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Rs 500 and Rs 1,000 notes pulled out of circulation immediately


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I did the calculations for my business and it was not worth it to set up a card machine. 5% people will pay with cards which will cost me 2-3% something for me per transaction plus a fixed monthly cost of 350 Rs + 500 Rs for internet. Complete waste of money. And what is this extra cost for, for collecting money? f**k off, I can do that myself, I don't need to pay for a service when I can do that for free myself.

You wouldn't be all that happy if government made a 1200 Rs per month BSNL connection with internet compulsary in every home (regardless of what other internet connection you use) in the name of Digital India. (Or maybe yes, it's hard to understand the govt's supporters these days, they seem to justify everything) If you have to pay for it, it needs to be optional.

 

It is cheaper for me to just tell those card carrying customers to go away and concentrate on the 95% who actually have some money.

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I did the calculations for my business and it was not worth it to set up a card machine.

Because your business is very average. Our country needs small businesses that create innovative products and services, which in turn creates better jobs for everyone.
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Atleast I run a business that feeds a few families. The one thing I learnt from this demonetisation fiasco is that so called educated salaried people don't give a f**k about other people's problems. In turn, the rest don't really care about what problems you have. If ATMs don't work, I don't care. I earn my money in cash so I don't have to queue up outside ATMs or use PayTM or sh*t like that. You have the need to do that, not me. I resumed my normal life more than a month ago, while people still queue up outside ATMs.

 

One thing we could certainly have less of is people who think they should tell what others should do. Don't eat beef, don't make memes mocking our PM, don't pay cash; this is slowly turning into an autocracy. If you love your cards so much, use them yourself.

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Atleast I run a business that feeds a few families. The one thing I learnt from this demonetisation fiasco is that so called educated salaried people don't give a f**k about other people's problems. In turn, the rest don't really care about what problems you have. If ATMs don't work, I don't care. I earn my money in cash so I don't have to queue up outside ATMs or use PayTM or sh*t like that. You have the need to do that, not me. I resumed my normal life more than a month ago, while people still queue up outside ATMs.

 

One thing we could certainly have less of is people who think they should tell what others should do. Don't eat beef, don't make memes mocking our PM, don't pay cash; this is slowly turning into an autocracy. If you love your cards so much, use them yourself.

I agree about the beef and memes but when 1% of the country pays income tax, the people needed to be kicked up their a*s. India will never move forward without regulations for businesses in place and you know it.
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http://economictimes.indiatimes.com/wealth/spend/demonetisation-ussd-technology-to-pay-digitally-without-internet/articleshow/55574701.cms

 

The whole point of demonetization was to get people to start using digital payments. So if small businesses can't adapt and accept them, it's their fault.

Ohhh so now it was all about boosting digital payments.

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I agree about the beef and memes but when 1% of the country pays income tax, the people needed to be kicked up their a*s. India will never move forward without regulations for businesses in place and you know it.

 

Regulations are absolutely necessary but if you control too much it will only stifle business and it will be like the pre 1991 days. Moreover this move (forcing digital payments) affects both seller and buyer, while at the same time not being adequate enough to stop corrpution and at the same time putting additional cost burden on anyone. The only one who gains is the likes of PayTM.

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Regulations are absolutely necessary but if you control too much it will only stifle business and it will be like the pre 1991 days. Moreover this move (forcing digital payments) affects both seller and buyer, while at the same time not being adequate enough to stop corrpution and at the same time putting additional cost burden on anyone. The only one who gains is the likes of PayTM.

Like I said, when 1% of the country pays income tax, the government needs to become more strict.
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This Anshul guy clearly knows nothing about what he's talking. When he's losing an argument he says 'I dont have time for this' or 'Its like talking to a 5 year old'. Lad the only 5 year old here is you and you're clearly utterly f**king clueless about the objective of the move and the challenges involved by it.

 

If the move is to go 'cashless' or 'digital' then I suggest you shut the f**k up and take a look at the world around you. Cashless is impossible. Especially in a country like India which culturally likes things tangible. Besides, why the f**k should I enrich the hands of the banks when I can take care of my money myself. The bank levy a charge saying 'its not easy maintaing other people's money'. Yet we are forced to use the banks and then pay a charge for them to take care of my money - what I'd have done myself in the first place.

 

Bank is meant to be voluntary. Not the be all and end all of everything.

 

You know I'd rather have a discussion with other people here who are open to actual discussion than someone like you who states 'oh you're a 5 year old. Oh I dont have time for you guys'. Then dont get involved in the debate.

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This Anshul guy clearly knows nothing about what he's talking. When he's losing an argument he says 'I dont have time for this' or 'Its like talking to a 5 year old'. Lad the only 5 year old here is you and you're clearly utterly f**king clueless about the objective of the move and the challenges involved by it.

