As a banker, it was the toughest days of my career. Each day there were new roles and limits. Currency wasn't available and it was a lot because you had to manage some really frustrated public whose plight we understand but there is nothing much you can do. I am surprised they included the ATM slot not being made for the new notes. That problem has not been solved completely yet.
@@ajatmitra9495 i hated demonitization at start but it is the biggest reason UPI came in picture and now we have one of the best online payment system in the world
that bit in the starting where tanmay gives a 5-month salary to his servant was not even a joke many people did that to get rid of those notes, what a time that was sheesh
Context: Govt decided to ban denominations of Rs 500 and Rs 1000 and introduced new Rs 500 and Rs 2000 currency notes so that people who have stashed crores of rupees as black money in their homes will not be able to exchange them with new notes. But they failed so bad in implementation that these people who had black money comfortably exchanged the black money using their connections in banks(usually giving 30% commission to bank officials) whereas the common man suffered due to low availability of currency in the market and in the ATMs.
@@wanderingsoulvikram1746 ya ! some people say that it was done by Ambani (who apparently is the actual person ruling BJP) in an effort to whitewash the Black Money & also later on the internet also helped to spread Misinfo & False Info by the party throughout yhe country 😂 which contained 50% Islamophobic News + Pak/China Hatred (Exaggerated Truth < False) 25% Troll against other parties & 25% Fake Achievements by the Government 😂🤦🏻♂️ (The percentage is taken from an article i red which even got that during Pandemic outta 100 debates 90% were done on SSR & rest 10% on Hindu-Muslim !)
@@theroaster2562 sabse zyada shocking cheez yeh hai ke 21st century me bhi hindu-muslim ho rha hai yaha…aur halat yeh ho gyi hai ke aap govt ko criticize nahi kr skte…
@@wanderingsoulvikram1746 so true bro, Nafrat Bhot bdhgyi hai... Sometimes i think ki kese agar koi Government k against bole to log bolte h "isne Foreign s funding li h", but the way Ruling Government leaders spread HATR i feel like they're the one who're getting paid by other countries to spread communal hate & tension between different communities so that country becomes unstable
Demonetisation brought my attention to politics like never before. I was an unbothered kid who didn’t care about politics, but demonetisation made me start looking at politics more closely. Money-wise no one in my family suffered because none of us had kept cash ever. I had like some 1500₹ to exchange
@Abhay Rajput you really need to improve yourself because I was also same as you or even worse I used to hate muslims alot but I matured later on and saw things with unbiased eyes
Yeah! That's a good explaination of all of it. It was a good measure on paper in that it would have removed a large amount of black money stacked in the form of cash and fake currency in circulation. But the botched implementation led to a shortage of cash which meant that PEOPLE COULDN'T EXCHANGE ALL THEIR CASH (OLD NOTES) WITH NEW CASH NOTES as there was not enough new cash to go around for everyone. As a result, consumer spending went down which had an adverse effect on the economy.
@@vamshis1756 Well it would mean only demonitising once the govt could replace all the money that would need to be exchanged before announcing the devaluation by Printing enough new cash. And also thinking of ways/loopholes in the banking system that could allow the black money holders to exchange their money by bribing the bank branch managers and officers to use these loopholes and facilitate it as it did happen. Then it would have been a success. As there would be no cash shortage and so people could just go to banks and get all their money exchanged in just a few trips. So it wouldn't effect consumer spending and thus our economy would be fine. Or better yet, they could simply have announced that anyone can exchange all their black money by giving 35-40 percentage to govt. as they should have as income tax in the first place. And that way they will no longer have to worry about hiding their black money and potentially going to Prison.
@@gopaljigupta5158 ok, so let's say they started printing new notes way ahead, it takes at least 3-4 months to print just enough notes to last a couple of weeks of exchange, in the meantime do you think the information is not going to leak out, and after it does, don't you think the people with black money would anticipate the ban and do whats needed to protect their cash, the loopholes are not loopholes they are crimes, taking bribes is a crime, if a bank manager is caught with evidence he is done. consumer complaints about any new system introduced no matter how good the system is, as people are used to the existing system and reluctant to change and learn any new system. as far as black money is considered, people who have to pay that 40% as income tax are not paying hence it becomes black money, our tax slabs are one of the highest for the rich, so for a guy who maintains 100cr of black money, he has to pay 40cr as tax. if people were so willing to pay huge taxes, we wouldn't have black money at all, it is because of the greed of people to save money by not paying tax we have the issue of black money. this greed applies to all, even the common man, who wants to show a reduced price of the land he is buying to reduce the amount of tax e needs to pay.
@@vamshis1756 Taking bribe is a crime, yes. But how did the bank managers and officers exchange these large sums of money?? If it weren't for some loopholes, the bank managers would have got caught. And yes, you're right it would have taken a very long time to print enough cash. But doing it without taking these steps was extremely careless. And don't tell me that the govt could not keep a tight lid on this. Many governments around the world have conducted many operations in secret which remain that way because of high security and extra care taken. But even that wouldn't be necessary. The government could just have announced that they are printing new notes for security without mentioning demonetisation at all. Many countries change their notes design from time to time for security. Then once they had enough, DEMONETISE. And I am talking about the black money holders having the option of paying the government a piece of their fortunes instead of paying the bribes to bank officers which amounted upto 30 to 40 percent of their money. That money could have gone to the govt instead.
@@vamshis1756 you act like the government can't handle a little secrecy. You do realise the current regime managed to hide employment data so that they don't face any flak from the public? They could've easily managed to keep demonetization plan a secret
The only family who had no effect of demonitisation is our's. We are under very big debt, we had no to little cash in hand. So no effect of demonitisation. 😂😂😂
The only good thing about demonitisation was it forced people to explore digital transactions. I never thought that i will pay to any of my small local shops via my phone so soon.
The only good thing about British rule was it built railways in India. Lmao many country has railways and digital transactions without British rule and demonetisation. Hope this helps.
@@kumaripriyanka6637 exactly..many people died...so many people were made to queue up for days...and here people are happy for upi...that could have been without demonetization.
Due to democratization, upi payments or digital payments is a big thing in the country. It just shifted people immediately, which would have taken years or a decade or more.
UPI or digital payments were a hack/solution to this fuckall situation created by this horrible planning and implementation. That wasn't the intent of it, please stop being this blind.
@@NoVideo2024 in the country?Whole world have changed to online banking and crypto and it got nothing to do with demonization.Moreover only 10% of indian use online banking govt data 2019.
@@gagan77100 bhai....2019 aur 2022 mai frk h....aur india mai...hr ek din mai....41million mtlb 4 crore 10 lakh transaction ho rhe h....In financial year (FY) 2021-22, payments worth $1.09 trillion or approximately Rs 83.45 lakh crore were processed through the Unified Payments Interface (UPI)....source:-times of india
It was one of the worse times for me just a day b4 on the 7th Nov we found out Dad is suffering from Stage 3rd Leukemia and just as we were arranging funds for treatment on 8th this happened... there was chaos at Hospitals as ppl don't know what to do and Cashier was just not accepting old notes as they were not aware of the new guidelines.
One correction: People didn't lose money because that denomination was banned. We just needed to get it exchanged for other valid denominations from banks which caused a lot of problems among the general public. We also could use it for payment of essential services like fuel, medical services etc. (for a period after the announcement was made)
@@HarshSharma-wv6gi yes ofc black money tha toh loose hoga... Anything that was unaccounted for voh loose hoga hi.... And if u are smart you know that was the whole purpose of demonetization
Demonetization was poorly executed period. The idea was good though. For some period before demonetization the gov gave this deal where if you bring in your stacks of currency you have been saving on which you didn't pay tax you would just pay tax and you can make it all legal. The idea was to get people who are hoarding money in beds and sofas to put it in bank. Also counter black money/corruption.
