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Demonetisation: Will it lead to a corruption free India?

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Many many years ago, when I was in school, I heard the following story:
Once Badshah Akbar' s army was engaged in a prolonged war. As a result his royal wealth ("shahi khazana") was nearly exhausted.
He asked Birbal, "How to replenish my wealth."
Birbal: You can get it from Dhanna Seth.(merchant).
Akbar was amazed as to how a trader/ merchant could have so much money. Still he went to Dhanna Seth.
Dhanna Seth offered: Badshah Akbar, I have huge wealth, take as much as you want."
Akbar: Dhanna Seth, How did you accumulate so much wealth. Tell me without any fear of punishment.
Dhanna: I earned it by adultrating grains & spices.
Akbar got angry, he took all of Dhanna's wealth and ordered him that from then on he would collect the horse dung in his royal stable. Dhanna agreed.
Years passed by. Again Akbar had to fight a long drawn battle. Again his royal wealth exhausted & again Birbal advised Akbar to go to Dhanna Seth for help.
Akbar wondered : Birbal, I had ordered him to work in royal stable to collect horse dung, How on earth he can have such a wealth."
Birbal: Badshah, you can ask him but only he can help you.
Akbar went to Dhanna. Dhanna gave Akbar huge wealth.
Akbar: Dhanna Seth, I had earlier taken all your wealth, How did you accumulate it again?
Dhanna: From the stable - incharge & horse attendants. They used to underfeed the horses. I threatened them that I will complain to Badshah that they did not feed horses enough, hence the horse dung quantity was less. So they bribed me to keep silent.
Akbar got very angry again & ordered Dhanna to start counting the waves at sea & returned to his Palace with Dhanna's wealth.
As luck would have it, Akbar fought another war, royal wealth emptied out and once again Birbal advised Akbar to go to Dhanna Seth for help.
Akbar could not believe as to how Dhanna could earn so much by counting waves at sea.
Akbar asked Dhanna for the help.
Dhanna: Badshah, Take as much as you want but this time around I will not change my profession.
Akbar: Ok, but tell me how did you earn money by counting Water waves at sea.
Dhanna: Very simple, I used to stop merchant's ships & boats far away from sea shore. I showed them your orders that I was counting waves & their ships & boats would disturb or break the waves hence their ships or boats should stay away. Badshah, these merchants then used to bribe me to let them reach the shore & unload their merchandise.
So Badshah understood that Dhanna Seth can earn by engaging in manipulations & bribery from any profession.
Demonetisation or no demonetisation, the Dhanna Seths of our society will always find a way to earn & accumulate black money.

Source: Whatsapp
 
I do agree with you Mohan, it is a mentality. Infact we Indians are so addicted to incentives and freebies that even to wish some one a happy birth day we expect a Return gift. We tend to do unwanted shopping on schemes like buy one get one or buy two get one free etc. The funny part is that all of us know nothing is being given free but the cost of the item is included in the base price. Many stores announce schemes even upto 90% discount sale and people become pray of such scoops. Unfortunately it has become a custom in our country that unless and until you get something free in return, you don't even venture out to vote. It is very difficult for any one to change it overnight. The holes are to be plugged one by one by way of drying up the oppertunities. Let's hope it really happens. Again, as some one said it, corruption is also "free" (of no cost) and enjoy it!!
 
Long after the final accounting of this exercise is taken, what will gall observers will probably be the total unconcern the government showed about the way the decision affected the lives of hundreds of millions of ordinary people. Decision after decision was taken with the intention of maximising the gain to the government, but without a thought as to how these affected the lives of the most disadvantaged such as the unbanked. The most striking example of this was the discontinuation of currency exchange for those without accounts, which was done in violation of specific promises by the RBI and even advertisements by the government. Even now, the unbanked find it difficult to open accounts and salvage whatever savings they have accumulated over a lifetime because the powers-that-be have not found it necessary to take their concerns on board. This may yet turn out to have been a politically astute move, but that won’t change its character as a morally flawed decision that sought to punish the many for the sins of the few – and for the sake of a political narrative that no longer holds water.
http://indianexpress.com/article/bl...n-note-recall-narrative-fallen-apart-4406642/
 
