How 500-1000 Currency Notes AFfecting you Guys?

newinbtc

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Quote from: bitcoinisbest on December 05, 2016, 12:27:11 PM

Quote from: newinbtc on December 05, 2016, 06:48:38 AM

Quote from: bitcoinisbest on December 05, 2016, 04:31:22 AM

Quote from: kiranrh on December 05, 2016, 02:21:58 AM

It Affected lot But after 3 days everything was normal. In ATM's also there is no much queues from a week. Overall Its a gud decision.

Many ATM are still not functioning still and on Sat- Sunday in urban areas many ATM were out of cash.
The lines are reduced in the banks though due to currency exchange have being stopped. SO only customers of respective bank can go and withdraw/deposit now form their banks.

Many ATM are still not functioning still and on Sat- Sunday in urban areas many ATM were out of cash.
This is due to Managers Setting......

The lines are reduced in the banks though due to currency exchange have being stopped.
No Lines are same as They want to withdraw money but bank pays limited money daily Here they give 2500 rs each person.

IF you have cheque of 10,000 rs and you need cash in hand you need to transfer funds in bank and need to stay in line for 4 days to get that money and its not surety you will get daily cash as they have lack of funds...

Could you tell me from where are you , as now lines have reduce comparatively in the bank to deposit and withdraw. Though the withdrawal is given is limited due to limited cash received by the bank themselves and they would like to give to as many as possible. Well in ATM, I am not sure about the Manager setting or not as of now nothing as appeared in the news as well for this type of case.

----
have you Heard Delhi Kashmiri gate Axis bank news In Television
http://www.newindianexpress.com/business/demonetisation/2016/dec/05/two-axis-bank-managers-held-for-money-laundering-in-delhi-1545863.html

This is truth Buddy
I accept Lines reduced but Still Regular Customers face issue while Entering in banks due to crowd outside bank to withdraw money from bank...

rajasumi2

full member

Activity: 196

Merit: 100

It is affecting quite a bit .as all atms are only caliberated with 2000 rs notes because with that u cant buy anything like that until and unless u are in a shopping mall .well untol and unless there is full caliberation of 500 rs notes .the problem will be faced .kudoos

Clement Kaliyar

hero member

Activity: 1302

Merit: 532

Things are getting worse now,i am not able to get change from anywhere,all i get is 2000 rupees from ATM machines and you could get only one single currency per card per day and you could not even get a change from any shop as no one is able to provide changes,so basically there is no use for the currency at the moment,really pathetic situation Angry

bitcoinisbest

hero member

Activity: 1218

Merit: 557

Quote from: newinbtc on December 05, 2016, 06:48:38 AM

Quote from: bitcoinisbest on December 05, 2016, 04:31:22 AM

Quote from: kiranrh on December 05, 2016, 02:21:58 AM

It Affected lot But after 3 days everything was normal. In ATM's also there is no much queues from a week. Overall Its a gud decision.

Many ATM are still not functioning still and on Sat- Sunday in urban areas many ATM were out of cash.
The lines are reduced in the banks though due to currency exchange have being stopped. SO only customers of respective bank can go and withdraw/deposit now form their banks.

Many ATM are still not functioning still and on Sat- Sunday in urban areas many ATM were out of cash.
This is due to Managers Setting......

The lines are reduced in the banks though due to currency exchange have being stopped.
No Lines are same as They want to withdraw money but bank pays limited money daily Here they give 2500 rs each person.

IF you have cheque of 10,000 rs and you need cash in hand you need to transfer funds in bank and need to stay in line for 4 days to get that money and its not surety you will get daily cash as they have lack of funds...

Could you tell me from where are you , as now lines have reduce comparatively in the bank to deposit and withdraw. Though the withdrawal is given is limited due to limited cash received by the bank themselves and they would like to give to as many as possible. Well in ATM, I am not sure about the Manager setting or not as of now nothing as appeared in the news as well for this type of case.

newinbtc

legendary

Activity: 1190

Merit: 1001

Quote from: bitcoinisbest on December 05, 2016, 04:31:22 AM

Quote from: kiranrh on December 05, 2016, 02:21:58 AM

It Affected lot But after 3 days everything was normal. In ATM's also there is no much queues from a week. Overall Its a gud decision.

