Could DeMon have been managed better ?
I saw the LocalCircles survey on demonetisation and cash usage this morning
https://www.localcircles.com/a/press/page/cash-in-circulation-survey
And I couldnt stop from
Commenting because I had voted in support on the Localcircles survey in late October 2016.
However the way people converted their black to white is what made demonetisation fail and that is why cash in circulation has doubled.
Basically a lot of that black money in old notes got converted into new notes.
Many bank managers, staff, petrol pump owners, jewellers, babus and netas were responsible for the failure.
India should consider another demonetisation of 2000 rupee not but implement it very very strictly and suddenly with no exceptions and exclusions. more
https://www.localcircles.com/a/press/page/cash-in-circulation-survey
And I couldnt stop from
Commenting because I had voted in support on the Localcircles survey in late October 2016.
However the way people converted their black to white is what made demonetisation fail and that is why cash in circulation has doubled.
Basically a lot of that black money in old notes got converted into new notes.
Many bank managers, staff, petrol pump owners, jewellers, babus and netas were responsible for the failure.
India should consider another demonetisation of 2000 rupee not but implement it very very strictly and suddenly with no exceptions and exclusions. more
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While I don’t find any evidence of home service for black money holders, certainly the process of returning the demonetised notes was slowly but certainly liberalised to the disadvantage of the aims of it. Certainly it had increased the tax payers and government revenue to a large extent. It’s my opinion that had that been followed up with demonetisation of 2000/- notes with in 2 years as prophesied by Sri Subramanya Swami, it would have possibly destroyed the black market but Government chickened out due to crash of GDP growth. India should be having another demonetisation once GDP growth is stabilised. more
Dec 01
Never will one achieve the ideal, which remains a benchmark to be strived for. Demonetization invigorated the drive towards digitisation, through the vast scope the digital solution offered over the earlier currency one - Decentralised payment collection, while centralising the accounting thereof, using technology. Today India's UPI has bettered the international payment technologies, better than the US, in truly unifying payments, optimising payments. more
Nov 24
Yes, implementation was an humongous blunder, every one who were supposed to make it a success used it to their own vested interest &made it a failure. Did you see one person in the que who did not look like a commoner? But doesn't the statistics show all the black money holders hade changed their black money to white, they were offered home service to change notes. One more demonetisation? One more wrong can't make it a right, even Modi will not dare to do that. These 2000 notes are coming handy to buy MLA's & plant money before a raiid more
Nov 11
Why not have an expiry date for all currency notes printed on top of it? It should only be deposited in their account in banks. This will drastically reduce this nuisance of hoarding. more
Nov 09
This is an old idea but will not suit the babus, therefore, it will never happen. Also, it is too complicated to implement because our population is not educated enough to read or understand the exchange mechanism. more
Nov 19