vgane said:
Many many years ago, when I was in school, I heard the following story:
Once Badshah Akbar' s army was engaged in a prolonged war. As a result his royal wealth ("shahi khazana") was nearly exhausted.
He asked Birbal, "How to replenish my wealth."
Birbal: You can get it from Dhanna Seth.(merchant).
Akbar was amazed as to how a trader/ merchant could have so much money. Still he went to Dhanna Seth.
Dhanna Seth offered: Badshah Akbar, I have huge wealth, take as much as you want."
Akbar: Dhanna Seth, How did you accumulate so much wealth. Tell me without any fear of punishment.
Dhanna: I earned it by adultrating grains & spices.
Akbar got angry, he took all of Dhanna's wealth and ordered him that from then on he would collect the horse dung in his royal stable. Dhanna agreed.
Years passed by. Again Akbar had to fight a long drawn battle. Again his royal wealth exhausted & again Birbal advised Akbar to go to Dhanna Seth for help.
Akbar wondered : Birbal, I had ordered him to work in royal stable to collect horse dung, How on earth he can have such a wealth."
Birbal: Badshah, you can ask him but only he can help you.
Akbar went to Dhanna. Dhanna gave Akbar huge wealth.
Akbar: Dhanna Seth, I had earlier taken all your wealth, How did you accumulate it again?
Dhanna: From the stable - incharge & horse attendants. They used to underfeed the horses. I threatened them that I will complain to Badshah that they did not feed horses enough, hence the horse dung quantity was less. So they bribed me to keep silent.
Akbar got very angry again & ordered Dhanna to start counting the waves at sea & returned to his Palace with Dhanna's wealth.
As luck would have it, Akbar fought another war, royal wealth emptied out and once again Birbal advised Akbar to go to Dhanna Seth for help.
Akbar could not believe as to how Dhanna could earn so much by counting waves at sea.
Akbar asked Dhanna for the help.
Dhanna: Badshah, Take as much as you want but this time around I will not change my profession.
Akbar: Ok, but tell me how did you earn money by counting Water waves at sea.
Dhanna: Very simple, I used to stop merchant's ships & boats far away from sea shore. I showed them your orders that I was counting waves & their ships & boats would disturb or break the waves hence their ships or boats should stay away. Badshah, these merchants then used to bribe me to let them reach the shore & unload their merchandise.
So Badshah understood that Dhanna Seth can earn by engaging in manipulations & bribery from any profession.
Demonetisation or no demonetisation, the Dhanna Seths of our society will always find a way to earn & accumulate black money.

Source: Whatsapp
Click to expand...

Yes I have heard that story before. It is not far from truth.

What one must also point out is that as long as political parties – especially the ruling party that is pushing the cashless economy narrative – do not stop accepting any money in cash, their paeans for the cashless economy will ring hollow and insincere. If the country as a whole is ready for a cashless economy, what earthly reason can there be for a political party, especially the ruling one, not to discontinue taking donations in cash with immediate effect, and also set up an independent mechanism to strictly monitor all political funding?
 
Mahesh Shah is a front for politicians and businessmen..IT Department has to investigate the sources of his funds!!

[h=1]Rs 14,000 crore default case: Gujarat businessman detained, says money belongs to politicians, babus[/h]
December 3, 2016


Ahmedabad: Mahesh Shah, the missing businessman from Gujarat, who had disclosed unaccounted earnings of Rs 13,860 under Income Declaration Scheme (IDS) and since gone missing for 10 days was detained by I-T officials from the sets of a TV news channel on Saturday. Shah claims that the money that he declared under IDS belongs to politicians and bureaucrats and more information will be disclosed soon.
The real estate dealer also said that he regrets what he has done and will fully cooperate with the I-T department. He was missing since November 29.
"I will disclose the names of the people in front of specific I-T officers," Shah said.
"I was not running away and it was due to some reasons I stayed away from media," he added.
Income Tax department officials have arrested him from ETV studio in Gujarat.
Earlier he told the TV channel that "Rs 13,860 crore I declared under Income Disclosure Scheme is not mine".
The businessman said he had done the disclosure "out of compulsion" and was promised "commission" for declaring the wealth as his.
"Those whose money was disclosed under IDS backed out at the last moment so I could not pay the first instalment," Shah said.
He said he had realised the mistake and would reveal "everything soon" after providing all information to the IT department..
"Those whose money was disclosed are businessmen and politicians."
Gujarati businessman had disclosed unaccounted earnings of Rs 13,860 crore under the Centre's Income Declaration Scheme.
A resident of Ahmedabad with businesses in Mumbai and other parts of India, though Shah declared the income on under the IDS 2016, he failed to pay the first installment of tax – a sum of Rs 975 crore – by November 30, thus leading to his declaration of Rs 13,000 crore being termed as “black money”.
Notably, the IDS offered immunity to those who declared their unaccounted income once they paid the tax. But that is where Shah slipped.
The Income Tax department is said to be investigating Shah and conducting searches at several places related to Apaji Amin & Company.

http://zeenews.india.com/economy/rs...ney-belongs-to-politicians-babus_1955591.html
 
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That's a huge deposit! The accounts of poor have been used as scapegoats to deposit the black money and convert black to white! But PM has promised that these thieves will soon be caught!

