Currency Ban. 91 people died in queues outside ATMs and banks

[spongegar]

I the problem is the government's execution of this rupee note demonetization. I think the better way is to see this tax situation a year ahead so thatt the announcement could be done a year ahead and have people take their time to exchange their notes for longer period of time. Giving a day and you will see chaos.

[Btc_1856]

I the problem is the government's execution of this rupee note demonetization. I think the better way is to see this tax situation a year ahead so that the announcement could be done a year ahead and have people take their time to exchange their notes for a longer period of time. Giving a day and you will see chaos.

The sudden decision will always destroy the economic growth and middle-class people will suffer a lot because they need to stay a very long queue. I don't know why the government will take a sudden decision on this activity but one thing I want to control whether they managed to collect the money from the people?

[bajingluncat]

really the decision of a leader who is not wise, it may be true that his ideas and thoughts are good, but a good process is needed in its implementation, really inhumane if a regulation is made to sacrifice the lives of its citizens, regulations should be made to provide comfort and a better life for the people, I do not blame the decision taken by the prime minister but I regret why it seems sudden, if it is a big decision there should be gradual and controlled actions, so that there will be no loss of life, I am curious if there are illegal statements and legal sanctions For the ownership of the crypto currency in India, what will happen? Do you need a victim?

[Bitcotalk]

really the decision of a leader who is not wise, it may be true that his ideas and thoughts are good, but a good process is needed in its implementation, really inhumane if a regulation is made to sacrifice the lives of its citizens, regulations should be made to provide comfort and a better life for the people, I do not blame the decision taken by the prime minister but I regret why it seems sudden, if it is a big decision there should be gradual and controlled actions, so that there will be no loss of life, I am curious if there are illegal statements and legal sanctions For the ownership of the crypto currency in India, what will happen? Do you need a victim?

Sure, there should always be a process for everything and even if you want to make a decision, make sure that the first set of people you should be thinking of are the most at risk population which in this case are the low class and the middle class as far as I am concerned.

Unfortunately this has happened, and one way or the other, we just have to realize the need why we need a total liberation from all these way government has always executed their plans and at the end of the day, even if they have good intentions, which I doubt, they simply lack the prowess to execute it appropriately.

[BlueStackz]

I the problem is the government's execution of this rupee note demonetization. I think the better way is to see this tax situation a year ahead so that the announcement could be done a year ahead and have people take their time to exchange their notes for a longer period of time. Giving a day and you will see chaos.

The sudden decision will always destroy the economic growth and middle-class people will suffer a lot because they need to stay a very long queue. I don't know why the government will take a sudden decision on this activity but one thing I want to control whether they managed to collect the money from the people?

That is always the crazy part, the middle class as well as the low class are usually the ones suffering all the bad economic policies from the government both in the short term and in the long run and one of the reasons we just have to take freedom into our own hands if we wish to be liberated with the crypto ecosystem.

We have always known government to always come up with some drastic and not well thought decisions, and that basically shows that we have a governmental system that care less about the people they are meant to serve but only care about themselves.

[patarfweefwee]

This is a failure in the government's side and it's people shouldn't suffer for this. I mean a year at least is needed to demonetize a currency to make way for new ones. The ones that die due to this irresponsible act should be compensated for their loss. This is a blatant disregard for the welfare of it's citizens.

[0t3p0t]

Last week, former Indian finance minister P.Chidambaram said "not a single economist worldwide has approved the demonetization in India 2016

On November 08, 2016, Indian Prime minister made a sudden announcement that Rs 500 and Rs 1000 currency notes will be invalid from November 09, 2016. The Indian government plan was to destroy all black money/unpaid taxes hidden by Indians in cash in the form of Rs 500 and Rs 1000 notes.

Indian people were given time till November 23, 2016 to exchange the old currency notes at all the banks in India. So there were long queues outside Banks for depositing money and also withdrawing money. I was in the queue at the bank for 2 hours and 30 minutes.

Later Indian Congress leader 'Rahul Gandhi" said "91 people had died in queues outside banks and ATMs" which was the result of sudden announcement by PM Narendra Modi.

Prime Minister "Narendra Modi" is very proud of his actions  

Here in my country news like that is not new and is always happening most especially in this season. Fiat money  is the cause why people died every single day and that is what fiat did to the world. If people would use Bitcoin or any cryptocurrency as funds I think the risks would lessen  due to the privacy feature of crypto. Though crypto is volatile I think we need to have both assets to make sure we are safe.

[rez303]

This is really a repression from the government of India. I am not a native of India but I am really upset about this action. The country of India will not be able to develop better if such a situation persists.