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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

#111

Post by personinsg »

ireadfaces wrote: post #108
personinsg wrote: post #103

Earlier quoted context omitted.

BBC is right in its analysis, this measure only targets 20% of Indian wealth. The richest 5% owning 80% of Indian wealth are at ease, only poor and middle class troubled. Moreover this 20% money will be available to them as cheap loans. The total money owed by big corporates in India is way bigger then this parallel black money. Also the person Rajan who was planning to reign this loans is forced out of office. Modi…

Demonetization is not a magical wand that will remove all the black money overnight. Now people who says it only for red middle and lower classes, know that it affected mostly people with black money in cash. Cash hoarders, Hawala money, counterfeit money and cash involved in rigging elections, help terrorism and many such illicit activities. Yes, middle class people will have to bear the pain of changing their curre…

It's being advertised as magic wand by the govt asking common man to endure 50 days of not necessary hardships. This measure only helps govt, it won't have any significant dent on real 80% wealth hoarders who are going to get access to hard earned money through banks and if govt gets more tax then in the form of contracts awarded to them. The proof is already there in the form adani and reliance group gettting major contracts.

This is a move to snatch money from common man and hand it over to rich class is a master stroke.

Re: India raises withdrawal limit as rupee anger mounts

#115

Post by known »

I appreciate Modi regime for their efforts to curb black money, though they failed to keep up their poll promises.

Before elections, we'll give OROP. After elections, we cannot do it;

Before elections, we'll clean GANGA. After elections, we cannot do it;

Before elections, we'll catch DAWOOD. After elections, we cannot do it;

Before elections, we'll solve KASHMIR. After elections, we cannot do it;

Before elections, we'll bring KOHINOOR. After elections, we cannot do it;

Before elections, we'll prosecute VADRA. After elections, we cannot do it;

Before elections, we'll prosecute DIKSHIT. After elections, we cannot do it;

Before elections, we'll build RAM-MANDIR. After elections, we cannot do it;

Before elections, we'll scrap ARTICLE370. After elections, we cannot do it;

Before elections, we'll end DYNASTY politics. After elections, we cannot do it;

Before elections, we'll create VIDARBHA state. After elections, we cannot do it;

Before elections, we'll give special STATUS to AP. After elections, we cannot do it;

Before elections, we'll disclose NETAJI documents. After elections, we cannot do it;

Before elections, we'll bring COMMON-CIVIL-CODE. After elections, we cannot do it;

Before elections, we'll DEPOSIT 15 lakhs in your a/c. After elections, we cannot do it;

Before elections, we'll prosecute SIKH-RIOT culprits. After elections, we cannot do it;

Before elections, we'll bring BLACK-MONEY in 100 days. After elections, we cannot do it;

Before elections, we're the HONEST. After elections, 50% Ministers have CRIMINAL cases;

Re: India raises withdrawal limit as rupee anger mounts

#116

Post by mavelikara »

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…

The move was _intially_ welcomed, but as the days went on massive flaws in execution became obvious. Hence people are upset.

Source: I am an Indian living in the US who has immediate family living in India.

Re: India raises withdrawal limit as rupee anger mounts

#117

Post by andrewvijay »

andrewvijay wrote: post #109

This is a huge pain in the ass for absolutely no gains whatsoever. Around 20 fucking people have died because of this very scheme. The worst thing is that there are so called educated fools down voting criticizing comments here even after witnessing all this mess and chaos. Absolute shambles!

UPDATE: 25 fucking people dead by now. Within 6 days. Refer this http://www.huffingtonpost.in/2016/11/15/demonetisation-death...

Re: India raises withdrawal limit as rupee anger mounts

#118

Post by danparsonson »

swatkat wrote: post #43
danparsonson wrote: post #39

Earlier quoted context omitted.

But then again, by definition those are not the people who are hurt the worst, because they have bank accounts.

You don't need a bank account to exchange demonetized currency notes.

No, but having a bank account and therefore a payment card a) gives you another means of paying for things besides cash, and b) likely means that you don't have your life savings in the form of now-invalid currency.

Re: India raises withdrawal limit as rupee anger mounts

#119

Post by seanmcdirmid »

leereeves wrote: post #110
seanmcdirmid wrote: post #105

Earlier quoted context omitted.

I don't know. I'm the only American-born scientist in my research lab (though not only US citizen), but is that really uncommon in tech? So maybe my situation is different? Living next to UCLA probably doesn't make it easier to mix with Trump supporters. When I was in China a few months before...well, expats aren't exactly known for being xenophobic white people.

Characterizing Trump supporters as "xenophobic white people" probably doesn't make it easier to mix with them either. You may know Trump supporters who just don't want to fight about it.

In LA county, Clinton got 60+% of the vote, I don't know many here (just moved from Beijing to LA in August), but they were all more apprehensive than me about the election results. I honestly think I've never met a trump supporter in real life, how many immigrants (many of the people I know) were enthusiastic about Trump anyways?

Abroad is the last place to meet a republican (at least outside of the high earning senior manager demographic), let alone a trump supporter. Ya, they just might not be talking about it, but it is a very self selective bunch of people that are going to be basically migrant workers in another country, they won't be anti immigrant since that would be too hypocrititical.

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