Almost 3/4th of Rs500, Rs1000 notes deposited in banking system

Of the estimated Rs16 trillion in Rs500 and Rs1000 notes in circulation, more than Rs11.5 trillion has been deposited in the banking system so far
Remya Nair

notes-kqZC--621x414@LiveMint.JPG

The government had expected that only Rs11-12 trillion will come back into the banking system by the end of the 30-December deadline. Photo: Pradeep Gaur/Mint

New Delhi: With still roughly a month to go, almost three-fourth of the Rs500 and Rs1000 notes under circulation have been deposited into the banking system. This has led to concerns that a large part of the black money has been laundered and legalized in collusion with errant bank officials.
Of the estimated Rs16 trillion in Rs500 and Rs1000 notes in circulation, more than Rs11.5 trillion has been deposited in the banking system so far, said people familiar with the development.
Last month, Prime Minister Narendra Modi had announced old Rs500 and Rs1000 notes will cease to be legal tender with effect from 9 November.
People were given time till 30 December to deposit their currency notes into bank accounts. The government had expected that only Rs11-12 trillion will come back into the banking system by the end of the deadline.
But with deposits rising at a steady pace, there are fears that a large part of the black money is being legalized using the poor.
The income tax department in a statement on Friday said that they had found irregularities in the Jan Dhan accounts.
“Undisclosed moneys of approximately Rs1.64 crore deposited by persons who have never filed returns of income being below the taxable limits into their Jan Dhan accounts have already been detected at Kolkata, Midnapore, Ara (Bihar), Kochi and Varanasi. Rs40 Lakh has been seized from one such account in Bihar,” the tax department said.
Allaying fears that tax evaders will go scot free, finance minister Arun Jaitley on Saturday said, “By just depositing the money, it doesn’t mean that you can get away and do not have to pay tax that is due,” he said.
The government is also focussing on bankers who are helping in this money laundering.
The finance ministry in a statement on Friday said that action has been taken against 33 errant officials of state-owned banks.

“Some cases have come to notice, however, of officials involved in carrying out transactions which were irregular and violative of RBI’s (Reserve Bank of India) instructions. Action has been taken in such cases and 27 officials of various public sector banks have been placed under suspension and 6 officials have been transferred to non-sensitive posts,” the statement said.
 
Agree with Dr Swamy!!

[h=1]Swamy: Finance ministry was not prepared for demonetisation[/h]TNN | Updated: Dec 3, 2016, 11.00 PM IST



Patna: BJP MP Subramanian Swamy on Saturday assailed West Bengal CM Mamata Banerjee for opposing demonetisation and questioning an Army exrcise in her state. "She needs medical attention," he said.

In Patna to attend a seminar organised by the Virat Hindustan Sangam on the 'Possibility of construction of Ram Mandir under the Constitution' on Saturday, Swamy also berated Congress vice-president Rahul Gandhi for his opposition to notebandi. "Rahul's IQ is as good as that of a class IV student," he said.

The BJP parliamentarian hailed demonetisation, but regretted the Union finance ministry had not done its homework properly before implementing it even though it had enough time to maintain secrecy. "Changing the size of new notes was a mistake as ATMs had not been recalibrated. Also, Rs 100 notes should have been printed in large quantities," he said, adding common man should have been given I-T exemption for six months.

http://timesofindia.indiatimes.com/...onetisation/articleshow/55778528.cms?from=mdr
 
vgane said:
Agree with Dr Swamy!!

Swamy: Finance ministry was not prepared for demonetisation

TNN | Updated: Dec 3, 2016, 11.00 PM IST



Patna: BJP MP Subramanian Swamy on Saturday assailed West Bengal CM Mamata Banerjee for opposing demonetisation and questioning an Army exrcise in her state. "She needs medical attention," he said.

