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Tag Archive: 500


Where is India headed ?

Here are some dashboard points that I expect after the clean up of  the old currency  what we can expect on the Indian economic scenario :

A huge amount of around 15-20 lakhs crore of black money would be identifiedblog

We will see a bump of 8 to 10% in deposit with banks

Out of the money identified 15 to 20 lakh would be withdrawn over a period of two to three months

Substantial amount of money around 2.5 to 3.5 lakh cr would still remain in system

There would be a wealth destruction of around 3-4 lakhs crores

30% of money will not reach back to RBI

Next 2 to 3 months property prices and land prices can drop till 30 to 35%

Since there is a surge of deposit huge demand for Govt bonds would be there Continue reading

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Sharing an important Circular from RBI and GOI, Please do not panic and understand the motive behind this great img-20161109-wa0006initiative:

The Government and keeping in view the need to minimise inconvenience to the public, the following operational guidelines have been issued:-

  1. Old High Denomination Bank Notes may be deposited by individuals/persons into their bank accounts and/or exchanged in bank branches or Issue Offices of RBI till the close of business hours on 30thDecember, 2016.
  2. Old High Denomination Bank Notes of aggregate value of Rs.4,000/- only or below held by a person can be exchanged by him/her at any bank branch or Issue Office of Reserve Bank of India for any denomination of bank notes having legal tender character, provided a Requisition Slip as per format to be specified by RBI is presented with proof of identity and along with the Old High Denomination Bank Notes. Similar facilities will also be made available in Post Offices.  Continue reading
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