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India raises withdrawal limit as rupee anger mounts

bbc.com

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Re: India raises withdrawal limit as rupee anger mounts

#81

Post by abrbhat »

manish_gill wrote: post #71
linuxkerneldev wrote: post #2

My understanding is that India's new rules on the high denomination notes was intended to curtail corruption. This was a major topic of discussion in my workplace as we have many Indian developers. Most of them were very proud that this action was taken. So it was a surprise to me to read the significantly negative tone in the BBC article. As a check, I googled "accuracy of BBC articles on India" and encountered the…

Rather than attacking the messenger and correlating it with the anecdotal evidence from the people you know, try to look at this objectively. - The white-collar middle class of course is lauding this move. Most of them (us) use digital money, are educated, want to see the corruption eradicated etc. - BUT, the majority of the population is poor, working class, not education enough. India is still a cash-based economy.…

Script-wise, it looks like the previous notes: https://en.wikipedia.org/wiki/File:2000_INR_Rev_2016.jpg

Re: India raises withdrawal limit as rupee anger mounts

#82

Post by sufiyan »

0xmohit wrote: post #16

I am amazed the amount of selfishness we exhibit. If I am unable to pick up groceries for the lack of cash, I can surely choose to order it online (using a credit/debt card). A vast majority of Indians cannot. A majority of Indians don't have access to banks either. They will be forced to exchange their now illegal currency with the help of agents who would charge them 50 to 60%. Most of the ATMs are out of cash. The…

The going rate for Rs.500 in Bangalore which is a fairly developed part of India is Rs. 180. So, your 60% number is not fully wrong.

Re: India raises withdrawal limit as rupee anger mounts

#83

Post by sufiyan »

kranner wrote: post #77
sufiyan wrote: post #46

Earlier quoted context omitted.

Nope. This decision seems to have happened at the whim of 3 people - the PM, the finance minister, the RBI governor. Clearly they didn't even proof read the notes. The back side of the 2k rupee notes is a mess. They screwed up the spelling of 2 in Hindi and 1000 in Urdu making it Bazaar from Hazaar

I can read Urdu and from what I can make out in images of the note, the Urdu text is fine. The font could have been better. The orthographic sign that makes the H in 'hazaar' is correct; the 'be' nuqta is a different shape. There should have been a hair-width's space after the 'dal' in 'do', but it is easily readable as 'dal' and not 'lam' as some people are claiming.

Yes. So, can I read Urdu and the hey looks like a bey. ب has the dot below it which you can clearly see in all images. ح doesn't have any dots beneath it.

Re: India raises withdrawal limit as rupee anger mounts

#84

Post by sufiyan »

susam wrote: post #70
sufiyan wrote: post #46

Earlier quoted context omitted.

Nope. This decision seems to have happened at the whim of 3 people - the PM, the finance minister, the RBI governor. Clearly they didn't even proof read the notes. The back side of the 2k rupee notes is a mess. They screwed up the spelling of 2 in Hindi and 1000 in Urdu making it Bazaar from Hazaar

"Two" appears as "दो" (do) in Hindi in the 2000 INR notes. This looks correct to me: https://en.wikipedia.org/wiki/File:2000_INR_Rev_2016.jpg (see the left edge of the note just below the string "2016"). If you are talking about "दोन" (don) appearing twice within the pink rectangular box, that's Konkani and Marathi, not Hindi. Two is indeed written as "दोन" (don) in Konkani and Marathi.

Then the question arises why write it like that twice. Why is not written in Hindi even once?

Re: India raises withdrawal limit as rupee anger mounts

#85

Post by susam »

sufiyan wrote: post #84
susam wrote: post #70

Earlier quoted context omitted.

"Two" appears as "दो" (do) in Hindi in the 2000 INR notes. This looks correct to me: https://en.wikipedia.org/wiki/File:2000_INR_Rev_2016.jpg (see the left edge of the note just below the string "2016"). If you are talking about "दोन" (don) appearing twice within the pink rectangular box, that's Konkani and Marathi, not Hindi. Two is indeed written as "दोन" (don) in Konkani and Marathi.

Then the question arises why write it like that twice. Why is not written in Hindi even once?

I thought I have explained that already in my previous comment. It is written like that twice because "Two" is "दोन" in Konkani as well as Marathi. Both languages are used in the language panel of the reverse side of the note.

"Two thousand rupees" (in English) = "दोन हजार रुपया" (in Konkani) = "दोन हजार रुपये" (in Marathi).

This is nothing new about the new 2000 INR notes. This is true for the older 5 INR, 10 INR, 20 INR, 50 INR, 100 INR, 500 INR and 1000 INR notes as well. The language panel shows only 15 of the 22 official languages of India, in alphabetical order. The 6th language in the language panel is Konkani and the 8th one is Marathi.

I have also explained in my previous comment that the denomination is also written in Hindi. Why do you think it is not written in Hindi even once? In fact, the denomination is written in Hindi on the reverse side of every note, outside the language panel, either at the bottom left corner or at the left edge. In fact, in the new 2000 INR notes, "दो हज़ार रुपये" is written in Hindi at the left edge of the reverse side of the note.

Re: India raises withdrawal limit as rupee anger mounts

#86

Post by kranner »

sufiyan wrote: post #83
kranner wrote: post #77

Earlier quoted context omitted.