Was it a good idea? Imagine you have some bad blood. Is it worth taking all the blood out of your body and then pumping it back in drip by drip? It killed off major chunks of the economy permanently. Small and medium businesses I personally know shut down and never reopened. It is impossible for any country to implement this idea- remove all currency and reprint new notes immediately. NO country can. Its the sort of stupid idea, idiots think is intelligent.
I m not a modi supporter and I experienced the whole demonetization time (2016) and idea was really nice and practical just planning of implementation was terrible so people suffered
@@maramnikhilreddy424 India is very different from the world , very low percentage of people pay taxes in our country. Accumulation of black money is very easy in India.
12:18 AntiModi person instantly gets labelled as anti india. Yes you're right Jaby it's like Anti Trump people getting labelled as anti America and anti Christianity. Politicians with cult fan following are the most unfortunate aspect of humanity in big 2022.
There r ppl who defame india and hindus while defaming modi. Questioning uri surgical strikes and balakot pulwama where many blamed modi are the big example. So many examples. Farm protests turning anti india pro khalistani in some parts. JNU slogans of breaking india. Ppl who say Kashmir is not india like arundhati roy and other communists like her. I can go on. If this is not anti india then what id
Demonitization taught me never keep money as Real cash. Keep the money as digital forever. I stopped Bulk money (RS. 2000)withdrawal till now. dont want suffer again Under the rule of Currency maker over night.
Digital money comes with risk, one day the government could come up with a bill and seize all your money in literally a second, what would you do then? Or if the bank goes bankrupt where is your money? They can also trace everywhere your money goes if it’s digital.
@@mahfuj_sheikh but on the other hand government can directly seize your cash from your banks.... Or even force another demonitisation.... Digital money is overall safer if the person have basic information about the internet with some precautionary knowledge
@@sahilsingh6782 there is no physical cash in banks LOL did you think banks hold your account balance in physical cash? I never said keep your money in banks in fact I said the opposite, what’s the difference between a physical bank and “digital bank” both are digital. Your money is immediately invested by the bank. If you want the safest way to keep your money then convert it to dollars or British pounds and keep the hard physical cash inside your house. If you want the “easiest” way to access your funds then digital is the way but in no way is it ever the safest.
AIB content was/is very underrated, their content was so good and always had a message. But India can't handle such satirical stuff, especially the older generation. Maybe if they had handled things better they would still be making new content, but the current political situation would just skew whatever they did and bring religion and other toxic stuff into it.
Indian economy is still recovering from this blunder called Demonetisation. After an Right to Information query it was found that no other ministry was taken into consideration for making the decision
13:22 the 60 years remark isn’t fictional. BJP/Modi keeps saying that the country gave Congress 60 years and how can he reverse the damage caused by them in 4 (1 term) or 8 years (2 terms).
The soldier thing is so stupid yet so relatable. Whenever me and my bhakt friends would argue or discuss about demonetisation they would bring it up. My father passed out while waiting in one of those lines and it was a major health scare for our family. Demonetization was one of the stupidest thing that this govt did. And the funny thing is AIB isn't even exaggerating with this videos. Bhakts literally defended the govt with these statements.
Modi shifted goal posts many many times during Demonetization. But I feel that the actual goal was formalization and digitization of our economy and it has been achieved to a large extent. Formalization and digitization sounds to nerdy, so getting rid of 'black money' and 'fake notes' was the popular slogan back then. Also when this was done only 40% or less of Indians had bank accounts, demonetization forced people to open bank accounts in order to exchange money. This helped govts for efficient welfare distribution as money would go directly into accounts with minimal corruption. For example; there is a scheme where people get some money from the govt to build a toilet in their homes, earlier the money would be given in cash and the local govt guy would eat some up. Now it goes directly to to accounts and the money can only be used for building a toilet and nothing else. I am not saying that there is zilch corruption in welfare schemes now. But efficient welfare is one reason why modi wins. One can't label everyone as 'bhakts'
sure. Let's thank the britishers too because who cares what they did but they gave us trains and cricket. Who cares if a few people died, right? Lol. In the end their sacrificed themselves unwillingly for the nation. Classic bhakt logic🤣🤣🤣
That was a bad decision taken by the government. I don't think like people died but many suffered a lot at least for a couple of weeks. The only good thing came out of such a struggle is half of India went on to become digital. That has fast forwarded India and the overall trade inside the country. Right now, even an illiterate peanuts selling guy on road-side has a QR code, where I can buy and send him 0.1 dollars in a second.
I think almost all the circulating notes came back to banks and got converted to new notes. Nation realised that perhaps real black money is kept as gold and land property and not in currency notes. 🤔
@@escapistreader3860 yes. Actually not just bkack money but it was targeted on circulating fake currencies and many of them also must have reached banks because common people cannot identify them.
4:40 I remember standing for hours in line just to get to the front of the line and the bank would close. Then you have to come back again. Im so glad my landlord worked with us so we can figure out the rent payments. It was a big mess.
I would like to explain about Modi and Anti-Modi. Modi has taken some good decisions for the country and as well as some bad decisions too. But the reason why people support only Modi and are hardcore about it because, if not Modi, the opposition party is wanting Rahul Gandhi to become the PM. Rahul Gandhi is this kid who doesn't know anything about development, politics or foreign affairs. He is just the puppet his mom wants to control. So people are really really scared of him becoming the PM. Hence the immense support for Modi.
As you already have anti modi is anti Indian. People have forget that criticizing Indian government is not criticizing the country. People are blind. Controlling party and the country are different entities. If people questions modi it doesn’t mean they don’t respect and love their country.
Love you AIB 🥺❤️ Nobody could match you in comedy, satire, raising great issues and great observation in small things. Saying again that you were ahead of time
In hindsight one consequence that happened due to this mess was the Indian society transitioned to a cashless society, atleast for the young population. India had almost twice the number of transactions online compared to China last year and it growing. I was pleasantly surprised when I visited india last year after 2 years was that even the small tea shop or a fruit vendor will have a QR code to send money. Actually several companies are trying to occupy this space such as paytm, amazon pay, gpay, upi, bhim. Also to be honest covid helped in that case as well since people didn't want to touch money anymore. In a few years I am pretty hopeful India will go completely cashless. Also it's already in the pipeline that you can pay with your fingerprint without needing your phone as well. This does infringe upon the data privacy rules. There has been tremendous debates about this in the parliament, but I guess it may help the elderly for whom mobile might not be that easy to operate, but I would be afraid for my biometric data. But if the government can guarantee and design secure services that the biometric data won't be accessed by 3rd parties or won't be used by other government agencies, I think this would be a welcome step towards a cashless future.
As a wealthy South Indian, everyone I know including me has untaxed "black" money. Its the nature of the Indian economy. And everyone I know, including me, turned it white as soon as this happened. We were all trading tips. And the funniest part? Everyone I know supported this, because everyone thought it would catch the people richer than them, while they themselves found a way around it. All it did was hurt the poorest who couldn't find a way around it. And crush the economy.
I really appreciate to our govt have guts to taken this step bcos if they not do that so our nation not Shifted to digital methods at skyrocketing speed so tum joh marji socho it's a fact ki abh saare digitally shift ho chuke hai 370, demonization, CAA, And Road & railway infrastructure in these scenarios govt never disappointed my family soo hope they keep it up
11:56 Nope, It Did Not work. Black Money is still there as it was. Rather... Ok when you get time Syntel ji then do Google what affects did demonitization had on India? And Google did demonitization got black money out? Also question Who profited from demonitization? Who suffered from demonitization?
