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Old 24th November 2016, 11:45   #1261
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

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Originally Posted by hillsnrains View Post
To best of my knowledge this does not effect your EMI amount or due dates. You have to pay your EMI as usual, in short there is no relief to be honest.


Now the two months relief provided by the government will get added to the above 90 days before bank declare your loan as NPA.
So basically this is just an unwanted relief? All business as usual, CIBIL score, calls from the collection department, to be paid in the next month?

Last edited by pramodkumar : 24th November 2016 at 11:47.
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Old 24th November 2016, 11:49   #1262
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Default Government scraps Rs 500 and Rs 1000 notes!

Isn't filling the personal info kind of increases the credibility of the survey so that the Smart Alecs present everywhere can thoroughly check the authenticity of the poll results like the wire has already started. What about more than 80% in other independent polls.

Also think that if anyone would be able to vote just like that than how come only 5 lac people were able to vote. Also do care to read about how many bots are posting as followers on Twitter handles of so many media personalities and other celebrities. I doubt at naysayers not being able to vote as I myself voted no or very less in few answers so I would take that news with a sackful of salt.

And if someone seriously thought that the NaMo app is by Govt I really have no words to say about that as if at all Govt would take such step they would name it as PMofIndia rather than the individual name which is bound to change.

BTW what's your opinion on shameful act of Pankaj Pachauri, media advisor of the previous PM who was ex employee of the most liberal channel, who deleted the Twitter handle of the PMOIndia thinking it was his or PMs personal property.

Our PM has repeatedly said that he not only likes being continuously scrutinised by a magnifying glass bur rather admires and loves it. At the same time he also emphasises that had it been equally done with all the past PMs our country would have been far better and he wouldn't have to teach our countrymen to do basic acts as Clean India (Swacch Bharat) or provide toilets not only in villages but in girls school too where it wasn't provided (really pathetic), remind you they all belong to that poor class for whom many people are concerned since demonetisation. If we were happy about the state of our country with all this, then I must say that then the acts of PM are really deplorable.

He has also mentioned one point that if you (public) keep cursing the PM for say that there is bank employee not working properly, no garbage is disposed by the sweeper, bus driver not stopping at marked place, then please don't forget that in the process you have acquitted their bosses, and all in between till the PM for not doing their work which is not fair. Accountability has to be fixed. Come to think of it we just had a PM before this who never spoke, controlled by someone who had absolutely No accountability towards anything but had full power. I doubt someone have guts even today to ask anything from them.

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Originally Posted by Puneet.S View Post
I did not use the app. What concerns me is, that in order to vote - one needs to input some personal information (e.g. date of birth, address, mobile number, etc.) as mandatory. Serious privacy issue in my opinion. Also, a breach of trust because it is being projected by Narendra Modi in his capacity as Prime Minister!
I will be posting a link in my next post an interview of our previous Army Chief Bikram Singh taken few months back, go through that to get a fair idea about the role of many agencies and how they shape the public sentiments.

Last edited by carwatcher : 24th November 2016 at 12:11.
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Old 24th November 2016, 11:50   #1263
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

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So basically this is just an unwanted relief? All business as usual, CIBIL score, calls from the collection department, to be paid in the next month?
My understanding is that loan EMIs even if delayed for this month and next would not adversely impact your credit score and there won't be aggressive followups from banks for paying up.

What were you expecting?
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Old 24th November 2016, 11:58   #1264
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

This is OT:

For people who have concerns about privacy of the NaMo App - I haven't used it, but I have worked with companies who are in the business of creating apps - they laugh at the very notion of people worrying about privacy. They always keep telling me its a myth.

If you truly care about privacy, throw away all your internet and a whole lot more. The developers keep telling me that apps, big internet sites, know pretty much all about you. And if they truly want to know, it would not take a whole lot of time to find out literally everything about you. So, stop worrying.
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Old 24th November 2016, 12:24   #1265
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

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Originally Posted by SDP View Post
My understanding is that loan EMIs even if delayed for this month and next would not adversely impact your credit score and there won't be aggressive followups from banks for paying up.

What were you expecting?
Same, I have some EMIs and had some recent medical bills in the tune of 3.7 lacs, my finances are little messed up, so I was expecting to get a 2 month breather and extension with no questions asked.
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Old 24th November 2016, 12:31   #1266
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Isn't this paragraph of yours is self-contradictory.
One size fits all limits are not helping while the various notifications to correct that one size fits all is also questioned.

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I am appalled at the various notifications on currency limits being issued by the RBI. The numbers doing rounds are 2000, 4500, 24,000, 50,000 and latest being wedding withdrawal of 2,50,000. Our is a complex country. People here live on Rs 50 per day to Rs 50,000 per day. There are big cities, small towns. villages. People travel, migrate. Most don't have bank accounts. This one size fits all limits published by RBI isn't helping. Sorry to see premier institute like RBI grappling with the situation presented itself.
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Old 24th November 2016, 13:15   #1267
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Quote:
Originally Posted by Puneet.S View Post
I did not use the app. What concerns me is, that in order to vote - one needs to input some personal information (e.g. date of birth, address, mobile number, etc.) as mandatory. Serious privacy issue in my opinion. Also, a breach of trust because it is being projected by Narendra Modi in his capacity as Prime Minister!
Don't you give all this information when opening a FB account, any online portal which require registration, bank accounts etc. In fact, you need to give this for your PAN card, Driver's license, Voter ID card, passport and multiple other cards.
In this day and age, protecting privacy means two things ... 1. stay out of the community by not appearing in any social media. 2. assume a proxy identity

