On November 8th, PM Modi shook the country by discontinuing ₹500 and ₹1000 notes and everyone went into a frenzy. Especially those who have black money stashed in nondescript places.
This Reddit thread started as a discussion titled ‘Do you guys know any people hoarding lots of black money and affected? Tell us the stories’ turned into a gold mine when people came in with super eye-opening revelations.
1. A Government officer, not so honest.
Friend’s uncle is a senior IAS. He had some 4-5 Cr of black money deposited with various middlemen. Now the middlemen have told him to take it back or forget about it. He is trying to split the money into lots of 40-45k and ask his maid, driver, house help to deposit in their accounts so that he can withdraw later. His salaried relatives might help with 1-2 lakhs each. Still, he will lose almost 80% of his unaccounted money because there is only so much you can get back in the system this way.
2. The honest family is the best family
This happened to our family, was in the midst of selling an apartment, 25% was black. We wanted white anyway since we would’ve bought another property immediately and long term capital gains wouldn’t matter, the buyer bitched and bitched saying he doesn’t have that big a white source.
So we took the money a few weeks ago. Today we called him up and asked him to take back the money and give us in white or cancel the sale, we’ve no written agreement. So he’s screwed.
3. Doctors in a terrible surgical strike on black money!
A friend whose father is a developer posted a big rant on facebook yesterday about how this move is totally unfair and it’s going to ruin the economy etc, etc. The salt was delicious 🙂
Another friend whose parents are doctors with 50L of cash at home is freaking the fuck out.
Long lines outside all gold shops in the locality. They’re accepting 500 notes at a reduced value, I think 250.
4. Those who steal
One of the people i know literally had a heart attack. He owns multiple manufacturing industries and it’s well known that he doesn’t pay taxes and worse, he never pays for electricity (he steals it by bribing the electrician and the ministry)
Allegedly he lost anywhere between 700-1000 crores! (or even more)
5. How much do you have to have if you are rich and happy with this decision?
A friend of mine spent almost 40 crores on 125 acres land in south India. 85% black. He is the happiest person I know.
6. The business of education
My friends Engg college in Blore is fucked. These colleges take crores in hard cash as donations.
7. Creating a ‘white’ channel?
A person I know who has about 45 lakhs in cash right now.
She is buying granite and mica worth that in cash and selling it later. Seller is just going to deposit the cash (after routing it through a series of transactions) as his/her business income.
I can’t decide if it’s stupid or ingenious.
8. Beware of dishonest bankers!
My cousin works in a bank. Bank was closed today but the employees had to go,so he got back and was telling me about this boy he knew from school days. They are not exactly friends but more of acquaintance. So the boy called my cousin in a panic today and asked him a favour to help him by giving tips to somehow make 25 lakhs of his into white money. Lol. My cousin was even more surprised and straight out told him No. This boy earlier apparently used to make fun of my cousin and other friends in govt/central jobs for having to pay complete tax while he got away with declaring his income as just 3 lakh. He was known as a big ass among their circle.
And the fact that he was swindling the 25 lakhs from his own father makes it even worse. He worked for his dad’s construction company and was stealing from his own father!!
Now he can not even share his problems or ask “help” to his family members. Sucker. Lol.
9. Housewives cleaning up the mess their husbands made
This seems like a minor anecdote.
I went to my local supermarket to buy some noodles and milk. A local place, nothing branded or chained.
There was a steady stream of middle/lower-middle class housewives who were asking if they are still accepting 500/1000 notes. The shopkeeper would say “yes”. These women, sometimes accompanied by kids or sisters/SILS, would proceed to buy stuff I’ve never seen being purchased there. They have a thin selection of Dubai-imported perfumes, electronics, and chocolates. It was being bought. Kids were getting their asking of “kinder joy” chocolate eggs. Mothers were buying cheap cosmetics that definitely didn’t suit them. Subtle, but obvious.
Reading this completely made my day!
Source : Reddit