It was one of the best step by the govt. all the black money vanished also the currency which was illegally transported from one country to other also stopped
We miss to notice whats happening to our Country! Recent Data & situation of our country. 1)Jet Airways closed. 2)Air India in Rs 7600 crore loss. 3)BSNL 54,000 jobs in danger. 4)No money to pay salary to HAI employee 5) 1 million to be laid off in auto industry. 6) 12.76 lakhs house unsold in 30 major cities. 7)Air cel is dead. 8) JP group finished. 9) Postal department loss 15000 crores. 10)Most profitable company of India ONGC is now in loss. 11) 36 largest debtors missing from Country. 12) 2.4 Lakh crore load waive off to few corporates 13) PNB continous losses 14) All banks incurring huge losses. 15) External Debt on country 500+ Billion Dollars. 16) Railways on sale. 17) Rent heritages including Red Fort. 18) Largest Car maker Maruti cuts production. 19) Rs 55000 crores car inventory lying at factories, with no buyers. 20) Builders all over stressed. Some commiting Suicide, No buyers construction stopped due Mat cost rise (GST@ 18% to 28%) 21) Millions umemployed due to demonetization. 22) Highest unemployment in 45 years. 23) 5 Airports sold to adani. 24) Higest domestic stagflation 25) Vediocon bankrupted. 26) Tata docomo perished. 27) CCD founder VG siddarth suicide due to huge debt. 28) Record HNI individuals leaving India. Note: Nothing is shown in media. Recession is on the way
Many may say that demonetization was bad but personally I think it was a good policy but it's implementation was bad just like GST. But as a by product of all this a very large amount of Indian moved to online transaction. UPI, Bhim all these were launched by government and it really succeeded in its mission. Now even a small vegetable vendor have UPI account. If that not happened, I think we will be left out in that race of online transaction. Now crypto is not that alien concept to us. Just recently India achieved an amazing record of doing $1 trillion transaction. Is not this good.
It wasnt a good policy because it couldn't be implemented properly. This is like saying me flying like Superman is good policy but it couldn't be implemented properly. The by products weren't even the core reason for this so using it as a plus point is also wrong. Its like saying my house is more secured because I bought bigger locks after burglars robbed it. Demonetisation was a failure, there's no two ways about it. And with the new policies the government cooked up for crypto, it has no chance in the Indian market. They took out the independence from it.
Modi shifted goal posts many many times during Demonetization. But I feel that the actual goal was formalization and digitization of our economy and it has been achieved to a large extent. Formalization and digitization sounds to nerdy, so getting rid of 'black money' and 'fake notes' was the popular slogan back then. Informal economy is a third world problem which you might not get, google it. Also when this was done only 40% or less of Indians had bank accounts, demonetization forced people to open bank accounts in order to exchange money. This helped govts for efficient welfare distribution as money would go directly into accounts with minimal corruption. For example; there is a scheme where people get some money from the govt to build a toilet in their homes, earlier the money would be given in cash and the local govt guy would eat some up. Now it goes directly to to accounts and the money can only be used for building a toilet and nothing else. Btw even earlier anyone who disagrees with the govt of the day in India would be called anti- india. This isn't a recent phenomenon.
Demonetization was an event where all the notes of 500 and 1000 value were declared invalid, this was done in an effort of getting rid of black money but in turn was such a bad move that took a toll on indian economy and fuelled hated towards Modi Government👍🏻
@@sah1372 it's not call adopting people didn't even had an option. I remember the only ad that was running at the tv was just paytm karo. It was the demonitization that helped paytm ro get so successfull and the government which helped to advertise them and the government itselves had a massive stake in the company. And if you remember the whole paytm scaming happened after demonitization.
@@jamalafroz7211 whatever either they get forced or not but digital economy is best and you can't hide your money if transaction is digital! India is 1st country which have such big digital payment infrastructure!
My shopkeeper was willing to take money in advance as he was smart enough. Because only in exchange there was queue, not in depositing to bank and in India everyone have bank balance even the poorest with 0 balance account is fine in India. Now we trust digital more than cash. You lose some, you win some. I thinking it's revolution of Indian traditional state of mind towards digital era.
you know india is the country with the highest digital transactions and plastic money, thanks to demonitization, yes it was a good policy but was too poorly enacted, it happened when modi became PM for the 1st time just 2 years into being PM and did this, situation has bettered from that now
@@physco4641 UPI , bhim all these were launched by government which shows that they planned something and even if that was not the intention but they find something good amid all that bad crisis.
It's fukcing biggest disaster in India. It reduced India's GDP by 2% Millions Jobs lost Small factories got shut due to lack of circulating money People died on streets Bank employees were under severe stress working day and night People slept hungry, died hungry. What happened? 99.6% got back in circulation Remaining was due to Nepal, Bhutan's Indian currency n some miscellaneous not deposited money. Millions were saved by spending billions dollars for printing new money, ATM calibration for new notes, bank staff extra salary etc etc. Monetary value for time lost of people standing in queue in scorching heat is unimaginable. Genius, Isn't it???? Who gains? Ruling party buy land in every corner of India for their offices just before demonetisation. Millions of unaccounted money got deposited in a bank related to Home-Minister. All black money got legalised. They were changing goalpost for demonetisation from ending black money to fighting terrorism to fighting naxalism. None of the above achieved. Common people suffered at the cost irrational decision by our beloved PM which was opposed by our Reserve Bank Of India's Governor, due to which he resigned citing personal reasons. One irrational mindless decision by one man who is not competent authority on the subject ruined India's economy, Ind still not recovered from this senseless decision yet. Anyone who questioned decisions declared anti-national by supporters of modi. Not seen a single rich man in a queue. All poor people suffered, lined up to get their own money in a small installments. No one utter a single word, neither people who were suffered voted out the Modi because they are happy with his populist majoritarian autocratic policies. Welcome to 'New' India Jaby We are bunch of intolerant tribe now who feel threatened by our minorities. They are our (fictional) enemy now.
The way Jaby dodged bullets by not saying anything about Modi or BJP on this one to not get boycotted by bhakt subscribers is commendable. One thing he has realized is to always praise India no matter what and brainless bhakt zombies will follow him till the end times.
Yeah Afterall going against Modi or speaking anti india would just make him loose followers who are mostly indian so ig that’s his reason for being biased
People were not standing in queues for exchanging the notes, but there was a limit on withdrawal because continuously ATMs and banks were kept running out of cash, and people didn't have money to spend...
@@anuragsharma1993 as if ambani was nowhere Before 2014... They were already crazy rich Before Modi... This point that modi does everything for ambani and Adani is completely illogical due to many reasons but it will waste my time telling them so yeah....
At the time there were no government approved digital payment options such as Bhim/Upi. people were forced to subscribe to private payment partners such as Paytm, who were openly in alliance with the ruling party. transactable money was not available for weeks. it mostly affected the daily wage earners and poor. Have seen a lot of businesses bankrupt at the time just as currency was not available. Not everyone had a smartphone with internet, to adopt Paytm. It was a political tool used for elections, as are many "master stroke" decisions. because elections usually would see parties paying people for votes in cash( an unfortunate truth for many political parties). At the time only one party had money, so it's easy to see who won. As for the middleclass and upper middle class, it's impact was minimal. Those who had black money were allowed to convert all to white, without any history or trace. it did drive the economy down during the immediate period whose effect lasted for a few months. You may see hate comments below (both political and religious attacks). As a political analyst you know where it would come from. politically it was a genius strategy.
