Arunima Singh wrote:

Kalyani Nandurkar wrote:

It is a welcome move and this decision is being applauded and welcomed by all the leading economists in the country going by the large-scale debates that we can see on various channels. Even the small time industrialists, traders and farmers whose daily business transactions are done in cash are seen welcoming the move. Of course, it will indeed create trouble for common people due to the shortage of small currencies but I expect it will only be a short term effect and by December or January, once the new currency notes are well in circulation, there won't be any problem. This is a welcome move and I wonder if the timing to do so now has been influenced by UP elections in 2017 and to bring down certain political strongmen who cannot be touched otherwise? Just a thought.....

Definitely a smart move and also correct political timing..UP and Punjab election. Definitely he could sense the misuse of black money. Big impact on those strong men for sure

I don't think the Ban is implemented keeping an eye on the upcoming elections in UP and Punjab. In totality, the ban applies to all those Black money holders in the entire Country.

Every political action is with an eye on the votes. Nothing wrong in it. That is the way politics moves.

This is the best plan for national security. Not to forget this black money is a big aid to terrorism across the border.

Absolutely, lthe hawala money trail used by the terrorists will now be stopped until they think of some new way of doing it..

I do have my concerns over this move. I would be glad if someone throws light 

1. What about people who donot have bank account and heavily depend upon the stash of 500 or 1000 notes like say, maids,gardeners,farmers , elderly people etc

2.People fell deaf ears when there was a chance to adapt to credit/debit card transactions, Many petrol bunks and other restaurants always say excuses such as " the swipe system is not working"

3. the transport people such as autowalas will be rebelling this move?

4. If in course of time, will the prices of commodities come down? will taxes like swach bharat tax and krishi kalyan cess be eliminated? What would Government do with the undisclosed income (if they happen to claim all the black money with this move?)

I see that these sudden measures bring much panic to the common man!

Babu saroj wrote:

I felt the decision is made in a very short time without any proper plan yeah the plan is very effective in knowing the black money but this should be done with proper planning.

This decision was not made overnight!! Just think about it! 

Every nook and corner of India must get the new notes, banks to be educated,etc. THis is a close knit clever strategical move planned way ahead! 

Arunima Singh wrote:

Kalyani Nandurkar wrote:

It is a welcome move and this decision is being applauded and welcomed by all the leading economists in the country going by the large-scale debates that we can see on various channels. Even the small time industrialists, traders and farmers whose daily business transactions are done in cash are seen welcoming the move. Of course, it will indeed create trouble for common people due to the shortage of small currencies but I expect it will only be a short term effect and by December or January, once the new currency notes are well in circulation, there won't be any problem. This is a welcome move and I wonder if the timing to do so now has been influenced by UP elections in 2017 and to bring down certain political strongmen who cannot be touched otherwise? Just a thought.....

Definitely a smart move and also correct political timing..UP and Punjab election. Definitely he could sense the misuse of black money. Big impact on those strong men for sure

Yes, it was well thought of..with elections in both states around the corner, US presidential elections and what else, we can even fail to imagine. I think another industry which is bound to crash down on its own feet is the Bollywood, that is another sector where black money is generated big time.

usha manohar wrote:

Absolutely, lthe hawala money trail used by the terrorists will now be stopped until they think of some new way of doing it..

In anyway you look at this move, it is a multi pronged attack on Black money and Hawala Money.

rambabu wrote:

usha manohar wrote:

Absolutely, lthe hawala money trail used by the terrorists will now be stopped until they think of some new way of doing it..

In anyway you look at this move, it is a multi pronged attack on Black money and Hawala Money.

Of course, it is the main purpose of this surprise, quick operation. Why do you think he took the pain of banning all those notes, which according to RBI statistics, comprise almost 98% of the total value of money in circulation?

Swetha Shenoy wrote:

I do have my concerns over this move. I would be glad if someone throws light 

1. What about people who donot have bank account and heavily depend upon the stash of 500 or 1000 notes like say, maids,gardeners,farmers , elderly people etc

2.People fell deaf ears when there was a chance to adapt to credit/debit card transactions, Many petrol bunks and other restaurants always say excuses such as " the swipe system is not working"

3. the transport people such as autowalas will be rebelling this move?

4. If in course of time, will the prices of commodities come down? will taxes like swach bharat tax and krishi kalyan cess be eliminated? What would Government do with the undisclosed income (if they happen to claim all the black money with this move?)

I see that these sudden measures bring much panic to the common man!

There will be inconvenience to many for some days. No ATM transactions for two days. Bank closed for one day. Thereafter exchange of old notes and withdrawal with some restrictions. But ultimately, everything will be normal. The petty business men will be affected more. The big industrial houses have many ways to channelize black money. They don't keep currency notes in stock. It is mainly the petty businessmen and bureaucrats who will be put to inconvenience. But they will also solve their difficulty. One way is to get the old notes deposited in relatives' and other friends accounts and get back from them new currency notes by withdrawal.  In fact, RBI governor has advised people not to allow themselves be used by black money holders this way. But any way, people will adopt some tricks. It is the small fish that is caught in net. the Whales, big fish, crocodiles break the net and are not caught.