In Patna to attend a seminar organised by the Virat Hindustan Sangam on the 'Possibility of construction of Ram Mandir under the Constitution' on Saturday, Swamy also berated Congress vice-president Rahul Gandhi for his opposition to notebandi. "Rahul's IQ is as good as that of a class IV student," he said.

The BJP parliamentarian hailed demonetisation, but regretted the Union finance ministry had not done its homework properly before implementing it even though it had enough time to maintain secrecy. "Changing the size of new notes was a mistake as ATMs had not been recalibrated. Also, Rs 100 notes should have been printed in large quantities," he said, adding common man should have been given I-T exemption for six months.

http://timesofindia.indiatimes.com/...onetisation/articleshow/55778528.cms?from=mdr
Click to expand...
hi

till now...no word from swamy abt demontisation.....
 
In 2 weeks amount deposited in Jan Dhan swelled by Rs 27000 crores! Hope the money hoarded is confiscated! Now PM promises that the poor would be compensated for the hardship!!


This queue is the last queue to end all queues: PM Modi’s top quotes at Parivartan rally

"For 70 years people queued up for essential items. This queue (outside banks) is the last queue to end all the queues," said PM Modi in Moradabad.

New Delhi | Updated: December 3, 2016
modi-759.jpg


PM Narendra Modi (Source: ANI photo)

Prime Minister Narendra Modi on Saturday addressed the Parivartan rally in UP’s Moradabad in a bid to win support of the people before the upcoming Assembly elections. In the rally, he told the people that he has been fighting the war on corruption for the citizens of the country. PM Modi hailed the common people as his “high command”.

Here are his top quotes:
* Corruption will not get eradicated on its own. We have to fight against it. If someone is fighting against corruption is he doing something wrong? I am surprised that in my own country a few people are accusing me.
* I am fighting this war for you, what will those accusing me do? I am a fakir; will exit with my little belongings.
* Today those who have stashed black money are queuing outside the house of poor people, asking for their help. Dishonest people can’t go to banks now and so they are queuing up outside homes of poor and trying to mislead them.
* Want to tell poor people in whose account money has been deposited, don’t touch that money, if they insist on asking for money, ask for proof. I am finding ways to put behind bars those guilty of stashing their black money into the jandhan accounts of the poor
* I assure you people that I won’t let your hard work, your sacrifice, your struggle go in vain.
* For 70 years people queued up for essential items. This queue (outside banks) is the last queue to end all the queues
* I salute the farmers that despite the hardships that have come their way (after demonetisation) there has been no shortage in sowing. In fact the sowing has increased since last year.
* If one has to eradicate poverty from the country, it is essential to develop big states like UP, Bihar, Maharashtra. I have not fought from Uttar Pradesh only to become an MP but wanted to initiate a fight against poverty from this state.
* You, the people are my high command and no one else.
* In the 21st century, my country is ready to become Digital India. Now your bank is in your mobile. There are 40 crore smartphones in this country, at least 40 crore people will get rid of cash transactions. Corruption will come to an end.

http://indianexpress.com/article/in...-is-the-last-queue-to-end-all-queues-4408467/
 
vgane said:
Many many years ago, when I was in school, I heard the following story:
Once Badshah Akbar' s army was engaged in a prolonged war. As a result his royal wealth ("shahi khazana") was nearly exhausted.
He asked Birbal, "How to replenish my wealth."
Birbal: You can get it from Dhanna Seth.(merchant).
Akbar was amazed as to how a trader/ merchant could have so much money. Still he went to Dhanna Seth.
Dhanna Seth offered: Badshah Akbar, I have huge wealth, take as much as you want."
Akbar: Dhanna Seth, How did you accumulate so much wealth. Tell me without any fear of punishment.
Dhanna: I earned it by adultrating grains & spices.
Akbar got angry, he took all of Dhanna's wealth and ordered him that from then on he would collect the horse dung in his royal stable. Dhanna agreed.
Years passed by. Again Akbar had to fight a long drawn battle. Again his royal wealth exhausted & again Birbal advised Akbar to go to Dhanna Seth for help.
Akbar wondered : Birbal, I had ordered him to work in royal stable to collect horse dung, How on earth he can have such a wealth."
Birbal: Badshah, you can ask him but only he can help you.
Akbar went to Dhanna. Dhanna gave Akbar huge wealth.
Akbar: Dhanna Seth, I had earlier taken all your wealth, How did you accumulate it again?
Dhanna: From the stable - incharge & horse attendants. They used to underfeed the horses. I threatened them that I will complain to Badshah that they did not feed horses enough, hence the horse dung quantity was less. So they bribed me to keep silent.
Akbar got very angry again & ordered Dhanna to start counting the waves at sea & returned to his Palace with Dhanna's wealth.
As luck would have it, Akbar fought another war, royal wealth emptied out and once again Birbal advised Akbar to go to Dhanna Seth for help.
Akbar could not believe as to how Dhanna could earn so much by counting waves at sea.
Akbar asked Dhanna for the help.
Dhanna: Badshah, Take as much as you want but this time around I will not change my profession.
Akbar: Ok, but tell me how did you earn money by counting Water waves at sea.
Dhanna: Very simple, I used to stop merchant's ships & boats far away from sea shore. I showed them your orders that I was counting waves & their ships & boats would disturb or break the waves hence their ships or boats should stay away. Badshah, these merchants then used to bribe me to let them reach the shore & unload their merchandise.
So Badshah understood that Dhanna Seth can earn by engaging in manipulations & bribery from any profession.
Demonetisation or no demonetisation, the Dhanna Seths of our society will always find a way to earn & accumulate black money.