@@vamshis1756 banks implemented qr code scanning and upi payment by December the earliest being SBI. it existing in April and noone being able to use it doesn't make it useful during demonatisation
@@jijogorgeraj ok, even with that being done in December, it was the go-to alternative to cash when the exchange was stopped in December. demonetization drove people to accept UPI, this was more effective with small vendors which bought brought them into the organized sector
@@vamshis1756 hence my point brother. UPI should have been established by banks before demonatisation. then it is justified. easily would be able to move to digital transactions without the suffering.
@@jijogorgeraj sure maybe, it wouldn't be much effective, as we had wallet payments for years and only a very small % used it, and banks would not have voluntarily taken part in it, demonetization pushed UPI into overdrive and forced the banks to enroll as they were also impacted by demonetization.
No the notes were changed but as it was a new currency so there were not enough bills to swap with and if you have a lot of money which you will be asked a lot of questions
I was a massive bhakt at that time. I used to think that these people are anti nationals. I thought at that time that the deaths are lies told by the opposition party. And I would've been a bhakt till today if there wouldn't be the religious angle
Now please react to Kunal Kamra's "soldiers are fighting on border" stand up routine to completely understand this video. It's hilarious and highly controversial.
There's already a reaction video on that. Achara did it with some guy. Ended up drawing lot of flak and abuses bcz according to people they reacted to someone who is anti Indian and anti Modi.
Voh toh uselss insaan hai modi ke naam pe khudka ghar chala rai voh bhi ni chalega ab.. Kyuki modi ka fan folowing badhte jarai and people are really starting to realize how big of a afool they were before
Hilarious 😂 also please react on some kamala Harris and Joe Biden memes or their speeches. I watched a few yesterday and wow!! They are going to make your day 😂
Guy in the radio was representing Narendra Modi. And it was absolutely correct because they were changing rules and the reason why they've done it were changing everyday. And our government was keep asking for more time to reduce the damages and run the operations smoothly
Yep, most of this was true. The only upside to demonitization was that, people started using online money and moved towards online transactions. This, again, benefited the telecommunications markets (Jio, a Modi project). But who is keeping tabs?
Really do you only use jio ? Jio money came way later dude . Ambani se chidte toh aise ho jaise modi se pehle tum usey khana khane k paise dete the . Woh pehle bhi indias richest man tha .
Jaby educate yourself before uttering rubbish - Stick to mindless bollywood before going off on politics. Anti Modi isn't Anti Indian . But Anti-Indian are definitely Anti-Modi. Know the difference
Bjp and Muslim league are basically feeding each other. Competition is good for extremists to radicalize their own people. Some anti Indians are pro modi.
I personally feel individual debt is increasing after monetization because now we have 2 mediums to pay...cash and digital..it's difficult to maintain Balance between them and it is leading to overspending
People were given I guess 3 days to exchange their old currency with banks or deposit it in bank account.. This way all unaccounted cash came into picture and govt came to know about non Income tax filers as well
AIB was ahead of its time so they were punished and eliminated Later few more comedians tried to do political satire like munawar And you know what happened to him So just leave this genre in India people will not understand this By the way political satire and dark humourous jokes are my favourite
We did not have That much big currency so in 2days we exchanged them all haha😁 but modi government was first time in power with full majority they are bound to make mistakes their execution of plan is great but they can't follow through it still atleast they are improving with every mistake that's their BEST SELLING POINT.
From the general view demonetization was about curbing black money outflow and counterfeit money. Which obviously didn't work in that manner. From my perspective it was to give it's opposition party a blow, since money/fiat boarding is common here.
@@modithewokebutcher.9855 bro comeon u just can't justify all the trouble people had to go thru and u justify by saying he promoted upi.. USA and Germany and many other countries already had paypal and other money transferring apps without this masterstroke.
Pakistan was running a whole new business of duplicate indian currency. The designs were so old amd leaked that duplicate currency and original currency were very difficult to recognise by the experts also. This duplicate currency gave rise to terrorism and illegal activities. So what wd u do? I think it was a good decision and considering the whole big ass country that we are, implementation was not too bad. Also govt easily pushed digital india plans under this and UPI bhim became a true success. Today online digital transactions on UPI via paytem, google pay, phone pe is more than 1 billion transactions daily. Every vendor, everyone is using digital money amd wallets. Do u think it all happened just like that. Govt created a cashless situation. It forced all of us to go digital. It was a bold move ,considering elections in 2019. Modi got a landslide victory again in 2019shows what country thinks abt him. Well did people not suffer? Ofcorse people suffered. I stood in lines 200m long ,that too in delhi. Bt after 1st week , the situation started relaxing every day. By the end of 1 month, only those people were worried who had loads of cash and couldn't exchange without income tax dept investigation. In the end, it was a great experience and we as a country adapted to it pretty well and look at our cashless digital transactions today. RBI is now allowing cash withdrawal using UPI from atm. Cardless and cashless ,truly digital.
That was exactly Demonetisation. In terms of people dying Demonetisation was worse than Deepwater Horizon 🔥 But India has now came out of that miserable situation...
@@NoVideo2024 what can you expect from a choot who watches druve tatti's videos.. .. thodi der baad boley ga ..uski ma ka rape bhi huwa tha bjp ke workeron se.
People does not lost money (except maybe those who were hoarding a lot of cash in their home) .They just needed to exchanged the old bills to the other running bills in the bank until the last date given.
As a banker, it was the toughest days of my career. Each day there were new roles and limits. Currency wasn't available and it was a lot because you had to manage some really frustrated public whose plight we understand but there is nothing much you can do. I am surprised they included the ATM slot not being made for the new notes. That problem has not been solved completely yet.
My father is a banker...I 100% agree with your viewpoint :(
No matter what Modi supporters say, demonetization was an absolute disaster.
@@ajatmitra9495 i hated demonitization at start but it is the biggest reason UPI came in picture and now we have one of the best online payment system in the world
@@friendlyatheist9589 UPI could have been introduced without doing demonetization. Upi is hit because it's easy to use not due to demonetisation
yeh hi toh baatein baad mai yaad ayengi
that bit in the starting where tanmay gives a 5-month salary to his servant was not even a joke many people did that to get rid of those notes, what a time that was sheesh
Kis ko mili esi salary ....kuch bhi
@@ashishnegi5360 I am late but everywhere especially rich shopkeepers .
Good Old Days When AIB Existed.
Miss You AIB.
What happened to them?
Only stupidos miss aib
@@suryaprkash They made fun of Christianity and they were forced to shut down ... Also one of their members were involved in Rape
But ab AIB jesa koi bhi chann bn na impossible hai…bcz Ban ho jaega
@@wanderingsoulvikram1746 Yeah Exactly.
Context: Govt decided to ban denominations of Rs 500 and Rs 1000 and introduced new Rs 500 and Rs 2000 currency notes so that people who have stashed crores of rupees as black money in their homes will not be able to exchange them with new notes. But they failed so bad in implementation that these people who had black money comfortably exchanged the black money using their connections in banks(usually giving 30% commission to bank officials) whereas the common man suffered due to low availability of currency in the market and in the ATMs.
Dont forget launch of Jio
@@wanderingsoulvikram1746 ya ! some people say that it was done by Ambani (who apparently is the actual person ruling BJP) in an effort to whitewash the Black Money & also later on the internet also helped to spread Misinfo & False Info by the party throughout yhe country 😂 which contained 50% Islamophobic News + Pak/China Hatred (Exaggerated Truth < False) 25% Troll against other parties & 25% Fake Achievements by the Government 😂🤦🏻♂️ (The percentage is taken from an article i red which even got that during Pandemic outta 100 debates 90% were done on SSR & rest 10% on Hindu-Muslim !)
