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 Ban NRs 500 and NRs 1000 in Nepal
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Posted on 11-11-16 3:15 PM     Reply [Subscribe]
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Guys, India banned Rs. 500 and Rs. 1000 came as great shock and people are going nuts but it deeply affected those who earned black money. Now, its nothing worth than a valueless paper. It controls economy in many ways to control corruptions.

So, should Nepal too Ban NRs. 500 and NRs. 1000 ? Lets discuss both pros and cons on socio-economic aspect of Nepal.
 
Posted on 11-11-16 4:09 PM     [Snapshot: 42]     Reply [Subscribe]
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India did not ban Modi banned it.

Modi is a jogi so he can ban it. In nepal all leaders are bhogis....each and every politician is a thieves and all of their theft is stored at 500 and 1000 denomination. Why would thieves agree to ban their own wealth that was earned with such a hard work of corruption?

Even if they ban it ....it will be after each and every one of those thieves exchange their 500s and 1000s into lower denomination.
 
Posted on 11-11-16 4:20 PM     [Snapshot: 52]     Reply [Subscribe]
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If they exchange to lower denominations, they will be caught exchanging such huge amount to show their source of income. It could be an effective way to expose all those corrupted people and make those black money just valueless. what do you say ?

Even if they try to exchange with gold or with $, its not so easy.
 
Posted on 11-11-16 4:36 PM     [Snapshot: 79]     Reply [Subscribe]
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I don't understand, how will banning the 500s & 1000s affect black money and corruption?
Why would they store their huge chunk of black or white money in their home or store? Wont those smart asses be smart enough to already have laundered those money to swiss or foreign accounts OR won't they just buy some properties n lands, invest elsewhere in others n relatives names??
जनतालाइ सास्ती??
 
Posted on 11-11-16 7:42 PM     [Snapshot: 154]     Reply [Subscribe]
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India's current inflation rate is around 5.7%. The value of money decrease as inflation increase. If India doesn't lower the inflation rate, this banning of Rs.500 & Rs.1000 will paralyze its citizen because they have to carry loads of bills with them.

Nepal inflation rate is higher than India. The current inflation rate of Nepal is around 10.24% which is twice than that of India. In such a high inflation economy, banning NRs. 500 & NRs. 1000 will be a nightmare. In Nepal, what can you buy with Nrs.100? Daily business transaction will be extremely difficult and the Nepal Rastra Bank would have to print enormous amount of 100s which will not be cost effective for them as well. Also, banning 500 and 1000 either in India or Nepal will not help in corruption as there are electronic ways to save your money. In fact, such a decision of banning may have negative effects on rural people who do not have access to banks.

I don't think this was a right move from Modi because he should be focusing more on how to decrease the inflation rate. When Inflation rate is down, the value of money automatically increase and people don't even have to use higher bills for their business transactions as their purchasing power increase.
 
Posted on 11-11-16 7:54 PM     [Snapshot: 163]     Reply [Subscribe]
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If that is the case in some county they have to carry money in a back back.
US needs to ban 50 and 100 dolllrs bill. 
Last edited: 11-Nov-16 07:55 PM

 
Posted on 11-11-16 8:10 PM     [Snapshot: 198]     Reply [Subscribe]
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Nepal maa 500 ra 1000 mai ta ramro kei paauna gaato cha. 100 ko note le ta chiya khaaye maatra ho tyo pani bato maa. Its not good idea.
 
Posted on 11-12-16 5:58 PM     [Snapshot: 381]     Reply [Subscribe]
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If the government has gut and can ban NRs 500 and NRs 1000 bill, then billion of money who had kept underneath of bed, heavy safe/vault through rampant corruption will be turn as like a paper by sucking deprived, poor and tax payers money. It might be more than 2 trillion nepali rupees kept in private safe/vault by business person, so-called political leaders in the black market to manage money laundering aka Hundi.

This will be great turn around to capture black money, corruption money and bring into tax bracket for all people by banning NRs. 500 and NRs. 1000.

But there should be mandatory tax id and declare source of income before exchange or deposit into bank account.

Each so-called Nepali leader will be trouble if they ban those two denomination.


 
Posted on 11-12-16 6:37 PM     [Snapshot: 405]     Reply [Subscribe]
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Las time i checked, those so called political leaders were running our government. So why could one even imagine our govt would ban 500 n 1000 rs notes?
 
Posted on 11-13-16 9:39 AM     [Snapshot: 527]     Reply [Subscribe]
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Hi people don't understand why this and what long term affects this.. here are my some point that may open some views for you.

So first we need to understand "What is demonetization of currency is"
demonetization is the act of stripping a currency unit of its status as legal tender.

After Modi announced that the notes of Rs 500 and Rs 1000 "will not be legal tender from midnight tonight" and these will be "just worthless pieces of paper".

What I understand the reason is :
1) To tackle black money in the economy.
2) To lower the cash circulation in the country which is directly related to corruption in country.
3) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism, mafia funding, other illegal funding etc.
The surprise move by government is a disaster for people who have accumulated lakhs and crores of unaccounted cash under their pillows and mattresses.

It has very long term affects, we can not say that it will 100% finish the corruption or black money but defiantly discourage the people to store black money, that is the main thinking behind all this act, Obviously people have fear in mind that if I store 2000 and 500 currency again as black money not sure when they going to banns this again.... So its all mind and economic politics game.
 


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