Demonetization “Back to the events as they occurred, and the year was

Just a year ago, Indians everywhere added new words to their keyword “demonetization”. Financial analysts to ordinary men in the street, suddenly People talk about it … Demonetization is a new word, and the boy echoed. But what is the meaning of demonization? Yes, the site of information and financial education. Defining it as an act deprives a currency of its status as a legitimate offer and occurs whenever there is a change in the national currency: the current forms or forms Money is drawn from circulation and retirement, often replaced by new notes or coins, sometimes a country completely replaces the old currency with the monetary unit. The announcement was made on November 8, 2016, because that does not mean that India is. The first was removed, with experiments made “first in 1946, to punish Indian companies hiding the benefits of military contracts during World War II, then in 1978, when the coalition government destroyed, ¹1,000, ¹ 5,000 and 1010,000 rupees, hoping to restrict counterfeiting and black money.A common theme between past efforts and the recent order is to flush the financial system clean black money? And corruption.Only time and history are the true judges of its success This judgment is not the purpose of this article. We review the important events unfolding in one of the largest economic revisions of the 21st century. and the month of the operation follows. The announcement made by the Prime Minister on 8 November shook the entire Although there are rumors and rumors before, the whole movement is an expl erosion of blue to a whole country, including the base. In the struggle to meet logistical requirements, the government is forced to regularly reevaluate its estimates and positions, resulting in daily changes and policy updates. We carefully review the key events of the first month of cancellation: November 8, 2016 – Prime Minister Narendra Modi gave a live concert Not scheduled for the country at 20:15 IST . He announced the circulation of all bank50000, and, 1000 existing bank notes are not valid from midnight and announced the release, 500 news and, 2 million tickets in exchange for the old. 9 November 2016 “Banks and ATMs closed on day 1. The government announced that the bank deposit on ¹2.5 Rupiah would be subject to tax and possible penalties, while suspending all charges on the highway until midnight on November 11. All major banks announce working hours up to 20 hours and exemptions from ATM transaction fees with future forecasts. / P> November 10, 2016 “The bank reopened while the ATM remained closed; Long line-ups snake in most branches, as people shudder to send money and exchange canceled tickets. November 11, 2016 “Many online teller machines are posting pay notices for the first time, but they are drying out for a few hours as people pull out of the box. money. Possible The Reserve Bank of India (RBI) on the availability of money and the government extends exemptions using old notes and continues free until midnight on November 14. p> 13 November 2016 “Between the continuous queues and s, the trading limit is revised to ¹4,500 words, ¹4,000 and the ATM withdrawal limit is increased. 500 words, ¹2,000. The weekly withdrawal limit of the bank is raised to ¥ 24,000 from ¥ 20,000 and the maximum daily withdrawal limit is ¹ 10,000 also rejected New difficult to rig Notes ¹500 notes are officially placed on the market. November 14, 2016 “The Government continues to extend the previous acceptance deadline of $ 1,500 and 1,000 notes until November 24 2016. Cash advances to current account holders are increased by 5050,000 per week and ATM transaction fees will be suspended until December 30. 15 months 11 of 2016 “Complaints of the parties Just a year ago, Indians everywhere added new words to their keyword “demonetization”. Financial analysts to ordinary men in the street, suddenly People talk about it … Demonetization is a new word, and the boy echoed. But what is the meaning of demonization? Yes, the site of information and financial education. Defining it as an act deprives a currency of its status as a legitimate offer and occurs whenever there is a change in the national currency: the current forms or forms Money is drawn from circulation and retirement, often replaced by new notes or coins, sometimes a country completely replaces the old currency with the monetary unit. The announcement was made on November 8, 2016, because that does not mean that India is. The first was removed, with experiments made “first in 1946, to punish Indian companies hiding the benefits of military contracts during World War II, then in 1978, when the coalition government destroyed, ¹1,000, ¹ 5,000 and 1010,000 rupees, hoping to restrict counterfeiting and black money.A common theme between past efforts and the recent order is to flush the financial system clean black money? And