@@theroaster2562 sabse zyada shocking cheez yeh hai ke 21st century me bhi hindu-muslim ho rha hai yaha…aur halat yeh ho gyi hai ke aap govt ko criticize nahi kr skte…
@@wanderingsoulvikram1746 i agree so much with that last statement
@@wanderingsoulvikram1746 so true bro, Nafrat Bhot bdhgyi hai... Sometimes i think ki kese agar koi Government k against bole to log bolte h "isne Foreign s funding li h", but the way Ruling Government leaders spread HATR i feel like they're the one who're getting paid by other countries to spread communal hate & tension between different communities so that country becomes unstable
Demonetisation brought my attention to politics like never before. I was an unbothered kid who didn’t care about politics, but demonetisation made me start looking at politics more closely.
Money-wise no one in my family suffered because none of us had kept cash ever. I had like some 1500₹ to exchange
Your Attention to politics was way too costly for whole country.
Andh Bhakt Spotted!
Andh namazi spotted
Andh namazi spotted
@@jarp5581 Go buy some brains
I love how Jaby has reached a stage where his 'bastardized' understanding of Indian stuff is 100% accurate.
100% accurate? 😂😂
@@mast420kalandar bhai ye nibba hai 😂😂
@@karundutt2419 or tu bhakt?
@@k4ihacceptthetruthevenifyo208 yes bruh i am ram bhakt . Jai jai shree ram
@Abhay Rajput you really need to improve yourself because I was also same as you or even worse I used to hate muslims alot but I matured later on and saw things with unbiased eyes
Yeah! That's a good explaination of all of it. It was a good measure on paper in that it would have removed a large amount of black money stacked in the form of cash and fake currency in circulation. But the botched implementation led to a shortage of cash which meant that PEOPLE COULDN'T EXCHANGE ALL THEIR CASH (OLD NOTES) WITH NEW CASH NOTES as there was not enough new cash to go around for everyone. As a result, consumer spending went down which had an adverse effect on the economy.
what would you think a good implementation would be
@@vamshis1756 Well it would mean only demonitising once the govt could replace all the money that would need to be exchanged before announcing the devaluation by Printing enough new cash. And also thinking of ways/loopholes in the banking system that could allow the black money holders to exchange their money by bribing the bank branch managers and officers to use these loopholes and facilitate it as it did happen.
Then it would have been a success.
As there would be no cash shortage and so people could just go to banks and get all their money exchanged in just a few trips. So it wouldn't effect consumer spending and thus our economy would be fine.
Or better yet, they could simply have announced that anyone can exchange all their black money by giving 35-40 percentage to govt. as they should have as income tax in the first place. And that way they will no longer have to worry about hiding their black money and potentially going to Prison.
@@gopaljigupta5158 ok, so let's say they started printing new notes way ahead, it takes at least 3-4 months to print just enough notes to last a couple of weeks of exchange, in the meantime do you think the information is not going to leak out, and after it does, don't you think the people with black money would anticipate the ban and do whats needed to protect their cash, the loopholes are not loopholes they are crimes, taking bribes is a crime, if a bank manager is caught with evidence he is done.
consumer complaints about any new system introduced no matter how good the system is, as people are used to the existing system and reluctant to change and learn any new system.
as far as black money is considered, people who have to pay that 40% as income tax are not paying hence it becomes black money, our tax slabs are one of the highest for the rich, so for a guy who maintains 100cr of black money, he has to pay 40cr as tax. if people were so willing to pay huge taxes, we wouldn't have black money at all, it is because of the greed of people to save money by not paying tax we have the issue of black money. this greed applies to all, even the common man, who wants to show a reduced price of the land he is buying to reduce the amount of tax e needs to pay.
@@vamshis1756 Taking bribe is a crime, yes. But how did the bank managers and officers exchange these large sums of money?? If it weren't for some loopholes, the bank managers would have got caught.
And yes, you're right it would have taken a very long time to print enough cash. But doing it without taking these steps was extremely careless.
And don't tell me that the govt could not keep a tight lid on this. Many governments around the world have conducted many operations in secret which remain that way because of high security and extra care taken.
But even that wouldn't be necessary. The government could just have announced that they are printing new notes for security without mentioning demonetisation at all. Many countries change their notes design from time to time for security. Then once they had enough, DEMONETISE.
And I am talking about the black money holders having the option of paying the government a piece of their fortunes instead of paying the bribes to bank officers which amounted upto 30 to 40 percent of their money. That money could have gone to the govt instead.
@@vamshis1756 you act like the government can't handle a little secrecy. You do realise the current regime managed to hide employment data so that they don't face any flak from the public? They could've easily managed to keep demonetization plan a secret
The only family who had no effect of demonitisation is our's.
We are under very big debt, we had no to little cash in hand. So no effect of demonitisation. 😂😂😂
sheesh man the world is a grim and miserable place indeed. Hope you come out of debt soon
I Feel for u dude, but sorry but only unaffected family was Ambani's😀😀🤣
The only good thing about demonitisation was it forced people to explore digital transactions. I never thought that i will pay to any of my small local shops via my phone so soon.
Ya definitely 👍 same here
those who compare their Pulsar Bike with someone else's Apache suddenly become optimistic when its about the ruling party 😂 (joking huh bro, chill 😁🥂)
Great point... That UPI is so awesome and easy.
The only good thing about British rule was it built railways in India. Lmao many country has railways and digital transactions without British rule and demonetisation. Hope this helps.
@@kumaripriyanka6637 exactly..many people died...so many people were made to queue up for days...and here people are happy for upi...that could have been without demonetization.
Due to democratization, upi payments or digital payments is a big thing in the country. It just shifted people immediately, which would have taken years or a decade or more.
UPI or digital payments were a hack/solution to this fuckall situation created by this horrible planning and implementation. That wasn't the intent of it, please stop being this blind.
no buddy don't say that or else you will be labeled as Bhakt or Ambani's agent.
It's like saying the good thing out of burglary is that people bought locks for their house.
@@NoVideo2024 in the country?Whole world have changed to online banking and crypto and it got nothing to do with demonization.Moreover only 10% of indian use online banking govt data 2019.
@@gagan77100 bhai....2019 aur 2022 mai frk h....aur india mai...hr ek din mai....41million mtlb 4 crore 10 lakh transaction ho rhe h....In financial year (FY) 2021-22, payments worth $1.09 trillion or approximately Rs 83.45 lakh crore were processed through the Unified Payments Interface (UPI)....source:-times of india
It was one of the worse times for me just a day b4 on the 7th Nov we found out Dad is suffering from Stage 3rd Leukemia and just as we were arranging funds for treatment on 8th this happened... there was chaos at Hospitals as ppl don't know what to do and Cashier was just not accepting old notes as they were not aware of the new guidelines.
your "bastarized" understanding of things is spot on Jaby! 😂
Considering both the merits and demerits of demonetisation, the demerits outweigh the merits. The project was largely a failure
okay bro
Online transactions ???
@@jarp5581 China has 100% digital currency everywhere without going through an economic turmoil.
@Abhay Rajput I'm saying "economic turmoil", smart kid.
@Abhay Rajput Chup chutiye... You will decide what others should or should not feel...
One correction: People didn't lose money because that denomination was banned. We just needed to get it exchanged for other valid denominations from banks which caused a lot of problems among the general public. We also could use it for payment of essential services like fuel, medical services etc. (for a period after the announcement was made)
Many people did lose money, u just don't know
@@HarshSharma-wv6gi yes ofc black money tha toh loose hoga... Anything that was unaccounted for voh loose hoga hi.... And if u are smart you know that was the whole purpose of demonetization
I also got chip in my 2000 rs note, So I can track my money. Kya bhagwan ka banda hai Modi.
