RBI printed wrong notes
RBI admits to printing of defective Rs 30,000 cr notes of Rs 1,000 on January 22, 2016, a tweet claimed.
According to the tweet, in order to coverup the mistake of RBI & Modi Sarkaar and to benefit the corporate world too this drastic step. It has not been taken keeping in mind the middle class and lower middle class*
Check the link : https://twitter.com/GauravPandhi/status/796993681383424000?s=08
Money in party accounts
Call it a beautiful co-incidence, but a few hours before the great demonetisation announcement by our greatest Prime Minister, Indian Bank, Central Avenue Branch was super busy. Crores were deposited in Rs 500 and Rs 1,000 notes. It’s a busy branch, but it was even busier on the 8.11.2016. Rs 1 crore was deposited in one account no - 554510034, in two parts — Rs 60 lakh and Rs 40 lakh, all in Rs 1,000 and Rs 500 notes.
The name of the account holder is Bharatiya Janata Party — West Bengal. In another current account with Indian Bank( a/c no - 8365251388), Rs 2 crore were deposited on 1.11.16 (1. 25 Lakh) and 5.11.16 ( 25 Lakh). The account holder is, again, Bharatiya Janata Party — West Bengal. Coincidence.
— The pieces carried in this column here are not verified and just a reflection of what is being forwarded currently on WhatsApp
Banks needed capital infusion badly
Credit rating agency Moody’s had stated that Indian Banks require Rs 1.25 lakh crore capital infusion
Farhan Rahman’s post:
The Masterstroke Policy of Demonetization:
The media is hailing Modi’s demonetisation of old Rs 500 and Rs 1,000 notes as a masterstroke policy on curbing the menace of black money.
Really??
Hmmmm.
Let’s have a look into few figures.
• What if I told you that total bad loans of Indian Banks right now is close to Rs 6,00,000 crore.
• What if I told you that PSU banks are in a miserable condition right now, and need immediate infusion of money to shore up their lending capacities?
• What if I told you that few weeks back credit rating agency Moody’s had stated that Indian Banks require '1.25 lakh crore capital infusion?
• What if I told you that in July 2016 the Centre injected 23,000 crore into 13 public sector banks?
• What if I told you that Jaitley said it in 2015 that the Centre would pump in more than 70,000 crore in PSU banks in coming four years?
• And what if I told you that this demonetisation is nothing but a measure to infuse money in those ailing banks so as to shore up their lending capacities?
Can’t you see people queuing up banks to deposit their hard earned money, waiting hours for their turn?
What other “Masterstroke” would have made this possible?
Just trigger the panic button by stating that your old Rs 500 and '1,000 currency is no longer a valid legal tender, and Voila!!! People are queuing up since morning to deposit their hard earned money.
What for? To curb the menace of black money? By bringing in new Rs 2,000 notes? You don’t curb black money by bringing in notes of higher denomination.
In fact, you are now simplifying hoarding of black money by bringing in new notes of higher denomination.
Ok. So what would banks do with the fresh infusion of money from public pockets?
Lend of course. That’s what their business is.
And to whom would these banks then lend their money to?
You? Me?
So sweet of you..
Move linked to increased LRS limit
Well-planned structured money laundering was carried out by Modi before banning Rs 500 and Rs 1,000 denomination currencies.
Last year (May 26, 2015), the RBI increased the slab for Liber-alised Remittence Scheme, upto $2,50,0000 which means an individual from India can transfer upto two crore rupee to their overseas account in a financial year ..
Before Modi come to the power, the LRS limit was just $75,000. He was elected as the Prime Minister on May 26, 2014. The RBI increased the LRS slab to 1,25,000 in very next month after Modi came to power, i.e June 3, 2014 and also they increased the slab to 250,000 USD second time on May 26 2015. Please refer below link for this LRS slab from RBI:https://m.rbi.org.in/Scripts/NotificationUser.aspx…
Due to the increase in LRS slab, there was a sudden spurt in remittence since June 2015. Approximately $4.6 billion ('30,000 crore) has been transferred from India in last 11 months. This sudden spike in remittance almost 300% higher than historical average remittance. There is no clear explanation from RBI for this sudden surge.