corruption.Only time and history are the true judges of its success This judgment is not the purpose of this article. We review the important events unfolding in one of the largest economic revisions of the 21st century. and the month of the operation follows. The announcement made by the Prime Minister on 8 November shook the entire Although there are rumors and rumors before, the whole movement is an expl erosion of blue to a whole country, including the base. In the struggle to meet logistical requirements, the government is forced to regularly reevaluate its estimates and positions, resulting in daily changes and policy updates. We carefully review the key events of the first month of cancellation: November 8, 2016 – Prime Minister Narendra Modi gave a live concert Not scheduled for the country at 20:15 IST . He announced the circulation of all bank50000, and, 1000 existing bank notes are not valid from midnight and announced the release, 500 news and, 2 million tickets in exchange for the old. 9 November 2016 “Banks and ATMs closed on day 1. The government announced that the bank deposit on ¹2.5 Rupiah would be subject to tax and possible penalties, while suspending all charges on the highway until midnight on November 11. All major banks announce working hours up to 20 hours and exemptions from ATM transaction fees with future forecasts. / P> November 10, 2016 “The bank reopened while the ATM remained closed; Long line-ups snake in most branches, as people shudder to send money and exchange canceled tickets. November 11, 2016 “Many online teller machines are posting pay notices for the first time, but they are drying out for a few hours as people pull out of the box. money. Possible The Reserve Bank of India (RBI) on the availability of money and the government extends exemptions using old notes and continues free until midnight on November 14. p> 13 November 2016 “Between the continuous queues and s, the trading limit is revised to ¹4,500 words, ¹4,000 and the ATM withdrawal limit is increased. 500 words, ¹2,000. The weekly withdrawal limit of the bank is raised to ¥ 24,000 from ¥ 20,000 and the maximum daily withdrawal limit is ¹ 10,000 also rejected New difficult to rig Notes ¹500 notes are officially placed on the market. November 14, 2016 “The Government continues to extend the previous acceptance deadline of $ 1,500 and 1,000 notes until November 24 2016. Cash advances to current account holders are increased by 5050,000 per week and ATM transaction fees will be suspended until December 30. 15 months 11 of 2016 “Complaints of the parties By using the mule to exchange money and make several deposits / exchanges, the government requires banks to use ink that can not be erased (marked) to mark the fingers of the exchange. Old notes to the branches. 16 November 2016 The State Bank of India (SBI) announced that it had gained 1.14139 crore of junk food grades in the first week. November 17, 2016 “The government has reduced the transaction limit for notes that no longer exist, ¹2,000 words, ¹4. , 500, but reduced cash withdrawal limits for farmers by allowing them to withdraw up to 50 50 000 a week from banks against the loan. RBI provides the public with sufficient liquidity. The exemption from road taxes extends until 24 November at midnight. 21 November 2016 “In the circular, the government states that farmers can use Note ¹500 old tickets to buy seeds.In one, the RBI said the Banks had received ¹5.12 million crores in deposits so far and traded ¹33.006 crores. 22 November 2016 “Banks reported that 82,500 ATMs (out of a total of $ 2.2 thousand) have been calibrated to distribute records.The new 500 and 2,000 RBIs double the limit for transactions via prepaid prepayment tools (PPIs), such as ePortfolios – until ‘to 20,000. > November 23, 2016 “SBI announced that it has received, ¹1.20 crores lakh Bee Drop. 24 November 2016 “Motorway exemptions extend until 2 December. The basic swap exchanges old notes but extends the shelf life, ¹500 tickets in special cases until midnight on December 15th. November 25, 2016 “In response to the strong publicity, ATMs will continue to trade, ¹500 and, 1000 old notes. 26 November 2016 “The RBI revealed that in the two weeks following the monetization notice, Jan Dhan’s accounts noted a sharp increase in deposits, from 27,200 crores to about 72,834.72 crores. November 27, 2016 “Indian Post says Crore cr 32,631 has been mailed since the beginning of the money. November 28, 2016 “The RBI has estimated about 8.45 lakh canceled in three weeks. Day 30 November 2016 December 1, 2016 “The RBI limits the withdrawal of Jan Dhan’s account to £ 10,000 a month. December 1, 2016 The government issued a surprise notice that ¹500 old tickets were valid for fuel and airline tickets only until December 2, instead of December 15, as previously announced Banks announced that nearly 1.8 thousand ATMs across the country have been recalibrated to allocate 500 