I can read Urdu and from what I can make out in images of the note, the Urdu text is fine. The font could have been better. The orthographic sign that makes the H in 'hazaar' is correct; the 'be' nuqta is a different shape. There should have been a hair-width's space after the 'dal' in 'do', but it is easily readable as 'dal' and not 'lam' as some people are claiming.

Yes. So, can I read Urdu and the hey looks like a bey. ب has the dot below it which you can clearly see in all images. ح doesn't have any dots beneath it.

Hazaar is spelt with a choti he which does have that inverted comma under it (clearly distinguishable from a nuqta by the elongated head shape, as it is on the note (but it is tiny because the font size is tiny)).

Here's an example of hazaar with the spelling I mean: https://lh3.ggpht.com/FXu7LY_Ki5uDcYTcOWwMSxAL0lC9ttGLbNZrrT...

Re: India raises withdrawal limit as rupee anger mounts

#87

Post by sanmon3186 »

kranner wrote: post #67
ordinarySeeker wrote: post #54

Earlier quoted context omitted.

There is atleast some indication that the Modi government took some steps in the prior years/months to strategically encircle the medium to big hoarders of black money and soothe the impact of the drastic demonetization step on the poor. Having said that any action of this magnitude is bound to have misplanning, unintended consequences and hardship 2013 Under previous government Replace subsidies with direct deposits…

The timing is suspicious though, ahead of state elections in the key states of UP, Punjab, Gujarat and Goa. For campaigns that are largely fought on cash, depriving other parties of cash is the biggest advantage. Better timing would have been to wait until adoption of the Government's own pan-Indian electronic payment scheme ('Unified Payment Interface'), including giving small vendors card reading devices.

>The timing is suspicious though

Well, there are elections every year [1] in India in some or the other key states. Not denying what you are saying but any timing would raise political eyebrows. IMO average citizens have no problem with politicians drumbeating things that has positive impact.

[1] http://www.elections.in/upcoming-elections-in-india.html

Re: India raises withdrawal limit as rupee anger mounts

#88

Post by asenna »

kranner wrote: post #67
ordinarySeeker wrote: post #54

Earlier quoted context omitted.

There is atleast some indication that the Modi government took some steps in the prior years/months to strategically encircle the medium to big hoarders of black money and soothe the impact of the drastic demonetization step on the poor. Having said that any action of this magnitude is bound to have misplanning, unintended consequences and hardship 2013 Under previous government Replace subsidies with direct deposits…

The timing is suspicious though, ahead of state elections in the key states of UP, Punjab, Gujarat and Goa. For campaigns that are largely fought on cash, depriving other parties of cash is the biggest advantage. Better timing would have been to wait until adoption of the Government's own pan-Indian electronic payment scheme ('Unified Payment Interface'), including giving small vendors card reading devices.

There is always a major election coming up in India. By the time we're done with Gujarat (2018), there will be Rajasthan and a few others coming up. Not to mention the next Lok Sabha (Parliament) elections in 2019.

Yes, the timing does mean that major political parties in UP would be hurt because their insane amount of hoarded cash is in trouble but really, is that a bad thing?

As pointed out in comments above, this step does make sense given what the govt. has been trying to do to fight black money in the past 2 years.

In fact Modi keeps mentioning that this is not the last of the steps and there will be more measures coming into affect soon. Keeping the hoarders scared was really needed here.

If you're on the ground in India, you can tell people are thinking twice before selling their properties for cash (it's very common for people to sell for 70/30 or so ratio for white and black money) / other hoarding activities.

Re: India raises withdrawal limit as rupee anger mounts

#89

Post by kranner »

asenna wrote: post #88
kranner wrote: post #67

Earlier quoted context omitted.

The timing is suspicious though, ahead of state elections in the key states of UP, Punjab, Gujarat and Goa. For campaigns that are largely fought on cash, depriving other parties of cash is the biggest advantage. Better timing would have been to wait until adoption of the Government's own pan-Indian electronic payment scheme ('Unified Payment Interface'), including giving small vendors card reading devices.

There is always a major election coming up in India. By the time we're done with Gujarat (2018), there will be Rajasthan and a few others coming up. Not to mention the next Lok Sabha (Parliament) elections in 2019. Yes, the timing does mean that major political parties in UP would be hurt because their insane amount of hoarded cash is in trouble but really, is that a bad thing? As pointed out in comments above, this…

The bad or unfair thing is if the BJP is hurt less than its competitors, which is possible if they have more of the newly valid currency to spend. Whether they accumulated this before or after the announcement is irrelevant; but there is now a scarcity which can be manipulated.

Re: India raises withdrawal limit as rupee anger mounts

#90

Post by kid101 »

manish_gill wrote: post #71
linuxkerneldev wrote: post #2

My understanding is that India's new rules on the high denomination notes was intended to curtail corruption. This was a major topic of discussion in my workplace as we have many Indian developers. Most of them were very proud that this action was taken. So it was a surprise to me to read the significantly negative tone in the BBC article. As a check, I googled "accuracy of BBC articles on India" and encountered the…

Rather than attacking the messenger and correlating it with the anecdotal evidence from the people you know, try to look at this objectively. - The white-collar middle class of course is lauding this move. Most of them (us) use digital money, are educated, want to see the corruption eradicated etc. - BUT, the majority of the population is poor, working class, not education enough. India is still a cash-based economy.…

the kid did not die due to refusal of news. see the news article and the on record statement

The Indian media spreads rumor;all the time

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