1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

India Ban old currecny Rs 500 and Rs 1000 Notes

Discussion in 'BlackHat Lounge' started by Nut-Nights, Nov 8, 2016.

  1. Nut-Nights

    Nut-Nights Jr. VIP Jr. VIP

    Joined:
    Jun 20, 2013
    Messages:
    5,465
    Likes Received:
    3,455
    Location:
    Hell
    Home Page:
    So basically Rs 500 and Rs 1000 notes dont have legal status from mid night. Anyone here in black money ? How you feeling now ?
     
  2. Take Action

    Take Action Jr. VIP Jr. VIP

    Joined:
    Aug 3, 2014
    Messages:
    1,260
    Likes Received:
    271
    Gender:
    Male
    Home Page:
    Bold move from the Indian Prime Minister. This will be huge step in eradicating black money in India.

    Its a CheckMate for Black money holders. Lets see how this goes.
     
  3. indianfreak

    indianfreak Power Member

    Joined:
    Jan 4, 2008
    Messages:
    706
    Likes Received:
    453
    Also Checkmate for terrorists that have tons of counterfeit currency. All now worthless pieces of paper. Really bold move by Modi.
     
  4. Nut-Nights

    Nut-Nights Jr. VIP Jr. VIP

    Joined:
    Jun 20, 2013
    Messages:
    5,465
    Likes Received:
    3,455
    Location:
    Hell
    Home Page:
    Agree it will f**k Hawala money holders.
     
  5. akssiv2007

    akssiv2007 Senior Member

    Joined:
    Jul 11, 2013
    Messages:
    971
    Likes Received:
    222
    Gender:
    Male
    Occupation:
    Webber
    Location:
    Earth
    It's a masterstroke.
     
  6. devilinside

    devilinside Junior Member

    Joined:
    Feb 4, 2016
    Messages:
    125
    Likes Received:
    19
    Gender:
    Male
    Location:
    India
    Namo Namo
     
  7. pressrelease

    pressrelease Power Member

    Joined:
    Jan 6, 2016
    Messages:
    669
    Likes Received:
    239
    Location:
    Disneyland
    what you define in old, and how old ?any time frame, and is their any printing on bills which says the year of printing.
     
  8. akssiv2007

    akssiv2007 Senior Member

    Joined:
    Jul 11, 2013
    Messages:
    971
    Likes Received:
    222
    Gender:
    Male
    Occupation:
    Webber
    Location:
    Earth
    Anything over 100 is old & not valid from midnight today. The info was released at 8 PM. :p
     
    • Thanks Thanks x 1
  9. Nut-Nights

    Nut-Nights Jr. VIP Jr. VIP

    Joined:
    Jun 20, 2013
    Messages:
    5,465
    Likes Received:
    3,455
    Location:
    Hell
    Home Page:
    From old i mean old design of currency notes, not time frame.
     
  10. pressrelease

    pressrelease Power Member

    Joined:
    Jan 6, 2016
    Messages:
    669
    Likes Received:
    239
    Location:
    Disneyland
    still confusing, still needs a clear guideline on what is old, or everything till date is old and they are bringing something very new..
     
  11. ePrime

    ePrime Jr. VIP Jr. VIP

    Joined:
    Aug 16, 2014
    Messages:
    304
    Likes Received:
    115
    Every Indian paper currency of domination 500 and 1000 is "old" and no longer a legal tender after 12 PM IST (72 hours exception for medical services, railway and air ticket booking and petrol and diesel stations)

    Yes, they are bringing new currency of domination 2000 and a new design for Rs. 500 notes AFAIK.
     
  12. xRAYPEST

    xRAYPEST Jr. VIP Jr. VIP

    Joined:
    Nov 29, 2014
    Messages:
    509
    Likes Received:
    206
    Amazing decision by Modi. This will screw all the black money holder. Although it will be a little inconvenient for normal citizen since they have to get all the money exchanged but this will surely help Indian Economy grow.
     
  13. sohom

    sohom Senior Member

    Joined:
    May 26, 2013
    Messages:
    990
    Likes Received:
    175
    Location:
    not in Past
    If your money is valid & you are paying TAX right way
    then no need to worry about this NEWS

    Anyway for the info
    you can exchange your (old printed) money to the bank or Post office from 11th November to 30 December
    Since in next 2 days ,all ATM & Bank,etc would be Closed

    Old printed 500 & 1000 notes = All the money which had printed till today.
    They will release new printed 500 & 2000 notes from 12th November.
     
    Last edited: Nov 8, 2016
  14. jp_smith86

    jp_smith86 Jr. VIP Jr. VIP

    Joined:
    Jul 6, 2012
    Messages:
    901
    Likes Received:
    359
    Location:
    DIL APNA PUNJABI
  15. bossofthebosses

    bossofthebosses Jr. VIP Jr. VIP

    Joined:
    Feb 7, 2015
    Messages:
    689
    Likes Received:
    281
    I am not an Indian. So just asking: It is definitely not a sudden decision, like the decision was not made overnight, right? It was definitely declared few months/weeks ago that from today the notes will not work. So the black money owners got enough time to buy golds/properties/others ways to convert those notes? So will this step really be useful? I read that the Gov. will release 500/1000 new notes - if that happens, what is the point of banning these notes now?
     
  16. mondovo

    mondovo Jr. VIP Jr. VIP

    Joined:
    Dec 3, 2015
    Messages:
    223
    Likes Received:
    57
    Gender:
    Male
    Home Page:
    I think it's been a great move and will go a long way in making India a better country. I strongly believe this will be one of those defining moments in history that will have the biggest long term impact on our nation (and it should be a positive one at that).
     
  17. XxUnivaxX

    XxUnivaxX Jr. VIP Jr. VIP

    Joined:
    Jan 15, 2013
    Messages:
    2,569
    Likes Received:
    1,253
    Gender:
    Male
    Location:
    Basement
    Yeah the any currency higher that 100rs are not valid from now i.e. notes of 500 and 1000 besides 500 INR note is getting a new makeover and 2000 INR note is being added into the inventory replacing 1000 INR note.

    Really bold and efficient move, Also keeping in mind that this action was kept a secret so that no money launders could take any action.
    Another surgical strike. :cool::cool::cool:
     
  18. XxUnivaxX

    XxUnivaxX Jr. VIP Jr. VIP

    Joined:
    Jan 15, 2013
    Messages:
    2,569
    Likes Received:
    1,253
    Gender:
    Male
    Location:
    Basement
    Nope this decision was made overnight while the work was done behind the scenes. Even the media had no clue why they have been called for the interview today.
     
  19. mondovo

    mondovo Jr. VIP Jr. VIP

    Joined:
    Dec 3, 2015
    Messages:
    223
    Likes Received:
    57
    Gender:
    Male
    Home Page:
    It was a sudden and surprise decision and that's what makes it that much more impactful. The ones with the most illegal sums of cash have the least amount of time to prepare. It will be inconvenient for everyone for a few days but in the larger scheme of things it works to the benefit of the country.
     
  20. xRAYPEST

    xRAYPEST Jr. VIP Jr. VIP

    Joined:
    Nov 29, 2014
    Messages:
    509
    Likes Received:
    206
    He made the announcement 4 hours back, no one knew about it till then, it was sudden and shocking and in 5 mins, all the 500-1000 will be banned. So, it was a sudden decision and blaack money owners got what they deserved.