@@HarshSharma-wv6gi are they do know, smjha kro yaar 😉
@@lonewolfe2502 ikr ! russian mob ka Black Money to khud Amit Shah Ji ne zapt kia 😌🥂 BJP Leaders are DemiGods tbh
Demonetization was poorly executed period. The idea was good though. For some period before demonetization the gov gave this deal where if you bring in your stacks of currency you have been saving on which you didn't pay tax you would just pay tax and you can make it all legal. The idea was to get people who are hoarding money in beds and sofas to put it in bank. Also counter black money/corruption.
Was it a good idea? Imagine you have some bad blood. Is it worth taking all the blood out of your body and then pumping it back in drip by drip? It killed off major chunks of the economy permanently. Small and medium businesses I personally know shut down and never reopened. It is impossible for any country to implement this idea- remove all currency and reprint new notes immediately. NO country can. Its the sort of stupid idea, idiots think is intelligent.
Idea is good??? Is it though???
@Abhay Rajput yeah I wonder that too.
Good reaction... There might be hate coming your way..... just ignore it.
Yes, ham to sahi hote Hain log galat hote hain
@@pixelsoflife726 🔥🔥👌
The bank staff, middle and lower class people had to suffer the most during demonetization.
Rich people also bought gold in droves to safeguard their investment, only middle class suffered in this idiotic move
I m not a modi supporter and I experienced the whole demonetization time (2016) and idea was really nice and practical just planning of implementation was terrible so people suffered
No world renowned economist supported it.
@@maramnikhilreddy424 world renowned economist dont live in india i live and many people live dont support govt when they r wrong
What if they announced demonetizatiob before implementation... it'll good or bad??
@@maramnikhilreddy424 India is very different from the world , very low percentage of people pay taxes in our country. Accumulation of black money is very easy in India.
You need education then
12:18 AntiModi person instantly gets labelled as anti india. Yes you're right Jaby it's like Anti Trump people getting labelled as anti America and anti Christianity. Politicians with cult fan following are the most unfortunate aspect of humanity in big 2022.
Oh look who is talking 😂😂. Do u want some more reservation bheemte ???😂😂
Why are u guys fighting, it's not the jedi way
@@karundutt2419 I am Brahmin and what you said was bad ...
Point is that not every modi supporter thinks that every modi opposers are anti india
There r ppl who defame india and hindus while defaming modi. Questioning uri surgical strikes and balakot pulwama where many blamed modi are the big example. So many examples. Farm protests turning anti india pro khalistani in some parts. JNU slogans of breaking india. Ppl who say Kashmir is not india like arundhati roy and other communists like her. I can go on. If this is not anti india then what id
If people like Rana Ayyub u call as Pro India.
Then i am going to have problem
Demonitization taught me never keep money as Real cash. Keep the money as digital forever. I stopped Bulk money
(RS. 2000)withdrawal till now. dont want suffer again Under the rule of Currency maker over night.
Digital money comes with risk, one day the government could come up with a bill and seize all your money in literally a second, what would you do then? Or if the bank goes bankrupt where is your money? They can also trace everywhere your money goes if it’s digital.
@@mahfuj_sheikh but on the other hand government can directly seize your cash from your banks....
Or even force another demonitisation....
Digital money is overall safer if the person have basic information about the internet with some precautionary knowledge
@@sahilsingh6782 there is no physical cash in banks LOL did you think banks hold your account balance in physical cash? I never said keep your money in banks in fact I said the opposite, what’s the difference between a physical bank and “digital bank” both are digital. Your money is immediately invested by the bank. If you want the safest way to keep your money then convert it to dollars or British pounds and keep the hard physical cash inside your house. If you want the “easiest” way to access your funds then digital is the way but in no way is it ever the safest.
It took months for the chaos to close down and those time demand were actual
AIB content was/is very underrated, their content was so good and always had a message. But India can't handle such satirical stuff, especially the older generation. Maybe if they had handled things better they would still be making new content, but the current political situation would just skew whatever they did and bring religion and other toxic stuff into it.
it was a propaganda channel by leftists. Many idiots fell for their propaganda.
Indian economy is still recovering from this blunder called Demonetisation. After an Right to Information query it was found that no other ministry was taken into consideration for making the decision
13:22 the 60 years remark isn’t fictional. BJP/Modi keeps saying that the country gave Congress 60 years and how can he reverse the damage caused by them in 4 (1 term) or 8 years (2 terms).
Yep... That's exactly what I was gonna comment. 🙏
Its fact congress fail to develop india for 60 years and same goes to bjp they also failinig , never got a good govt.
And thats absolutely true. Its impossible. Bjp should be given more time and they have been proving to be good and better than congress so why not.
@@xavier7888 lol exports highest ever. Inflation lowest ever in 2017 pre covid. Digitalisation up. Infrastructure roads fdi up
@@jog.antani petrol highest ever , hatred highest ever
The soldier thing is so stupid yet so relatable. Whenever me and my bhakt friends would argue or discuss about demonetisation they would bring it up. My father passed out while waiting in one of those lines and it was a major health scare for our family. Demonetization was one of the stupidest thing that this govt did. And the funny thing is AIB isn't even exaggerating with this videos. Bhakts literally defended the govt with these statements.
Modi shifted goal posts many many times during Demonetization. But I feel that the actual goal was formalization and digitization of our economy and it has been achieved to a large extent. Formalization and digitization sounds to nerdy, so getting rid of 'black money' and 'fake notes' was the popular slogan back then.
Also when this was done only 40% or less of Indians had bank accounts, demonetization forced people to open bank accounts in order to exchange money. This helped govts for efficient welfare distribution as money would go directly into accounts with minimal corruption.
For example; there is a scheme where people get some money from the govt to build a toilet in their homes, earlier the money would be given in cash and the local govt guy would eat some up. Now it goes directly to to accounts and the money can only be used for building a toilet and nothing else.
I am not saying that there is zilch corruption in welfare schemes now. But efficient welfare is one reason why modi wins. One can't label everyone as 'bhakts'
C'mon just because you lost your father that doesn't mean demonetisation was a bad idea. And not all are 'Bhakts'
sure. Let's thank the britishers too because who cares what they did but they gave us trains and cricket. Who cares if a few people died, right? Lol. In the end their sacrificed themselves unwillingly for the nation. Classic bhakt logic🤣🤣🤣
10:16 Jaby bro that was Beerbiceps aka Ranveer that guy who did TRS Podcast about Hindi Multiverse, i thought you would recognize him
That was a bad decision taken by the government. I don't think like people died but many suffered a lot at least for a couple of weeks. The only good thing came out of such a struggle is half of India went on to become digital. That has fast forwarded India and the overall trade inside the country. Right now, even an illiterate peanuts selling guy on road-side has a QR code, where I can buy and send him 0.1 dollars in a second.
I think almost all the circulating notes came back to banks and got converted to new notes. Nation realised that perhaps real black money is kept as gold and land property and not in currency notes. 🤔
Absolutely
@@escapistreader3860 yes. Actually not just bkack money but it was targeted on circulating fake currencies and many of them also must have reached banks because common people cannot identify them.
The bright color tshirts are really popping..!! Gotta go with syntel's Goku tshirt. It's FIRE.. 🔥🔥🔥
13:18 they did not exaggerated that jaby Modiji really said "give me 60 years " during this situation
Wtf...when
Lmao, I didnt know that
4:40 I remember standing for hours in line just to get to the front of the line and the bank would close. Then you have to come back again. Im so glad my landlord worked with us so we can figure out the rent payments. It was a big mess.