Many ATM are still not functioning still and on Sat- Sunday in urban areas many ATM were out of cash.
The lines are reduced in the banks though due to currency exchange have being stopped. SO only customers of respective bank can go and withdraw/deposit now form their banks.

Many ATM are still not functioning still and on Sat- Sunday in urban areas many ATM were out of cash.
This is due to Managers Setting......

The lines are reduced in the banks though due to currency exchange have being stopped.
No Lines are same as They want to withdraw money but bank pays limited money daily Here they give 2500 rs each person.

IF you have cheque of 10,000 rs and you need cash in hand you need to transfer funds in bank and need to stay in line for 4 days to get that money and its not surety you will get daily cash as they have lack of funds...

zahra4577

hero member

Activity: 518

Merit: 500

Quote from: ajayghayal on November 15, 2016, 10:46:57 AM

HI all members,
After 8th November 2016, how the demonetization of 500-1000 currency notes are affecting you?
Will it be beneficial for common people? What are your views my dear friends?
ajayghayal

i wholeheartedly support this demonetization by present Government as I strongly believe it will curb the menance of black money and corruption to a very large extent.Yes this sudden decision have caused some trouble to us common man also as we have to deal with cash shortage but as a good citizen we must take it in our stride and hope things will become normal soon

bitcoinisbest

hero member

Activity: 1218

Merit: 557

Quote from: kiranrh on December 05, 2016, 02:21:58 AM

It Affected lot But after 3 days everything was normal. In ATM's also there is no much queues from a week. Overall Its a gud decision.

Many ATM are still not functioning still and on Sat- Sunday in urban areas many ATM were out of cash.
The lines are reduced in the banks though due to currency exchange have being stopped. SO only customers of respective bank can go and withdraw/deposit now form their banks.

kiranrh

member

Activity: 110

Merit: 10

It Affected lot But after 3 days everything was normal. In ATM's also there is no much queues from a week. Overall Its a gud decision.

nizamcc

legendary

Activity: 1218

Merit: 1007

Quote from: rajasumi3 on November 25, 2016, 12:16:54 PM

Black money holders are having a bad time that they cant use it any more .well to be honest it is best for the common man .but trust me it can turn out to be the worst that the price of all the things would go up drastically .so hope it does not happen and we live happily .

No bad times for them, Raja, no bad times seriously.
They already managed everything way before this happened. You understand why Mr. Ambani launched Jio suddenly and gave so much free data? Is that guy out of his mind? Do you know many BJP branches deposited few crores in bank accounts just before this announcement? And even after this announcement, do you still think that these black money holders aren't exchanging their black money for white through different ways?

Blackshadow007

sr. member

Activity: 787

Merit: 276

Currency Xchanger™

It is difficult cause the ATM withdraw limited , and there is huge queue on banks and ATM .. but i guess we may see some good effect in long term . I guess more one or two months we have to suffer to get stabilized Sad

eaLiTy

hero member

Activity: 2814

Merit: 911

Have Fun )@@( Stay Safe

It is pure hectic and troublesome for me as i landed here on 9th without knowing this new rule and exchanged all the money to old currencies and got trapped as i was not able to use it even with a legal tender at hand,i do like the bold decision they took but they should have taken some steps inorder to counter the difficulties a common man encounters.

rajasumi3

full member

Activity: 266

Merit: 100

Black money holders are having a bad time that they cant use it any more .well to be honest it is best for the common man .but trust me it can turn out to be the worst that the price of all the things would go up drastically .so hope it does not happen and we live happily .