For the APP, you can always lie about your DOB, address

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Originally Posted by pramodkumar View Post
Guys,

I had asked a question and nobody seems to have answered so far, I wanted to know in simple English, what exactly does the banks mean when they gave a 2 months relief to home/personal/car loans below 1 crore. I spoke to some bank guys and they offer no clarity, they went to the extent in asking me not to pay the EMIs next month and see what happens.
So, if you are one of those who defaulted on the payment of EMI in the last three months for various reasons, you get another 60 days before the bank officials will start converting your loan as NPA (non-performing asset).

It does not mean that you do not have to pay your EMI for the next 60 days.

Last edited by SDP : 24th November 2016 at 14:25. Reason: merging back to back posts
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Old 24th November 2016, 13:32   #1268
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

It seems now that the opposition is going to add to the misery of the common citizen by calling for a day of national protest - which will just add to the chaos on the streets, if successful.

Because their past has left them with little to zero legitimacy/moral right to talk about the better options like tax reform, or bringing back black wealth from overseas before this draconian step is taken, I read that top of their list of reasons why this is not good is because it is a scam; that the ruling party leaked this action in advance to close allies. But since no one has any proof of this, this claim is just hot air and noise. Few will be able to take it seriously, I sense, and minus solid proof, rightly so.

At this time, the opposition will better serve the country by restricting their actions to Parliament, and not adding to the chaos on the streets; it would be very irresponsible if they were to do that. IMO. If they can't actively help to reduce the chaos, at least don't add to it by street protests. Will sense prevail? - only time will tell.

Last edited by Sawyer : 24th November 2016 at 13:33.
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Old 24th November 2016, 13:35   #1269
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

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Originally Posted by sukhoi30 View Post
Don't you give all this information when opening a FB account, any online portal which require registration, bank accounts etc. In fact, you need to give this for your PAN card, Driver's license, Voter ID card, passport and multiple other cards.
In this day and age, protecting privacy means two things ... 1. stay out of the community by not appearing in any social media. 2. assume a proxy identity

For the APP, you can always lie about your DOB, address

Equating your FB profile, bank account info with this app?
That is so unfortunate. Who will police the police?
Secondly, why provide any information to a "feedback app" which asks you to rate on a scale of 1-10 from 9 onwards only?

Last edited by mayankk : 24th November 2016 at 13:36.
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Old 24th November 2016, 13:49   #1270
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

Kindly go through the interview of our former Army Chief Gen Bikram Singh which kind of also touches the reason for increase in nationalism among the people whom many claim as fake or scripted.



This also explains what the Govt is doing to tackle bigger menaces and how Army is also involved.
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Old 24th November 2016, 13:56   #1271
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

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Originally Posted by carwatcher View Post
Isn't this paragraph of yours is self-contradictory.
One size fits all limits are not helping while the various notifications to correct that one size fits all is also questioned.
Yes, there is no one size fits and RBI trying just that by tweaking notifications.
Even if RBI issues another 100 notifications, it won't help. But it will add to the confusion and more red-tape.

Month end is nearing. 1st week of December will be the real test of RBI & banks with respect to ATM preparedness.
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Old 24th November 2016, 14:05   #1272
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

Cash withdrawal limit is 2500 won't be able to help much for drawing salary IMHO. ATMs are being readied in a structured manner with the ones having highest footfalls are converted first. Till yesterday 82000s out of 2 Lac are converted. Of the 2 Lac few are said so be already non-functional or pulled out of service due to non-feasibility.

Even many BHPians have suggested that rather than ATMs now going to branch makes more sense with the 24000 Limit.

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Month end is nearing. 1st week of December will be the real test of RBI & banks with respect to ATM preparedness.
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Old 24th November 2016, 14:14   #1273
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

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Originally Posted by sukhoi30 View Post
So, if you are one of those who defaulted on the payment of EMI in the last three months for various reasons, you get another 60 days before the bank officials will start converting your loan as NPA (non-performing asset).

It does not mean that you do not have to pay your EMI for the next 60 days.
I have not defaulted yet, if it was a 2 month breather then would have been great, again the wrong set of people are getting benefited

Why are such relief given to the wrong set of people, when will the honest tax paying, EMI paying citizen get a break?
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Old 24th November 2016, 14:29   #1274
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

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Secondly, why provide any information to a "feedback app" which asks you to rate on a scale of 1-10 from 9 onwards only?
Just installed the app for Android. I don't see any question which has the option to rate from 9 onwards. Its from only 1-5. What gives?
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Old 24th November 2016, 14:57   #1275
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Default Re: Government scraps Rs 500 and Rs 1000 notes!

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Just installed the app for Android. I don't see any question which has the option to rate from 9 onwards. Its from only 1-5. What gives?
That was figurative. As in asking someone to rate you on scale of 1-10, but the available choices are only 9 and 10.
The PM's app has some instances of no option of disagreeing. You must agree.
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