Source: Whatsapp
Click to expand...

Did you spot the Hindu bashing that has been prevailing since the time of Akbar?

The corrupt and incorrigible has to be a Hindu Dhanna Seth and cannot be a Suleiman Seth or Mastan Seth, is it? Does this disclose how much subconsciously Hindus have been made to think poorly of themselves and Hindus themselves keep these myths alive by re-cycling these fancy tales ?

Would it not be a good beginning for Hindus to look at history books of Akbar period to know the relative financial position of Hindus vis-a-viz Muslims?
 
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zebra16 said:
Did you spot the Hindu bashing that has been prevailing since the time of Akbar?

The corrupt and incorrigible has to be a Hindu Dhanna Seth and cannot be a Suleiman Seth or Mastan Seth, is it? Does this disclose how much subconsciously Hindus have been made to think poorly of themselves and Hindus themselves keep these myths alive by re-cycling these fancy tales ?

Would it not be a good beginning for Hindus to look at history books of Akbar period to know the relative financial position of Hindus vis-a-viz Muslims?
Click to expand...

Point taken...This may give a new handle for Hndu bashers!!
 
zebra16 said:
Did you spot the Hindu bashing that has been prevailing since the time of Akbar?

The corrupt and incorrigible has to be a Hindu Dhanna Seth and cannot be a Suleiman Seth or Mastan Seth, is it? Does this disclose how much subconsciously Hindus have been made to think poorly of themselves and Hindus themselves keep these myths alive by re-cycling these fancy tales ?

Would it not be a good beginning for Hindus to look at history books of Akbar period to know the relative financial position of Hindus vis-a-viz Muslims?
Click to expand...
I have read another version of the story in which it was one of the courtiers/guards and not dhanna seth...
 
A good one!!

--------------------------------------------------------------------------
நமஸ்காரம் மாமா.. சொல்றதுக்கு கொஞ்சம் சங்கடமா இருக்கு. தட்சணைக்கு கேஷ் இல்லையே. என்ன பண்றது?


அதனால் என்ன . மொபைல் பேங்கிங் வச்சுருக்கேளா?


சுந்தர்ராம சாஸ்திரிகள், உங்களுக்கு இன்டர்நெட்ல டிரான்ஸ்பர் பண்ண சொல்லிடட்டுமா?


ஸ்வாமின்னு ,,உங்களுக்கு ஓ கே வா ?


எனக்கு பே டி எம்ல பண்ணிறேளா?


சாஸ்திரத்துக்கு ஒரு ரூபாய் காயின் வையுங்கோ.
வெத்தலை மேலே ஒரு சொட்டு ஜலம் விடுங்கோ . மொபைல் போன் மேலே பேருக்கு இன்னொரு சொட்டு ஜலம். வாட்டர் ப்ரூஃப் தானே?


இரண்ய கர்ப, கர்பஸ்தம் ஹேம பீஜம் உபாவசொஹொ அனந்தகோடி புண்ய பலதே .யதசாந்த்யம் பிரயச்சமே ... சொல்லுங்கோ . ப்ரத்யாப்திக ஸ்ரார்த்தே... சுப்ரமண்ய.. சர்மனே.... குரு தக்ஷணா.. எலெக்ட்ரானிக் தாம்பூலம் கரிஷ்யே..!!!!!

