as there was no 'driver' or cash .
19. Anyway your imagery about india is correct, but those days are gone.
    Things has changed. It will be better if you change your thought too.
20. We support the move of demonetisation.
    Modi has done it beautifully.