Andh bhakto , andh namazio , chamcho , sabne desh barbaad krke rkha hua hai 😭😭
I agree...✌️
tumne kuch nahi kiya. Desh Sudhar ke liye
Mannnn 6:52
That reference 🙆♂️
Modi was a chaiwaala before he entered politics if you don't know
Advance congrats to u for 2M subscribers
I would like to explain about Modi and Anti-Modi. Modi has taken some good decisions for the country and as well as some bad decisions too. But the reason why people support only Modi and are hardcore about it because, if not Modi, the opposition party is wanting Rahul Gandhi to become the PM. Rahul Gandhi is this kid who doesn't know anything about development, politics or foreign affairs. He is just the puppet his mom wants to control. So people are really really scared of him becoming the PM. Hence the immense support for Modi.
Naveen, KV and Rahul are the MVPs of AIB.
3:31 Naveed with a beard behind the tea-seller! 😂 wonder if jaby spotted him???
I am a banker. It was a horrible time to work. Long ques people fainting.
good ol days of AIB in its prime.. especially coz people werent 'that' busy on internet so "cancel culture" and getting offended wasnt common...
demonetization was a disaster......whatever Bhakts of Modi say,truth never changes
Exactly
As you already have anti modi is anti Indian. People have forget that criticizing Indian government is not criticizing the country. People are blind. Controlling party and the country are different entities. If people questions modi it doesn’t mean they don’t respect and love their country.
Love you AIB 🥺❤️
Nobody could match you in comedy, satire, raising great issues and great observation in small things. Saying again that you were ahead of time
In hindsight one consequence that happened due to this mess was the Indian society transitioned to a cashless society, atleast for the young population.
India had almost twice the number of transactions online compared to China last year and it growing.
I was pleasantly surprised when I visited india last year after 2 years was that even the small tea shop or a fruit vendor will have a QR code to send money.
Actually several companies are trying to occupy this space such as paytm, amazon pay, gpay, upi, bhim.
Also to be honest covid helped in that case as well since people didn't want to touch money anymore. In a few years I am pretty hopeful India will go completely cashless.
Also it's already in the pipeline that you can pay with your fingerprint without needing your phone as well. This does infringe upon the data privacy rules. There has been tremendous debates about this in the parliament, but I guess it may help the elderly for whom mobile might not be that easy to operate, but I would be afraid for my biometric data. But if the government can guarantee and design secure services that the biometric data won't be accessed by 3rd parties or won't be used by other government agencies, I think this would be a welcome step towards a cashless future.
I was binge watching your AIB reactions yesterday.
And look what we have today.
As a wealthy South Indian, everyone I know including me has untaxed "black" money. Its the nature of the Indian economy. And everyone I know, including me, turned it white as soon as this happened. We were all trading tips. And the funniest part? Everyone I know supported this, because everyone thought it would catch the people richer than them, while they themselves found a way around it. All it did was hurt the poorest who couldn't find a way around it. And crush the economy.
I really appreciate to our govt have guts to taken this step bcos if they not do that so our nation not Shifted to digital methods at skyrocketing speed so tum joh marji socho
it's a fact ki abh saare digitally shift ho chuke hai
370, demonization, CAA, And Road & railway infrastructure in these scenarios govt never disappointed my family soo hope they keep it up
ok
After demonetization the rise of online payment like Paytm,phone pe, UPI payment
11:56 Nope, It Did Not work. Black Money is still there as it was. Rather... Ok when you get time Syntel ji then do Google what affects did demonitization had on India? And Google did demonitization got black money out? Also question Who profited from demonitization? Who suffered from demonitization?
It was one of the best step by the govt. all the black money vanished also the currency which was illegally transported from one country to other also stopped
AIB is the one who started dark humour in India
And to criticize government through comedy
We miss to notice whats
happening to our Country!
Recent Data & situation of our country.
1)Jet Airways closed.
2)Air India in Rs 7600 crore loss.
3)BSNL 54,000 jobs in danger.
4)No money to pay salary to HAI employee
5) 1 million to be laid off in auto industry.
6) 12.76 lakhs house unsold in 30 major
cities.
7)Air cel is dead.
8) JP group finished.
9) Postal department loss 15000 crores.
10)Most profitable company of India ONGC
is now in loss.
11) 36 largest debtors missing from
Country.
12) 2.4 Lakh crore load waive off to few
corporates
13) PNB continous losses
14) All banks incurring huge losses.
15) External Debt on country 500+ Billion
Dollars.
16) Railways on sale.
17) Rent heritages including Red Fort.
18) Largest Car maker Maruti cuts
production.
19) Rs 55000 crores car inventory lying at
factories, with no buyers.
20) Builders all over stressed. Some
commiting Suicide, No buyers construction
stopped due Mat cost rise (GST@ 18% to
28%)
21) Millions umemployed due to
demonetization.
22) Highest unemployment in 45 years.
23) 5 Airports sold to adani.
24) Higest domestic stagflation
25) Vediocon bankrupted.
26) Tata docomo perished.
27) CCD founder VG siddarth suicide due to
huge debt.
28) Record HNI individuals leaving India.
Note: Nothing is shown in media.
Recession is on the way
Many may say that demonetization was bad but personally I think it was a good policy but it's implementation was bad just like GST.
But as a by product of all this a very large amount of Indian moved to online transaction. UPI, Bhim all these were launched by government and it really succeeded in its mission.
Now even a small vegetable vendor have UPI account. If that not happened, I think we will be left out in that race of online transaction. Now crypto is not that alien concept to us. Just recently India achieved an amazing record of doing $1 trillion transaction. Is not this good.
It wasnt a good policy because it couldn't be implemented properly. This is like saying me flying like Superman is good policy but it couldn't be implemented properly. The by products weren't even the core reason for this so using it as a plus point is also wrong. Its like saying my house is more secured because I bought bigger locks after burglars robbed it. Demonetisation was a failure, there's no two ways about it. And with the new policies the government cooked up for crypto, it has no chance in the Indian market. They took out the independence from it.
Demonitization was did with without proper planning, but that definitely made India to move towards Digital India and growth in digital transactions.
It was inevitable. Was going to happen anyway in couple of years with cheap internet and accessibility of smartphone to most of the people
It's like saying the good thing out of burglary is that people bought locks for their house.
😂
@@physco4641 ok bye😂
@@physco4641 Cheap internet was not the reason, it was fintech companies who developed proper infrastructure
Modi shifted goal posts many many times during Demonetization. But I feel that the actual goal was formalization and digitization of our economy and it has been achieved to a large extent. Formalization and digitization sounds to nerdy, so getting rid of 'black money' and 'fake notes' was the popular slogan back then. Informal economy is a third world problem which you might not get, google it.
Also when this was done only 40% or less of Indians had bank accounts, demonetization forced people to open bank accounts in order to exchange money. This helped govts for efficient welfare distribution as money would go directly into accounts with minimal corruption.
For example; there is a scheme where people get some money from the govt to build a toilet in their homes, earlier the money would be given in cash and the local govt guy would eat some up. Now it goes directly to to accounts and the money can only be used for building a toilet and nothing else.
Btw even earlier anyone who disagrees with the govt of the day in India would be called anti- india. This isn't a recent phenomenon.
Demonetization was an event where all the notes of 500 and 1000 value were declared invalid, this was done in an effort of getting rid of black money but in turn was such a bad move that took a toll on indian economy and fuelled hated towards Modi Government👍🏻
Didn't matter it was good, modi got into power again
@@brainyass2023 ya, all thanks to "surgical strike" event
Whatever but after that indians adopted UPI which is best thing of demonitisation!
