Yesterday after the flash news, I was in standing in a queue for taking money from ATM, there was one business man standing behind. He was on the phone with an IOB bank manager about exchanging his black money of 1.x crores of ₹500/1000 notes. The manager replied to him not to worry and he could easily change the money with the id card of other persons who are exchanging amounts in banks.
So write the purpose clearly with amount value and sign it before giving id card xerox to banks more
So write the purpose clearly with amount value and sign it before giving id card xerox to banks more
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The government should make all out efforts to find out all such bank officers and the black money holders and put them behind the bars for decades without any mercy. more
Nov 21
Dear Sri Guptaji, Your premonition that with pliable bank managers, it is possible to convert black money of now defunct currency to valid white currency, appears to be reasonably correct but it has it's own limitations. Every application for deposit/ exchange of old currency has a column for writing the number & value tendered and total amount. It is the responsibility of every citizen to enter it properly. This information is immediately entered by the official at counter into the system along with Identity mode & number. The replacement cash can only be dispensed or entered into your bank account only after this operation. Thus, if a bank branch wants to help a black money holder, they have to enter the balance tender into the computer at that very time and also keep track of the surplus being generated. This surplus is what helps conversion of black into white. This requires organised effort. An easier method for fraudsters is to preplan the effort and convert their black into white through their employees, which method is also reported in this forum. I hear rumours that this is being adopted by many especially political fraudsters. It is rather unfortunate that you have extremely dishonest people as well as extremely gullible people, who are pawns in this country. It is my feeling that Asians, in general, are more dishonest than the rest and amongst Asians, the Indians are simply unbeatable in ingenuous dishonesty. more
Nov 15
The manager in charge of the bank shall be answerable if he misused the ID card of others.RBI shall issue suitable instructions to avoid such occurrances more
Nov 14
