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Thats not how most of the people feel at the ground level. Pharmacies/medical-stores, vegetable shops, petrol stations are already refusing to accept the notes.

Thats not how most of the people feel at the ground level. Pharmacies/medical-stores, vegetable shops, petrol stations are already refusing to accept the notes. [1] [2] [3] >> When asked for the reason, a chemist said, "Who will stand in the long line to exchange the notes? We don't want to accept it anymore." This was the reason given by most of the shopkeepers. [1] [1] https://www.indiatoday.in/india/story/rs-2000-note-reality-check-small-shops-vendors-petrol-pumps-uttar-pradesh-up-kolkata-delhi-2382589-2023-05-22 https://www.indiatoday.in/india/story/rs-2000-note-reality-c... [2] https://timesofindia.indiatimes.com/city/bengaluru/day-after-rbi-move-many-shops-refuse-2k-notes/articleshow/100389384.cms?from=mdr https://timesofindia.indiatimes.com/city/bengaluru/day-after... [3] https://www.cnbctv18.com/business/retailers-delivery-agents-hesitant-to-accept-rs-2000-notes-say-reports-16719371.htm https://www.cnbctv18.com/business/retailers-delivery-agents-...

SanjayMehta 3y ago
2000 rupee notes stopped being released by banks over a year ago so these stories are really hard to believe.
- kshacker 3y ago
  Fed stopped printing money a couple of years back but they are still unable to swoop it back after what is it 18 months of working on it? Sometimes when you overprovision it takes a lot of effort to reverse it.
  - unmole 3y ago
    I'm sorry, do you believe the Fed actually printed excess currency notes? If not, I don't understand why you think your analogy makes any sense in this case.
- sateesh 3y ago
  That doesn't mean there weren't any 2000 rupee notes in circulation. https://www.deccanherald.com/city/top-bengaluru-stories/big-notes-at-bluru-petrol-pumps-fuel-quarrels-and-panic-1221186.html https://www.deccanherald.com/city/top-bengaluru-stories/big-...
- throwaway384629 3y ago
  How does it matter if they stopped releasing these notes a year ago? Do the notes that they released earlier disappear from pockets of public? On March 31, 2023 the total value of these banknotes in circulation was Rs 3.62 lakh crore constituting 10.8% of all the currency notes in circulation. [1] [1] https://economictimes.indiatimes.com/news/economy/policy/rs-2000-notes-to-be-withdrawn-from-circulation-to-continue-as-legal-tender/articleshow/100360379.cms https://economictimes.indiatimes.com/news/economy/policy/rs-...
  - unmole 3y ago
    > was Rs 3.62 lakh crore constituting 10.8% of all the currency notes in circulation Is the point. Demonetization made ~80% of the currency in circulation no longer legal tender overnight. This phasing out is in no way comparable. Which makes the idea that people will have to queue up at banks unbelievable.
  - SanjayMehta 3y ago
    So deposit your 2000/- notes hoard in a bank, withdraw as many 500/- notes as you need. There's no limit to deposits, only on exchanging cash anonymously.
    - throwaway384629 3y ago
      "Guess now it's again time to line up in banks." Thats what I mentioned in the top comment to which are you are replying.
unmole 3y ago
> Thats not how most of the people feel at the ground level. People and ground level probably also believe there's a GPS Chip in those 2000 rupee notes and that 10 rupee coins are all fake. Nevertheless, I did not see anyone queuing up at banks yesterday. Because there is no reason to.
- throwaway384629 3y ago
  During the 2016 demonitization, so called 'Journalists' in mainstream channels shared news that new notes have a nano-GPS chip and satellite can detect black money even if it's several hundred feet under the ground. The BJP propaganda team then shared this type of videos to the public across their Whatsapp groups across the country. [1] [1] https://twitter.com/bprerna/status/799577707969249280?lang=en https://twitter.com/bprerna/status/799577707969249280?lang=e... [2] https://twitter.com/shahnawazk/status/796950815332147200 https://twitter.com/shahnawazk/status/796950815332147200
  - unmole 3y ago
    People believe all kinds of nonsense with no basis in reality was exactly my point.
    - throwaway384629 3y ago
      The problem is that this "nonsense" is not a coincident. All of it is carefully planned, executed and fed to the public to divert their attention from core issues. You can see how all the "journalists" of different Indian news channels tweet at same time sharing same spelling mistake. Seems like they are getting the content copy from the same "office". [1] https://twitter.com/samjawed65/status/1340554570766946305?lang=en https://twitter.com/samjawed65/status/1340554570766946305?la... [1]
      - unmole 3y ago
        > The problem is that this "nonsense" is not a coincident. All of it is carefully planned, executed and fed to the public to divert their attention from core issues. So, you do agree that this is a boring exercise which doesn't deserve the breathless coverage that it's getting?