 

If the move is to go 'cashless' or 'digital' then I suggest you shut the f**k up and take a look at the world around you. Cashless is impossible. Especially in a country like India which culturally likes things tangible. Besides, why the f**k should I enrich the hands of the banks when I can take care of my money myself. The bank levy a charge saying 'its not easy maintaing other people's money'. Yet we are forced to use the banks and then pay a charge for them to take care of my money - what I'd have done myself in the first place.

 

Bank is meant to be voluntary. Not the be all and end all of everything.

 

You know I'd rather have a discussion with other people here who are open to actual discussion than someone like you who states 'oh you're a 5 year old. Oh I dont have time for you guys'. Then dont get involved in the debate.

He went way off topic and I'm not going to write a 10 page paper on the effects of demonetization and neither has anyone here. And he was clearly wrong about the smartphone requirement for digital payments and hasn't come up with a counter to that yet, which was the point I made in the first place.
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Like I said, when 1% of the country pays income tax, the government needs to become more strict.

 

First of all it's 3% and moreover its not like the other 97% are hiding cash somewhere. Nearly all of them don't earn enough to be taxed.

Secondly, govt tax is a secondary consideration. People don't earn money to pay tax, they earn to spend on essential things, and a cut goes to tax. Govt cannot restrict people's right to their entire own money just because they don't get their share. Most of the people who were troubled due to demonetisation were the ones who cannot be taxed, and it remains the same now. They just dont earn enough.

 

You know what that 3% taxpapers signifies? Not that everyone is corrupt and hiding money. It shows the wealth inequality. You'd atleast agree that way more than 3% of the country earns salaries or does business completely in white. Why aren't more people paying taxes then?

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I would say get out of the metro cities and go to villages and see what state the country is in before talking about going cashless. I think even metro cities are not well equipped and to go cashless.

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@Anshul

I suggest you try some empathy too. It helps.

Some of the comments of yours that I read are make me sad.

A lot of people were dealt a terrible hand, I acknowledge that, but if you don't think it affects the economy... I'd probably have to write a whole book to complete this argument. So let's move on. :)
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It's astonishing how willing people are to swallow this digital India garbage hook line and sinker just because it comes from a party/person they worship.

 

I swear if Modi tomorrow abolishes all currency we will see these same economic geniuses put forward a case for the barter system.

 

"If your auto guy can't exchange 2 packs of Maggi for his auto fare he deserves to be poor."

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It's astonishing how willing people are to swallow this digital India garbage hook line and sinker just because it comes from a party/person they worship.

 

I swear if Modi tomorrow abolishes all currency we will see these same economic geniuses put forward a case for the barter system.

 

"If your auto guy can't exchange 2 packs of Maggi for his auto fare he deserves to be poor."

:rofl:

 

And with the term over, things bit Better, this will be the last day for this thread, as all it will do is gain political steam now.

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Things arent better though. The very fact we have a limit on cash withdrawal means things arent better. They arent normal.

 

Also, thread should stay open. Lets not clamp down on freedom to express how we feel on a particular topic. If it derides to political debates, it stems out of this subject. Delete posts which are malicious. Better of handling it, in my opinion.

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Things arent better though. The very fact we have a limit on cash withdrawal means things arent better. They arent normal.

 

Also, thread should stay open. Lets not clamp down on freedom to express how we feel on a particular topic. If it derides to political debates, it stems out of this subject. Delete posts which are malicious. Better of handling it, in my opinion.

We don't allow political stuff here, and there is nothing left to discuss. If you want to continue this discussion please go to forums like www.namokibaatsuno.com/forums.

 

We have other things to do then to moderate this sh*t, obviously if admins think otherwise, please continue.

 

Sent from my SM-G935F using Tapatalk

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We don't allow political stuff here, and there is nothing left to discuss. If you want to continue this discussion please go to forums like www.namokibaatsuno.com/forums.

 

We have other things to do then to moderate this sh*t, obviously if admins think otherwise, please continue.

 

Sent from my SM-G935F using Tapatalk

 

 

Its hardly like you're going through each post. Just sift through them or wait for the 'report' function. It'll be used effectively when things cross the line.

 

Eitherway, it is eventually down to the mods. By the ultimate objective is to discuss the demonitisation drive and its not over. Its open till 31st March in RBI. So alluding it to be over is wrong, both in practice and in thoery.

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I would say lock it down. There is nothing new to add in this thread. At least then I wont have to read bullshit regurgitations from Bhakts about why this mess happened in the first place. Black money. Nope, wait its about ending Terrorism. Nope hang on, its about fighting fake currency. Nope digital India.

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