Source:Whatsapp
 
Another one!!

காசே தான் கடவுளாடா?
------------------------------------------
எவ்வளவு வேணும் முனிம்மா?


ரெண்டாயிரம் ரூபா கொடேன்.. அப்பால சம்பளத்துல நாலு மாசமா களுச்சுக்கயேன்.


புது நோட்டா தான் இருக்கு. மாத்திப்பியா?


அய்யே.. துட்டா கொடுக்காதே.. கையில இருந்துச்சுன்னு வச்சுக்க, சரக்கடிக்க வேணும்னு இவன் அடிச்சே புடுங்கிடுவான்..


ஆயிரத்தை என் அக்கவுண்ட்ல இன்டர்நெட்ல போட்ரு. மீதியை பே டி எம்ல டாப் அப் பண்ணிரும்மா.


முனிம்மா, உனக்கு பே டி எம் லாம் உபயோகப்படுத்த தெரியுமா ?


இன்னம்மா இப்டி கேக்குற?. எங்க வூட்டாண்ட அல்லா ஜனமும் இத்த தான் யூஸ் பண்ணுது.. சுளுவா கீது மா. எல்லா கடையாண்ட வாங்குறானே..நீ இப்ப இருபது ரூபாய்க்கு மஞ்சத்தூள் வாங்கறேன்னு வச்சுக்க, இருபதுன்னு போன்ல அட்ச்சு இந்த ஓகே பட்டன தட்டினேன்னு வச்சுக்கோ, கருப்பு வெள்ளைல ஒரு கோடு வருதா, கடைக்காரன் இது மேல அவன் போனை இட்டாருவான். ஒரே செகண்ட் தான். பணம் எடுத்துக்கும்.

ஏம்மா நீ செய்ய மாட்டியா?


செய்வேன். தேவைப்படாது. இவரே எல்லாம் செஞ்சுருவாரு.

பணம் வாங்கிட்டு அப்படியே மட்டம் அடிச்சிராதே.. போன மாசம் மட்டும் ஏழு, எட்டு நாள் வரல.


இல்லியே. மூணு நாள் தாம்மா வரல.. பாரேன்.. என்ன வேணா நம்ப மாட்ட. ஆப்பு பொய் சொல்லுமா.


இது என்னது ?


'ஆயா' ன்னு ஒரு ஆப்பு மா. நீ யார் வீட்டுல வேல செய்யற, எவ்ளோ நேரம் செய்ர. ஜி பி எஸ்ஸ ஆன் செஞ்சன்னு வச்சுக்க எங்க இருக்க ,எல்லாம் சொல்லும். இங்க பாரு , உன் வீட்டுல நேத்திக்கு இருபது பாத்திரம் களுவிகொடுத்தேனா, முந்தா நாளு முப்பது பாத்திரம் விளுந்திருக்கு பாரு. முப்பது லிட்டர் தண்ணி செலவு ஆயிருக்கு . இத்த மாதிரி எல்லாத்தயும் காட்டும்மா. வீட்டு வேல செய்யுற எங்க ஜனம் அல்லாரும் இதுலயே பேசிக்கவும் வசதி இருக்காம். என்னுது ஆண்ட்ராய்டு போன். இன்னும் ஆண்ட்ராய்டுக்கு வரலயாம். அடுத்த மாசம் வருதுன்னு சொன்னாங்க.


முனிம்மா , நீ என்ன படிச்சுருக்க?


அய்யே.. நாலு கூட தாண்டல. எனக்கு கூட ஸ்கோல் நொம்ப புடிக்கும். எங்கே... இவன் என் மாமன் மகன் தானே.. எங்க அப்பன் அப்பவே கட்டி குடுத்துட்டான்.

Source: Whatsapp
 
Did someone say that it will be corruption free India?
The Enforcement Directorate (ED) has arrested two officials of a private bank in New Delhi in connection with its money laundering probe for alleged irregularities in the conversion of old currency and supply of new notes leading to blackmoney generation. Officials identified the two managers as Shobit Sinha and Vineet Sinha, working as managers in the Kashmere Gate branch of Axis bank here, and said they were arrested late yesterday under the provisions of the Prevention of Money Laundering Act (PMLA).
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“If demonetisation would really eradicate corruption and black money, I will also chant ‘Modi, Modi’. We had put our lives at risk during anti-corruption movement with Anna ji. We had welcomed the Prime Minister’s move for Swachh Bharat Abhiyan and Yoga Day, surgical strikes, but Modi has done wrong by introducing demonetisation and we will oppose it,” Kejriwal said when some section of traders chanted “Modi Modi”.
They (BJP) will ruin the country’s economy and there is no earliest solution being seen to the chaos created due to demonetisation, he also said.
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http://indianexpress.com/article/in...te-arrests-two-private-bank-officers-4411186/
 
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No It did not even make a dent in the corruption. It actually increased corruption and black money (in new notes).