bitcoinisbest

hero member

Activity: 1218

Merit: 557

Quote from: jjjack on November 25, 2016, 05:06:17 AM

if u have a black money that time only it will affect or other wise it wont affect any one i my point of view the idea was good at the end of the day it the value of bitcoin will increase next time black money holder will invest in bitcoin

That is true but only thin was the long queues in the bank and then knowing only 2000 Rs notes available and not 500 or 100 is something a big worry as smaller denomination like 500 should be available the maximum rather than 2000.

jjjack

newbie

Activity: 14

Merit: 0

if u have a black money that time only it will affect or other wise it wont affect any one i my point of view the idea was good at the end of the day it the value of bitcoin will increase next time black money holder will invest in bitcoin

nizamcc

legendary

Activity: 1218

Merit: 1007

Quote from: erikalui on November 20, 2016, 01:43:37 PM

Quote from: nizamcc on November 17, 2016, 08:07:03 AM

Quote from: erikalui on November 16, 2016, 03:29:31 PM

For me, it did not make any difference as I mostly use my debit/credit cards and that day I did not have any 500/1000 notes as I had change available. I was about to withdraw cash when the news came out and then after 2 days, I got the new notes. It is affecting many shops in my area as barely there are people buying from them due to shortage of currency.

You were lucky enough to have change available with yourself, as I was just having one 500 note with me when the announcement was made, and as nobody except banks were taking the note at my place, I stayed hungry for 3 days. No doubt it was my fault that I didn't go to banks due to my laziness, but this step affected me in that way.

That's sad to hear and hope the situation has improved now.

I had just Rs. 700 but I managed with debit card payments. I don't know what's coming in the next few days as my bank ICICI has no money in its ATM and my area ATMs too are without cash. Most shops here don't accept debit cards and I hope that the banks cooperate.

I support the initiative that has been taken by the PM, but IMHO, the implementation was worst.
The ones who are suffering currently are the common man only, because even if people had black money, I saw many to have their cash managed to turn out to current new cash without any hassle, with some % on those exchanges.

philiveyjr

legendary

Activity: 840

Merit: 1000

Had similar problems. Atm's are too overcrowded but today seemed to be much better than last week. Hoping things would improve in the coming weeks. Don't have much cash to exchange, and have been making all my transactions using debit cards, so fine for now.

erikalui

legendary

Activity: 2632

Merit: 1094

Quote from: nizamcc on November 17, 2016, 08:07:03 AM

Quote from: erikalui on November 16, 2016, 03:29:31 PM

For me, it did not make any difference as I mostly use my debit/credit cards and that day I did not have any 500/1000 notes as I had change available. I was about to withdraw cash when the news came out and then after 2 days, I got the new notes. It is affecting many shops in my area as barely there are people buying from them due to shortage of currency.

You were lucky enough to have change available with yourself, as I was just having one 500 note with me when the announcement was made, and as nobody except banks were taking the note at my place, I stayed hungry for 3 days. No doubt it was my fault that I didn't go to banks due to my laziness, but this step affected me in that way.

That's sad to hear and hope the situation has improved now.

I had just Rs. 700 but I managed with debit card payments. I don't know what's coming in the next few days as my bank ICICI has no money in its ATM and my area ATMs too are without cash. Most shops here don't accept debit cards and I hope that the banks cooperate.

Sahyadri

sr. member

Activity: 744

Merit: 266

Was not affected at all.

Most of my transactions are online. Have Rs. 6000 worth of Rs 500 & 1000 notes which I havent exchanged yet. Will deposit on Monday as the rush has decreased.

Had Rs 600 worth change which was sufficient cash for me

pvaspecialist

sr. member

Activity: 294

Merit: 250

I think common people will not affect with this decision.they don't have huge money common people don't benefit with this decision but this decision will really helpful for Govt. to catch corrupt people.Govt. need to catch big whale who have money on Swiss bank.lets see how govt. can handle this situation.

susila_bai

hero member

Activity: 1260

Merit: 524

Quote from: nizamcc on November 17, 2016, 08:07:03 AM

Quote from: erikalui on November 16, 2016, 03:29:31 PM

For me, it did not make any difference as I mostly use my debit/credit cards and that day I did not have any 500/1000 notes as I had change available. I was about to withdraw cash when the news came out and then after 2 days, I got the new notes. It is affecting many shops in my area as barely there are people buying from them due to shortage of currency.

