![]() | #1786 |
BHPian ![]() Join Date: Apr 2009 Location: Singapore
Posts: 666
Thanked: 673 Times
| ![]() While i am extremely disappointed with the fact that people where able to siphon of money with help of crooks in the banking system. Is it right to believe that these bogus transactions can be identified in the days to come? If a bank is given X amount in 2000 notes. They will have to show proof of how and to whom it was delivered. Banks will have to show ATM withdrawal transactions or deposit against the disbursement of 2000 notes. In either case, Bank accounts and ID proof come into play. While it would be a huge task, With bank accounts tracking a account holders history should be easy. Avg. balance, past debit/ credit history etc. Scrutiny of ID's can reveal alot more cases may be a year (or more) into this exercise. Am I missing something? |
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![]() | #1787 |
BHPian ![]() Join Date: Jan 2016 Location: Ahmedabad
Posts: 598
Thanked: 2,062 Times
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![]() | #1788 |
BHPian ![]() Join Date: Apr 2009 Location: Singapore
Posts: 666
Thanked: 673 Times
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I agree, scrutiny of ID's would a huge task. That's where I think, it would take years to unearth all the bogus transactions. However scrutiny of the banking accounts shouldn't be very tough. I say this because, most of the banks in India run on a similar core banking system. I am sure any IT company can come up with a solution to identify the anomalies in accounts. Either ways, with time and effort if IT teams can identify a fraction of the black money hoarders, it would be a achievement worth all this pain. Last edited by mac187 : 21st December 2016 at 16:05. Reason: Grammar |
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![]() | #1789 | |
BHPian Join Date: Jul 2015 Location: Coimbatore
Posts: 695
Thanked: 889 Times
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We are a public who vote for money & freebies. We justify evading tax by pointing at someone who has been successfully evading tax for several years and living a comfortable life. We are the public who complain about poor infrastructure etc compared to the developed nations, where compliance to laws is high. We complain also that corrupt people are not punished, when we ourselves take part in crimes in one way or other. We choose dishonesty by saying honest people cannot live in this country. We are also the people who spread such foolish propaganda, encouraging others to think it is okay to take & pay bribes, evade taxes, adjusting to the lowly life the dishonesty brings in. Let us hope this exercise helped at least some percentage of people to come back to honesty and help the nation move forward. | |
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![]() | #1790 | |
BHPian ![]() Join Date: Feb 2013 Location: Mumbai
Posts: 344
Thanked: 503 Times
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In fact, I did feel guilty in a way that I did not carry enough cash in my pocket. Never realized that I was party to a practice that was helping tax evaders. But now, if I go to the same shops they say , "Sir, pay by cash or card?". Definitely, there is some change on the ground. Now, I can also hold my head high and say , "I will pay by card only". If they refuse, I go to the next shop. | |
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![]() | #1791 | |
BHPian Join Date: Jul 2015 Location: Coimbatore
Posts: 695
Thanked: 889 Times
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![]() Even this day, we can see some wholesale shops mentioning 2% service charge funda, after the GOI has released announcement scrapping all these. However, with increasing insisting from public to use cashless modes of transactions, such frauds will find themselves singled out easily. | |
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![]() | #1792 | |
BHPian ![]() Join Date: Sep 2007 Location: Pune
Posts: 346
Thanked: 266 Times
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It is frustrating when you need to talk to two complete strangers and explain why you are putting your own cash into your own account. And to start with they are looking at you as a criminal and want you to give an explanation that satisfies them. Makes no sense. And that too after you have set the Dec 30th deadline yourself and appealed to people to NOT rush to the bank as you have ample time I am an engineer yaar. Submitting assignments on the last day is now part of the DNA. ![]() | |
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![]() | #1793 | ||
BHPian ![]() Join Date: Feb 2013 Location: Mumbai
Posts: 344
Thanked: 503 Times
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![]() | #1794 |
Distinguished - BHPian ![]() ![]() Join Date: Sep 2010 Location: Liverpool/Delhi
Posts: 5,426
Thanked: 7,318 Times
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![]() | #1795 | |
Team-BHP Support ![]() ![]() Join Date: Jul 2010 Location: Bangalore
Posts: 4,645
Thanked: 17,689 Times
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One man can start a revolution, but can't see it through alone, and it's becoming slowly and painfully apparent that the GoI underestimated its own 'honesty', and that of its auxiliaries in charge of implementing not just the current initiative but wider economic reform. Last edited by Chetan_Rao : 21st December 2016 at 21:38. | |
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![]() | #1796 | |
Distinguished - BHPian ![]() ![]() Join Date: Sep 2010 Location: Liverpool/Delhi
Posts: 5,426
Thanked: 7,318 Times
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![]() | #1797 | |
Team-BHP Support ![]() ![]() Join Date: Jul 2010 Location: Bangalore
Posts: 4,645
Thanked: 17,689 Times
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Waiting for an honest bureaucracy to begin something will mean we never get off the start line, starting with a dishonest bunch like we have now means we'll never see the finish line. We'll end up settling for partial benefits ultimately, sort of a consolation prize for trying. Exactly why I'm not a fan of big-bang disruptive change, it needs too many factors to come together and makes too many assumptions, neither of which practically works on a scale this large. But then, sensation is what brings in the votes and the moolah. People usually disregard believers of slow, incremental, lasting change. Last edited by Chetan_Rao : 21st December 2016 at 22:31. | |
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![]() | #1798 |
Senior - BHPian ![]() Join Date: Feb 2010 Location: Bardez, Goa
Posts: 1,184
Thanked: 1,030 Times
| ![]() Bureaucracy is totally corrupt, 99% of people are honest, 99% of people are corrupt, poor are inconvenienced, banking staff is mostly honest, banking staff is mostly corrupt. WoW If I am a politician I would blatantly say that what is wrong, unethical or unprofessional if I did Demonetisation purely due to 'Political Advantage' as who else should do it apart from a politician? Also this opportunity was available to every PM or party, so if they decided against it due to this very same reason of political advantage, how can I be blamed. With regard to public inconvenience the public will give the verdict in the polls so why critics worry? To hell with them seriously. I never question why the bloggers post a blog, critics criticise, news anchors debate, etc. because I know that it's their job. So let me do my job. Last edited by carwatcher : 21st December 2016 at 22:50. |
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![]() | #1799 | |
BHPian Join Date: Apr 2010 Location: India
Posts: 465
Thanked: 724 Times
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Let's wait for January middle for the dust to settle and find out the outcome of this mammoth exercise. I expect around one lakh crore not to return to banks and another 1 lakh crore because of forced disclosures/advanced tax payments. | |
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![]() | #1800 |
BHPian ![]() | ![]() http://www.livemint.com/Politics/zBG...t-account.html RBI removes the Rs.5000 cash deposit limit for KYC compliant bank accounts. |
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