[h=1]Networks Laundering Black Money to White Mushrooming Pan India[/h]New and creative money laundering networks are spreading across India to help people convert black money or the demonetised 500 and 1,000 rupee notes into legal tender.
Bloomberg News reported that some of these new channels include connecting people to high-turnover businesses that can show old cash as revenue and return the rest; flying demonetised tender to the North Eastern states where people are exempt from paying Income Tax; and the sale of apartments using banned money in an upscale Mumbai suburb popular with Bollywood movie stars, which at least one property brokerage is resorting to.

In all these cases commissions range from 10 percent to 50 percent, depending on the difficulty, the agency quoted people involved in the transactions. New avenues for money-laundering, tax-avoidance, and existing organized crime, the evolution of hawala networks are opening up in the short term.
Bloomberg News cited an individual named Ashok from Mumbai who plans to give a Rajasthan-based garment manufacturing and jewellery company Rs 20 Crore in demonetized notes from one of his property transactions, getting back half that amount in brand-new notes.
Other laundering networks are routing black money through the accounts of farmers, because Agricultural income is exempt from Income Tax.
Individuals are transporting money in trains and vehicles, while the big laundering networks have been using chartering flights to transport cash to India’s northeast, a lawyer told Bloomberg. Certain tribal communities in India’s northeastern states are exempted from paying taxes on income from any sources.

http://www.news18.com/news/india/ne...y-to-white-mushrooming-pan-india-1319454.html
 
Agents offering to launder money are using creative means, including flying banned cash by the planeload to northeastern states exempt from restrictions as well as connecting people to high-turnover businesses that can deem old cash as revenue, keep a portion of it, and return the rest, according to people involved in the networks. Premiums range from 10 percent to 50 percent, depending on the difficulty, they say. At least one property brokerage is offering to arrange the sale of apartments using banned money in an upscale suburb of Mumbai that's popular with Bollywood movie stars.

While the government has been working to close loopholes -- which Prime Minister Narendra Modi decried as people's "illegal means to save their ill-gotten wealth" in a radio address last week -- new ones are opening even faster. So far, the policy aimed at reducing the scale of the black economy and bringing more people into the tax net is, in the short term, leading to just the reverse: money-laundering, tax-avoidance, and new opportunities for existing organized crime, the evolution of the long-standing hawala money-transfer system, and the start of new illicit networks.

http://www.ndtv.com/india-news/afte...e-foreign-media-1634033?pfrom=home-topstories
 
prasad1 said:
No It did not even make a dent in the corruption. It actually increased corruption and black money (in new notes).

l
Click to expand...

Naysayers are free to offer their opinion.

It is just going to be 20+ days since annoucement of demonetisation.

If one predicts the outcome of such longterm schemes and policies within a short period, he can be onely defined as .......... !!

No evaluatiion, No analysis and just going by sporadic incidents of corruption reported in news papers...

I leave it to the readers for their conclusion.
 
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"The whales and sharks will break out of this net easily and find a way to pump their money back into system through organized networks," said C.H. Venkatachalam, general secretary of the All India Bank Employees Association, a union representing 500,000 bank personnel. "It is not easy to cull out the black money from India's economy, and the real big players are tough to touch. "

The rise of underground networks illustrates the challenge Modi faces in trying to stamp out entrenched corruption in a country where cash accounts for 98 percent of consumer transactions -- and raises the prospect that he'll pay a steep political price for a move that threw India into chaos.

Money-laundering networks promise to deliver clean cash by routing it through India's hinterlands. One method relies on high-turnover businesses, such as trading houses or manufacturing operations, which report cash revenue to the government. With their sales disrupted by millions of Indians' sudden inability to access cash, these businesses can make up the shortfalls by accepting old cash from money-laundering networks, calling it revenue, and then returning a portion -- typically 50 percent of the total -- in new notes.

