First Day:
You can change Rs. 4000 at one go.
I assumed that I may change Rs. 4000 every day.
Second Day:
You can change Rs. 4000 only once a week. The limit was later raised to Rs. 4500.
I planned to change my notes every week. This amount is enough to last a week for my routine needs.
Third Day:
Indelible ink will be used to prevent multiple use of this facility. This is in order to stop unscrupulous people from beating the system.
I am worried because the indelible mark may not go away in a week. Media and many economic pundits are going ga ga over this announcement. They are hoping for a futuristic smart country where everyone; from roadside beggar to kantabai to gorkha to flower seller; would start using plastic money. The Paytm partner Alibaba must be throwing a party to his forty friends.
My Assumptions About Possible Future Announcements:
Fourth Day: Iris scan and finger imprints will be taken at the time of currency exchange and withdrawal. This is in order to prevent miscreants from siphoning off with money.
Fifth Day: Video recording will be done and videographer will be specially appointed by the Central Government. State governments are not allowed to interfere in this matter as money comes under Union List.
Meanwhile, numerous PILs have been filed in the Supreme Court of India against this order. The Supreme Court which is normally very fast in hearing cases of high importance is showing a lackadaisical attitude. It has given 25 November as the next day of hearing. I am assuming that the government must be thinking that enthusiasm of TV reporters and opposition leaders would fizzle out by that time. Everyone would forget the plight of millions of Indians who will be standing in endless queue. People of India usually adjust with myriad problems. So, everyone would learn to live with this man-made disaster for many months to come.
Future:
Jai Hind
You can change Rs. 4000 at one go.
I assumed that I may change Rs. 4000 every day.
Second Day:
You can change Rs. 4000 only once a week. The limit was later raised to Rs. 4500.
I planned to change my notes every week. This amount is enough to last a week for my routine needs.
Third Day:
Indelible ink will be used to prevent multiple use of this facility. This is in order to stop unscrupulous people from beating the system.
I am worried because the indelible mark may not go away in a week. Media and many economic pundits are going ga ga over this announcement. They are hoping for a futuristic smart country where everyone; from roadside beggar to kantabai to gorkha to flower seller; would start using plastic money. The Paytm partner Alibaba must be throwing a party to his forty friends.
My Assumptions About Possible Future Announcements:
Fourth Day: Iris scan and finger imprints will be taken at the time of currency exchange and withdrawal. This is in order to prevent miscreants from siphoning off with money.
Fifth Day: Video recording will be done and videographer will be specially appointed by the Central Government. State governments are not allowed to interfere in this matter as money comes under Union List.
Meanwhile, numerous PILs have been filed in the Supreme Court of India against this order. The Supreme Court which is normally very fast in hearing cases of high importance is showing a lackadaisical attitude. It has given 25 November as the next day of hearing. I am assuming that the government must be thinking that enthusiasm of TV reporters and opposition leaders would fizzle out by that time. Everyone would forget the plight of millions of Indians who will be standing in endless queue. People of India usually adjust with myriad problems. So, everyone would learn to live with this man-made disaster for many months to come.
Future:
- After the dust settles on cash exchange and cash loot, the government will come with many more novel ideas to stop the scourge of black money. Some examples are as follows:
- You will have to give your PAN number while buying ration for a month. If someone buys ration for more than two months then 30% cess would be charged on the bill. With 1% extra as patriotism tax.
- You will have to give a xerox copy of your Adhar for buying more than 1 litre of milk.
- You will have to pay 10% banking transaction tax for each withdrawal of more than Rs. 999 from bank.
- All costly cars and bikes will only be sold to ministers and government officers. No private person shall be able to buy them.
- Before buying any car or bike or TV you will have to take a permit from the government. While doing so, you will need to submit an affidavit to show that you are buying from your hard earned money.
Jai Hind
