The Indian government is set to endorse Universal Basic Income

You shouldn't have kept so much INR with you in the first place. What is the necessity to keep 1.5 lakhs hard cash in US when you can't even use it? Most of my NRI friends don't even carry cash. Even when I travel abroad I normally use International Debit/Credit cards issued by my bank. If there is a dire need to carry cash I normally convert it to dollars as soon as I land in the destination country.

You kept this stash of money without converting it to the dollar equivalent. It makes no sense to me at all and raises even more suspicions. Also, most of my NRI friends have NRO accounts which they have already used to deposit their old notes when they visited India during the demonetization phase. So it is purely your own doing to hoard INR in a country where it is not even recognized for trade.

> I don't want any privilege, I just want my hard earned money back.

In all possibility, you won't get it back. You had all the time in the World to convert your INR to USD through a local money exchanger. But you chose not to and decided (for whatever reason) to hoard it instead. If I were you, I would have converted my INR to USD as soon as I landed in US. I would rather have US dollars than have INR. If I needed INR I could have easily converted it back when I landed in India.

> I am not a blind bhakt. I lost 1.5 lakhs in this Modi's scam, this scam also destroyed my father's business in India. Modi killed over 100 people and destroyed millions of jobs, so he can write off bad loans worth billions for his cronies.

Nobody killed anyone or destroyed "millions of jobs". It is your own doing. You chose to stash INR instead of converting it to USD as soon as you landed in US.

He never said he will "write off bad loans". You are now spreading pure propaganda. He only classified these bad loans as NPA. Learn the difference between a loan write off and an NPA before spouting nonsense.

edit: consumption increases despite the distribution being balanced since it's assumed that the transfer is from a minority of tax payers with significant income/assets to a majority that sees a substantial increase to their minimum guaranteed cash flow.

It's my hard earned tax paid money, and its my choice in what form I want to keep it.

The currency note says "I promise to pay the bearer the sum of one thousand rupees."

The Government and RBI are defaulting on their debt obligation against the promissory note. It is plunder and loot of massive proportion, even Congress wasn't this corrupt.

> So it is purely your own doing

My fault is that I trusted Indian Government and economy. After suffering through this Modi scam; my #1 priority is to close all my accounts in India, liquidate all my assets in India and withdraw all investments from India.

I will never make the mistake of trusting Indian Government and economy again.

Sure you can. But you need to bear the consequences as legal tender does not have unlimited liability (in other words: the debt obligation is not absolute). Because the Section 26, sub-section (2) of the Reserve Bank of India Act, empowers the Union Government on the recommendation of Central Board to declare that "any notes issued by the Reserve Bank will no longer be legal tender."

Also, Section 26, sub-section (1) of the Reserve Bank of India Act states that: "Subject to the provisions of sub-section (2), every bank note shall be legal tender at any place in 4[India] in payment or on account for the amount expressed therein, and shall be guaranteed by the 5[Central Government]."

It clearly states that the bank note will be legal tender at any place in India and shall be guaranteed by the Central Government. It does not say that the bank note will be legal tender outside India and does not give any guarantees. Yet, the Government opened a window for NRI's to deposit their notes (if they have any) with their respective Indian banks in India.

> The Government and RBI are defaulting on their debt obligation against the promissory note. It is plunder and loot of massive proportion, even Congress wasn't this corrupt.

That's your opinion. I don't believe it is plunder or loot. Hoarding of cash (whether tax is paid or not) is equivalent to loot as it stops the money from being in circulation thereby causing the RBI to print more and more notes to compensate for an increasing demand for these paper notes. If you had deposited in the banks the Government would have used it for public good (and guaranteed you interest + principal amount). Notes that have been hoarded are neither useful for the Government, for the public nor for the hoarder thereby putting a huge stress on the overall economy. Unfortunately for you, you fall in the basket of hoarders who paid tax rather than basket of hoarders who did not pay tax (black money hoarders). But you hoarded nevertheless and there in lies the problem. You may say it's only 1.5 lakhs. But just imagine if every single of the 1.25 billion Indians think the same way. Like I said earlier, all my NRI friends used to deposit their money into their NRO/NRE accounts and if they carried cash they would convert to equivalent USD as soon as they landed in US. I mean, who in their right mind would not want USD in favor of INR? Especially outside India where it has no legal value (except in Nepal and Bhutan)?

> My fault is that I trusted Indian Government and economy. After suffering through this Modi scam; my #1 priority is to close all my accounts in India, liquidate all my assets in India and withdraw all investments from India. I will never make the mistake of trusting Indian Government and economy again.

But you will trust a Government that prints "In God we Trust" on it's own notes? Was it not Roosevelt who passed the "Executive Order 6102" in 1933 which "forbids the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States"? The reason given by Roosevelt: "Hoarding of Gold stalled economic growth and made depression worse".

Also read up on "The Crime of 1873".