Other laundering networks focus on bringing the money into the system through the bank accounts of people with tax exemptions, such as farmers or those who derive income from agricultural activities, the lawyer said. Certain tribal communities in India's northeastern states, including Nagaland, Manipur and Tripura, are exempted from paying taxes on income from any sources.

Some of the operators are turning to the hawala system -- which is based on trust or family connections and operates using the mispricing of goods, financial loopholes and hidden accounting procedures to take in cash in one location and pick it up in another -- active in India for decades. By using the hawala networks, agents offer to replace old currency notes with new and offer services to pick up the money in remote locations, the lawyer said.

Individuals are transporting millions of rupees on trains or vehicles, and the big money-laundering networks have been chartering flights to transport crateloads of cash to India's northeast from small airfields, the lawyer said.


http://www.ndtv.com/india-news/afte...-media-1634033?pfrom=home-topstoriesbury/have

[h=3]bury/have your head in the sand[/h]​to refuse to think about unpleasant facts, although they will have an influence on your situation:
You've got to face facts here - you can't just bury your head in the sand.

 
prasad1 said:
​to refuse to think about unpleasant facts, although they will have an influence on your situation:
You've got to face facts here - you can't just bury your head in the sand.
Click to expand...

We know the facts pretty well as we experience personally...

And as such, we need no advice from persons who depend on may be undependable sources like media and other contacts like friends, relatives, etc

We do change the P.M, we do change the C.M. and we do change the Government.... through election ... for better Governance.

Please first try to keep your house, where you live, clean ... before commenting ..

This may remind one the proverb 'Kettle calling the pot black'.

Please go through the following news item which speaks volume...

"3 N.Y.P.D. Commanders Are Arrested in Vast Corruption Case

"Three New York Police Department commanders were arrested on Monday, along with a Brooklyn businessman, on federal corruption charges linked to one of several continuing investigations into Mayor Bill de Blasio’s campaign fund-raising.

The arrests were one of the most significant roundups of police supervisors in the recent history of the department — a deputy chief and a deputy inspector accused of accepting expensive gifts from two politically connected businessmen who prosecutors say were seeking illicit favors from the police.

In court papers unsealed on Monday, federal agents describe how the two men, who are at the center of one of the City Hall fund-raising inquiries, showered gifts on senior police officials: jewelry for the police inspector’s wife; a video game system for the chief’s children; tickets to Brooklyn Nets games; hotel rooms in Rome and Chicago; even a private-jet flight to Las Vegas, with a prostitute on board.

Source: http://www.nytimes.com/2016/06/21/nyregion/nypd-arrests.html?_r=0
 
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For what Prime Minister Narendra Modi is trying to do, through the demonetisation exercise, through the Benami Property law and by pushing through the Goods and Services Tax (GST), is nothing short of a revolution. And, as Mao said long ago, “A revolution is not a dinner party, or writing an essay, or painting a picture, or doing embroidery; it cannot be so refined, so leisurely and gentle, so temperate, kind, courteous, restrained and magnanimous.” What he meant was you can’t make an omelette without breaking eggs.

Hope Modi s great leap forward doesn't end like Mao s!

Even so, the endeavour is fraught with great risks, exacerbated by the unsettled global environment. The original Great Leap Forward, after all, was an unmitigated disaster. But perhaps Modi believes, like Mao,:

“There is great disorder under heaven; the situation is excellent.”

https://www.google.com/amp/www.live...mp&utm_medium=referral&utm_campaign=googleamp
 
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There are also reports of temples being used to convert the black money into new currency notes. Donations to religious institutions in old notes are exempt from the ban, but a television channel caught on camera a priest at the Govardhan Temple in Mathura in northern India who offered to convert banned currency notes into new ones. People are also using weddings as a way to deposit the currency into bank accounts, as cash gifts received during marriage are exempt from taxation.


The real estate industry, which accounted for a large share of illicit deals with an estimated 10 to 15 percent of its transactions done with black money even before the currency ban, is also attracting further investments with banned notes.


An e-mail offer sent out by the Mumbai property brokerage had the subject line, "Under old currency 2BHK Sale Khar West," which meant that the purchaser could pay in banned bills for 2-bedroom apartments in the upscale Mumbai suburb of Khar. The offer price, for units in a seven-story building with floor-to-ceiling windows, was about 30 million rupees, or about a 10 percent premium over other comparable sales.


http://www.ndtv.com/opinion/a-month...k-at-the-fiasco-1634122?pfrom=home-topstories
 
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