You were lucky enough to have change available with yourself, as I was just having one 500 note with me when the announcement was made, and as nobody except banks were taking the note at my place, I stayed hungry for 3 days. No doubt it was my fault that I didn't go to banks due to my laziness, but this step affected me in that way.

you are speaking about yourself but think about the common and village peoples where their is only one bank for 2 or more villages they are staying in ques for more then 2 or 3 days to just change or withdraw money and that too only 4000.

The policy of changing note is good but they should have made full facility of after the announcement how the people will be changing it . without any proper paper work done of after announcement they have announced it and now they are not able to manage the situation

xdrpx

hero member

Activity: 616

Merit: 603

I haven't been deeply scarred or affected by this initiative. Modi's Government chosen the right path to regulate and refine the Banking industry and to curb corruption, fake currencies and black money. Like advertised on TV's and radio's, it's going to be a bit difficult in the initial days standing in long queues at banks to deposit and exchange (with the exchange limits in place and this getting lesser as well), but at the end of the day it's the essence of victory that we should feel when it comes to those black money hoarders living on peoples hard earned cash without contributing back to the Government for the nations development.

nizamcc

legendary

Activity: 1218

Merit: 1007

Quote from: erikalui on November 16, 2016, 03:29:31 PM

For me, it did not make any difference as I mostly use my debit/credit cards and that day I did not have any 500/1000 notes as I had change available. I was about to withdraw cash when the news came out and then after 2 days, I got the new notes. It is affecting many shops in my area as barely there are people buying from them due to shortage of currency.

You were lucky enough to have change available with yourself, as I was just having one 500 note with me when the announcement was made, and as nobody except banks were taking the note at my place, I stayed hungry for 3 days. No doubt it was my fault that I didn't go to banks due to my laziness, but this step affected me in that way.

erikalui

legendary

Activity: 2632

Merit: 1094

For me, it did not make any difference as I mostly use my debit/credit cards and that day I did not have any 500/1000 notes as I had change available. I was about to withdraw cash when the news came out and then after 2 days, I got the new notes. It is affecting many shops in my area as barely there are people buying from them due to shortage of currency.

Rude Boy

hero member

Activity: 770

Merit: 500

Yes of course, it affects me a lot. Not only me, most of the peoples were affected. I didn't received this month's salary because, a person can withdraw only Rs.4000 per day so my owner cannot afford to give us the salary and he didn't kept his money on hand.

philiveyjr

legendary

Activity: 840

Merit: 1000

Obviously I don't have tons of cash in hand and most of it is in 500/1000's. So definitely has affected me and my family in the short term, but I am rooting for the bigger good. Hopefully the cause it aims to achieve can be successful.

bitcoinisbest

hero member

Activity: 1218

Merit: 557

It has effected each and everyone of the country persons. For black money hoarders thinking what to do and for people who dont have much money left thinking when will they get money from the bank.

Forbiddenone

sr. member

Activity: 585

Merit: 251

Quote from: ajayghayal on November 15, 2016, 10:46:57 AM

HI all members,
After 8th November 2016, how the demonetization of 500-1000 currency notes are affecting you?
Will it be beneficial for common people? What are your views my dear friends?
ajayghayal

It doesn't affect me,goverment is doing right thing in introducing new notes as it will decrease the illegal thing done by notes.but it will not affect bitcoin dark marketplace.

ajayghayal

newbie

Activity: 1

Merit: 0

HI all members,
After 8th November 2016, how the demonetization of 500-1000 currency notes are affecting you?
Will it be beneficial for common people? What are your views my dear friends?
ajayghayal

Topic: How 500-1000 Currency Notes AFfecting you Guys? (Read 2230 times)