Imagine If Rbi Pulls Back Rs.1000 And 500 Currencies?

Discussion in 'Money Matters' started by leelal, Feb 4, 2009.

  1. leelal

    leelal Bronze IL'ite

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    Hi Friends,

    As we all know, there is recession and economy slowdown every where.
    But there is a school of thought that Indians rank in the toplist with respect to holding Black money and also lots of Swiss account.:hide:

    If we get this money into our economy in a legal way, we can build a much better India through Infrastructure, Education, Rural healthcare and Govt policy investments.:cheers

    One of my wild IDEA/Suggestion :idea is what if RBI calls back all the earlier Issued Rs.1000 and 500 notes? Typically usage of 500 and 1000 rupee is brought to nil and no value if anyone holds such currencies.:hide:

    Am sure there will be lots of chaos in Banks and at individual level, but money will soon start rotating hands....:rotfland economy will be better........


    Any thoughts/critics to this post are welcome.
     
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  2. leelal

    leelal Bronze IL'ite

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    Hi friends,, On Nov 8,2016 the above idea is implemented by our proud PM Mr.Modiji...
     
  3. Rihana

    Rihana Moderator Staff Member IL Hall of Fame

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  4. KashmirFlower

    KashmirFlower IL Hall of Fame

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    modiji really took a step towards it, which works, thanks for sharing.
     
  5. Shanvy

    Shanvy IL Hall of Fame

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    @leelal miss your discussions. Especially indian education. Whst is happening with you venture?.

    Good one @leelal . Hope it brings good things to the common man. But my mind panicked at the thought of 2000rs note. 500 is short change and 1000 was the nee 100. Looks like 2000 will tacke its place
     
  6. JustAnotherMom

    JustAnotherMom Platinum IL'ite

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    @leelal, look like they listened to you but took few years to implement it :)
     
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