SanjayMehta 3y ago

2000 rupee notes stopped being released by banks over a year ago so these stories are really hard to believe.

kshacker 3y ago
Fed stopped printing money a couple of years back but they are still unable to swoop it back after what is it 18 months of working on it? Sometimes when you overprovision it takes a lot of effort to reverse it.
- unmole 3y ago
  I'm sorry, do you believe the Fed actually printed excess currency notes? If not, I don't understand why you think your analogy makes any sense in this case.
sateesh 3y ago
That doesn't mean there weren't any 2000 rupee notes in circulation. https://www.deccanherald.com/city/top-bengaluru-stories/big-notes-at-bluru-petrol-pumps-fuel-quarrels-and-panic-1221186.html https://www.deccanherald.com/city/top-bengaluru-stories/big-...
throwaway384629 3y ago
How does it matter if they stopped releasing these notes a year ago? Do the notes that they released earlier disappear from pockets of public? On March 31, 2023 the total value of these banknotes in circulation was Rs 3.62 lakh crore constituting 10.8% of all the currency notes in circulation. [1] [1] https://economictimes.indiatimes.com/news/economy/policy/rs-2000-notes-to-be-withdrawn-from-circulation-to-continue-as-legal-tender/articleshow/100360379.cms https://economictimes.indiatimes.com/news/economy/policy/rs-...
- unmole 3y ago
  > was Rs 3.62 lakh crore constituting 10.8% of all the currency notes in circulation Is the point. Demonetization made ~80% of the currency in circulation no longer legal tender overnight. This phasing out is in no way comparable. Which makes the idea that people will have to queue up at banks unbelievable.
- SanjayMehta 3y ago
  So deposit your 2000/- notes hoard in a bank, withdraw as many 500/- notes as you need. There's no limit to deposits, only on exchanging cash anonymously.
  - throwaway384629 3y ago
    "Guess now it's again time to line up in banks." Thats what I mentioned in the top comment to which are you are replying.

unmole 3y ago

> Thats not how most of the people feel at the ground level. People and ground level probably also believe there's a GPS Chip in those 2000 rupee notes and that 10 rupee coins are all fake. Nevertheless, I did not see anyone queuing up at banks yesterday. Because there is no reason to.

throwaway384629 3y ago
During the 2016 demonitization, so called 'Journalists' in mainstream channels shared news that new notes have a nano-GPS chip and satellite can detect black money even if it's several hundred feet under the ground. The BJP propaganda team then shared this type of videos to the public across their Whatsapp groups across the country. [1] [1] https://twitter.com/bprerna/status/799577707969249280?lang=en https://twitter.com/bprerna/status/799577707969249280?lang=e... [2] https://twitter.com/shahnawazk/status/796950815332147200 https://twitter.com/shahnawazk/status/796950815332147200
- unmole 3y ago
  People believe all kinds of nonsense with no basis in reality was exactly my point.
  - throwaway384629 3y ago
    The problem is that this "nonsense" is not a coincident. All of it is carefully planned, executed and fed to the public to divert their attention from core issues. You can see how all the "journalists" of different Indian news channels tweet at same time sharing same spelling mistake. Seems like they are getting the content copy from the same "office". [1] https://twitter.com/samjawed65/status/1340554570766946305?lang=en https://twitter.com/samjawed65/status/1340554570766946305?la... [1]
    - unmole 3y ago
      > The problem is that this "nonsense" is not a coincident. All of it is carefully planned, executed and fed to the public to divert their attention from core issues. So, you do agree that this is a boring exercise which doesn't deserve the breathless coverage that it's getting?