and 2,000 new tickets. December 7, 2016 < "The RBI says, 55 lakh crores (about 76%) of undesirable banknotes in circulation have returned. Game between: loosen worries and stability? Even though 2016 is coming to an end, the frenzied run of ATMs and ATMs is dying out, forcing many people to adapt to new realities as economic stability gradually reaffirms. At the end of the fiscal year, March 31, 2017, much of the uncertainty created by the decision began to be specifically addressed to businesses. The Indian public is also gradually learning to do so. Here are some key events that will take place between December 12 and March 31, 2017: January 29, 2017 "The new data reveals that Jan Dhan saw a withdrawal of nearly 5,000 crores in the month following the disappearance. 31 January 2017 "The government announced that taxpayers have created exceptionally large devil depots will receive enlightened explanation of computer requirements; estimated to increase the number of potential taxpayers to nearly 18,000. 1 March 2017 "The Indian Government has announced the Designated Bank Bill (Accountability) Act , 2017, imposing ¹10,000 penalties because you keep more than 10 ¹500 and ¹ 1,000 marks and / or more than 25 marks for learning purposes. March 13th 2017 "RBI lifts all withdrawal limits s. March 20th 2017 "In the first settlement of allegations, the IT division launched criminal proceedings to Mumbai's electronics entrepreneur Lakhbir Singh Bhatty for allegedly signing the order," In the new fiscal year, Demonetization continues to have an impact, especially with the reshuffle triggered by the new GST regime, particularly the micro, small and medium enterprise (MSME) sector, and recently Anil Bhardwaj, Secretary General of the Small and Medium Enterprises Federation. and medium-sized enterprises of India (FISME), told IAN: "The base of the MSME pyramid is constituted by the informal sector, which has traditionally operated cash withdrawal cash, this market accounts for about a quarter or so Slow recovery due to new interruptions in the form of GST In the short term, may lose a business opportunity due to lack of capital in the market The RBI recently admitted that the almost all but 1.4% of the 1,000 old notes are returned to the banking system. Here are some of the biggest developments around making money in the current fiscal year: April 1, 2017 "The first day of the new fiscal year. is also the last day to return the old punctuation marks, and the long queues are seen outside the RBI headquarters, when people are desperately trying to change their last currency. 14 April 2017 "The IT department announces the second phase of ~ Operation Clean Money ™, its action plan to detect and eliminate cash investments. black after the cancellation of the money. Officials said they plan to investigate an additional 60,000 taxpayers in Phase II. April 19, 2017 "The Central Tax Administration Direct (EDTC), dated May 31, is the period of verification of deposit data in ~ Operation Clean Money ™. May 11, 2017 "Report shows monetization has boosted POS sales to retailers (estimated demand) 10 lakh machines are sold from November 2016 to March 2017) On the other hand, when the currency crisis worsened, banks reduced the number of ATM installations. 17 May 2017 "The central government launches new online portal for clean money , with thematic and detailed reports.The government's press release said it had added 91,000 new taxpayers after being demonized. current incomes do not reveal to the tone, ¹23,144 crores within six months after demonetisation. 21 June 2017 "The government is asking for banks and The post office sends his collection of junk notes at the RBI before July 20th. 16 July 2017 "A Presentation by a Member of Parliament Senior Officials Recognize Delivery Card transactions increased by only 7% after cancellation, although total number of transactions increased by 23%, from 22.4 million in November 2016 to 27.5 million in May 2017. 11 August 2017 "A RBI document indicates that extraordinary and unexpected deposits reached a threshold of 1.7 lakh during the cancellation process. 14 August 2017 "The number of IT returns paid for 2017-18 has increased by almost 25% over the same period last year to 2, 83 crores on August 5. August 25, 2017 "RBI has announced new tickets and ¹50 and ¹200. The new note is part of a series of upcoming measures to counter the prolonged effects of money. As debates about its "positive or negative" impact continue, it is clear that liquidity continues to prevail. The romance with digital payments that demonetization has sounded in no time. Whether it's vegetable suppliers, cigarette sellers or food delivery people, it's all the happier to deal with money than digital payments. It will be a measure of the benefits and costs, the sabotage and its impact on the development of the cashless way in India.

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