RBI must mandate all banks to start compulsorily filling ATM's and ensure each and every ATM kiosk is attended to every day.
This will greatly reduce queues in bank branches as people at the end need cash and public will always prefer to meet his requirements in a nearby kiosk provided cash is available continuously.
This will also enable bank staffs to get back their normal operations, auditing and other necessary work which has gone out of priority due to cash queues.
I hope RBI issues a circulation to immediately start all ATM machines 24x7 now to ease out our problems.
Re: What next?
by jeya seelan seelan on Dec 21, 2016 10:14 PM
Few Atms are working with new 2000 others r not working , a man who gets 1000/3000 how he will withdraw his money
look at the figures of the IDS september 2016 scheme. As per Incometax department they got around 67382 crore worth declarations from around 71726 individuals. This is less than even 1 crore per declaration average. Now from this if we reduce the 9800 cr declared by one hyderabad realtor (who didnt pay the amount on time and hence we came to know), this will be around 57000 Crore from 71K individuals. It means around 80 lacs per declarants (its after assumption that there was no other big declaration) So, from this we can easily deduct that most of the declaration will be less than 50 lacs or possibly even less than 20-30 lacs.
Now just think over it again. Is 50 lacs money really the black money for which IT deptt will raid or is there something fishy. Will income tax department raid a person for 40-50 lacs only. I doubt. Now after seeing these figures, I can easily believe those people who told me that IT officers are harassing them. It seems after the raids IT officers have settled for some bribe and after getting the bribe asked person to only disclose say 5 lacs or may be 20 lacs.
So, my request to IT deptt is first nail its own IT officers who have failed its IDS 2016 scheme by taking bribes. Because they took bribe of say 50 lacs and said now show only 5 lacs as conceled income.
All banks should conduct some physical test...like 100m run for withdrawal...long jump for deposit. only the top fifteen can deposit or withdraw on a given day. for ladies they can have separate exercise like how many roti they can make in 15 mins..or how quickly they can sticth a handkerchief....etc Top performer will automatically qualify for the lucky draw that Niti Aayog will conduct.
Re: Next Move by Government and RBI
by jeya seelan seelan on Dec 21, 2016 10:17 PM
I am one of the fastest in 60 plus I equaled National record in 100 M and record in 200 M, so please keep 200M sir
During the september 2016, IT department started raiding people to make it successful. At that time, all newspapers were full of raids by income tax department on various businessman. Many people whom I talked were telling how IT officers harassed them and asked for the bribe. I dont know whether that was true or not, but it was based on listening from people. So, definitely there is a chance that most of it may be wrong. But seeing the corrupt record of income tax department it was sure that there is something fishy about these raids. Because people whom I talked said that "IT officers come and crux is "how much will you pay us". Once deal is finalized, they say OK now show only 5 lacs or 10 lacs as concealed income.
Now look at the figures of the scheme. As per Incometax department they got around 67382 crore worth declarations from around 71726 individuals. This is less than even 1 crore per declaration average. Now from this if we reduce the 9800 cr declared by one hyderabad realtor (who didnt pay the amount on time and hence we came to know), this will be around 57000 Crore from 71K individuals. It means around 80 lacs per declarants (its after assumption that there was no other big declaration) So, from this we can easily deduct that most of the declaration will be less than 50 lacs or possibly even less than 20-30 lacs.
Now just think over it again. Is 50 lacs money really the black money for which IT deptt will raid or is there something fishy. Will
Post what is popularly known as 'demonetisation', we all expected some inconvenience for a few days. But it has gone on for a longer period. Why did it happen? It is not fair to blame the government alone, as the steps they have taken were absolutely necessary and therefore there was little choice. But could they have handled it better? Arguably, yes! But did anyone also expect single individuals to hoard Crores of rupees worth new currency in a few weeks of its being rationed to customers? It shows a rot in our system and the governance for the past nearly 70 years is responsible for breeding greed and avarice and more importantly the confidence that they can get away with it... It is time that the public took an active part in vigilance and clean up the system.
Re: U turns or stipulations?
by Varadachari Narayanan on Dec 21, 2016 01:56 PM
It has become a fashion (unfortunately)to blame the past for present ills. Govt knew ( hopefully ) ground realities and should be prepared better. How can you withdraw 15.44 lakh crore worth of Notes overnight with only stock on hand of one-fourth of Notes in value ? Rank bad planning. Govt & RBI were not on same page on this & that is why in the 1st two week after 08/11 statements were being given only by Ministry and not by RBI which is the custodian of Notes. Thereafter Ministry washed off its hands when things went out of control followed by contradictory positions / statements by RBI & Ministry - even y/day on the latest restrictions. Govt took people for granted. Modi unfortunately thinks that lack of violent reactions from public as sign of support for his move. Poor thinking & BJP will pay for it later.
Re: U turns or stipulations?
by Ayyappan Ramasamy on Dec 21, 2016 10:04 PM
If we ask, Why did you study well? You will reply, My father did not study well in his school, so what I am.
Re: U turns or stipulations?
by Ayyappan Ramasamy on Dec 21, 2016 10:05 PM
If we ask, Why did not you study well? You will reply, My father did not study well in his school, so what I am.
1. Cash withdrawal on alternate days. 2. No withdrawal permitted on New Moon / Full Moon days ? 3. Citizens to file online Monthly Returns on expenses in cash... List is endless
Re: RESERVED BRAIN OF INDIA(RBI)
by san b on Dec 21, 2016 01:46 PM
not even politicians/industrialist to converts their 'white money' lying at their homes? or has it been safely tucked in swiss banks under the watchful eye of NDA & UPA govt?! ha ha ha
