Yesterday everyone was talking about US election that was till our Hon PM Narendra Modi started his speech at about 8:00 pm. Nobody was expecting any major announcement but what he did was historical move which some economist claimed was the biggest attack on corruption in the history of India.
Below is what our PM said
And this changed the entire topic of debate. One side people were denying and claiming it was fake news and on other people were shocked, another SURGICAL STRIKE but this time ON CORRUPTION.
Yes he did it again and proved that he really is a leader capable of taking big decisions.
This decision got mixed reaction as people at first were unable o understand what was happening, people had loads of questions and some of the people are even now confused and don't know what is really happening.
In this post I will try to clear some things out (This is not directly related to army but u will be shocked how this affects our armed forces).
Firstly there are several posts where people depict as the notes u have (500 & 1000 RS) are useless and will have no value (people shown in post dumping them in garbage,burning them,wiping flow with it etc), but the thing is those are not waste and please do not do such stupid things (YOU CAN DEPOSIT IN MY ACC IF U WISH :P ). The old notes can be exchanged from banks after this 2 days closure which is declared (so that new notes can be circulated in banks and filled in ATM and all). Also these old notes can be used in govt offices, hospitals, toll booths, petrol pumps and medical stores(with people who have prescription for medicine) atleast till 11/Nov/2016 midnight. Although yes people mostly are not accepting those now even at these places (some due to panic and some because they simply have no change or cash left).
Some people think that 500 and 1000 rs currency is banned forever and that now the biggest denomination is of 100 rs but this is also NOT TRUE. RBI has introduced new types of 500 and 1000 rs notes (see pic below) and also new denomination of 2000 rs has been introduced, its just that it will take few days for circulation of these new notes so please do not panic.
People are panicking thinking that their hard earned money is useless and that it would be very difficult to exchange the old currency and this is not so (If you have white money that is). After these new notes are circulated to banks you can simply go to bank or even post offices near your place and exchange your 500 & 1000 rs notes for new ones. The thing is YOU WILL HAVE TO TAKE AN IDENTITY PROOF WITH YOU (PAN CARD,AADHAR,PASSPORT etc). Also you need to exchange the notes before 1 JAN 2017 (till 31 dec 2016).
Also if you fail to exchange the same before the above period you will have to fill some forms and exchange them along with declaration of your income (this will be bit complex).
Banks and ATM will be closed for two days (9/11 & 10/11) and this will cause bit inconvenience for few days as when banks will open scene would be like the rush hour in Rajeev chawk & other busy stations of Delhi metro. (THOSE WHO CANT RELATE CAN SEE BELOW)
For some time a limit has been introduced on ATM transactions and people can just withdraw only 2000 rs in one day and this will later be inc to 400 rs and then 1000 rs. After everything gets normal the old limit will be introduced.
CONCLUSION- This indeed will cause few days of inconvenience but its a big attack on corruption. Honest people need not worry about things and they just need not panic, same cant be said for corrupt.
3-4 days of inconvenience is not an issue for us( real INDIANS) as it will solve a major issue of our country.
IN NEXT PART I WILL TRY TO PUBLISH THE EFFECTS OF THIS MOVE AND HOW IT AFFECTS EVERY FIELD SO STAY UPDATED. ALSO DO LET ME KNOW IF I MISSED SOMETHING IN COMMENTS.
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