@@sah1372 it's not call adopting people didn't even had an option. I remember the only ad that was running at the tv was just paytm karo. It was the demonitization that helped paytm ro get so successfull and the government which helped to advertise them and the government itselves had a massive stake in the company. And if you remember the whole paytm scaming happened after demonitization.
@@jamalafroz7211 whatever either they get forced or not but digital economy is best and you can't hide your money if transaction is digital!
India is 1st country which have such big digital payment infrastructure!
My shopkeeper was willing to take money in advance as he was smart enough. Because only in exchange there was queue, not in depositing to bank and in India everyone have bank balance even the poorest with 0 balance account is fine in India. Now we trust digital more than cash. You lose some, you win some. I thinking it's revolution of Indian traditional state of mind towards digital era.
you know india is the country with the highest digital transactions and plastic money, thanks to demonitization, yes it was a good policy but was too poorly enacted, it happened when modi became PM for the 1st time just 2 years into being PM and did this, situation has bettered from that now
That was never the intension. It was just a good side effects
@@physco4641 do you know why BHIM and UPI was launched and popularised just in the midst of all this demonization?
@@physco4641 UPI , bhim all these were launched by government which shows that they planned something and even if that was not the intention but they find something good amid all that bad crisis.
@@RAJUSINGH-fe5po yes that could have been done without this disaster.
@@physco4641 nope actually , indians are generally against changes, we know this 😂
The one good thing about this is
Now INDIA is no. 1 in digital transitions 😎😎
AIB was way ahead of its time
It's fukcing biggest disaster in India.
It reduced India's GDP by 2%
Millions Jobs lost
Small factories got shut due to lack of circulating money
People died on streets
Bank employees were under severe stress working day and night
People slept hungry, died hungry.
What happened?
99.6% got back in circulation
Remaining was due to Nepal, Bhutan's Indian currency n some miscellaneous not deposited money.
Millions were saved by spending billions dollars for printing new money, ATM calibration for new notes, bank staff extra salary etc etc. Monetary value for time lost of people standing in queue in scorching heat is unimaginable.
Genius, Isn't it????
Who gains?
Ruling party buy land in every corner of India for their offices just before demonetisation. Millions of unaccounted money got deposited in a bank related to Home-Minister. All black money got legalised.
They were changing goalpost for demonetisation from ending black money to fighting terrorism to fighting naxalism. None of the above achieved.
Common people suffered at the cost irrational decision by our beloved PM which was opposed by our Reserve Bank Of India's Governor, due to which he resigned citing personal reasons.
One irrational mindless decision by one man who is not competent authority on the subject ruined India's economy, Ind still not recovered from this senseless decision yet. Anyone who questioned decisions declared anti-national by supporters of modi.
Not seen a single rich man in a queue. All poor people suffered, lined up to get their own money in a small installments.
No one utter a single word, neither people who were suffered voted out the Modi because they are happy with his populist majoritarian autocratic policies.
Welcome to 'New' India Jaby
We are bunch of intolerant tribe now who feel threatened by our minorities. They are our (fictional) enemy now.
Lol this was unexpected! Watch more of these please!!!
The way Jaby dodged bullets by not saying anything about Modi or BJP on this one to not get boycotted by bhakt subscribers is commendable. One thing he has realized is to always praise India no matter what and brainless bhakt zombies will follow him till the end times.
Yeah Afterall going against Modi or speaking anti india would just make him loose followers who are mostly indian so ig that’s his reason for being biased
People were not standing in queues for exchanging the notes, but there was a limit on withdrawal because continuously ATMs and banks were kept running out of cash, and people didn't have money to spend...
over 100 people died just standing in lines in front of a bank or atm.. and demonetization failed miserably..
0:58 Ironically Each and Every objective has failed,
except his friends got richer😝
Ambani and adani, right?
@@anuragsharma1993 as if ambani was nowhere Before 2014...
They were already crazy rich Before Modi...
This point that modi does everything for ambani and Adani is completely illogical due to many reasons but it will waste my time telling them so yeah....
It did succeed. Digital payments went up.
Haha ambani became rich after 2014 LMAO ..the burns are harsh
K2a detected, opinion rejected.
Yeah the soldier reference was from Kunal kamra standup
At the time there were no government approved digital payment options such as Bhim/Upi. people were forced to subscribe to private payment partners such as Paytm, who were openly in alliance with the ruling party. transactable money was not available for weeks. it mostly affected the daily wage earners and poor. Have seen a lot of businesses bankrupt at the time just as currency was not available. Not everyone had a smartphone with internet, to adopt Paytm. It was a political tool used for elections, as are many "master stroke" decisions. because elections usually would see parties paying people for votes in cash( an unfortunate truth for many political parties). At the time only one party had money, so it's easy to see who won. As for the middleclass and upper middle class, it's impact was minimal. Those who had black money were allowed to convert all to white, without any history or trace. it did drive the economy down during the immediate period whose effect lasted for a few months. You may see hate comments below (both political and religious attacks). As a political analyst you know where it would come from. politically it was a genius strategy.
UPI was launched in April 2016, demonetization was in November 2016, the lack of paper currency boosted upi to become what it is today
@@vamshis1756 banks implemented qr code scanning and upi payment by December the earliest being SBI. it existing in April and noone being able to use it doesn't make it useful during demonatisation
@@jijogorgeraj ok, even with that being done in December, it was the go-to alternative to cash when the exchange was stopped in December. demonetization drove people to accept UPI, this was more effective with small vendors which bought brought them into the organized sector
@@vamshis1756 hence my point brother. UPI should have been established by banks before demonatisation. then it is justified. easily would be able to move to digital transactions without the suffering.
@@jijogorgeraj sure maybe, it wouldn't be much effective, as we had wallet payments for years and only a very small % used it, and banks would not have voluntarily taken part in it, demonetization pushed UPI into overdrive and forced the banks to enroll as they were also impacted by demonetization.
No the notes were changed but as it was a new currency so there were not enough bills to swap with and if you have a lot of money which you will be asked a lot of questions
Brings in demonitization to stop corruption then brings in electoral bonds as UNO reverse 😂😂😂
I was a massive bhakt at that time. I used to think that these people are anti nationals. I thought at that time that the deaths are lies told by the opposition party. And I would've been a bhakt till today if there wouldn't be the religious angle
looks like you got a lot of woke influence
@@NoVideo2024 no, I just grew up
Now please react to Kunal Kamra's "soldiers are fighting on border" stand up routine to completely understand this video. It's hilarious and highly controversial.
He is not comedian he is just political model similar to kangana ranaut!
He's unfunny af
There's already a reaction video on that. Achara did it with some guy. Ended up drawing lot of flak and abuses bcz according to people they reacted to someone who is anti Indian and anti Modi.
Voh toh uselss insaan hai modi ke naam pe khudka ghar chala rai voh bhi ni chalega ab.. Kyuki modi ka fan folowing badhte jarai and people are really starting to realize how big of a afool they were before
🤢🤮🤮reaction to kunal kamra
That's beer biseps whaaaaaat🤣
Hilarious 😂 also please react on some kamala Harris and Joe Biden memes or their speeches. I watched a few yesterday and wow!! They are going to make your day 😂
He wouldn't. He is ardent bhakt of liberandu politicians like Harris and Biden
One unexpected pros of this is adopting to cashless payments like Google pay.
India is way ahead of 2nd place in transactions
When your intentions are good but implementation is soo bad.....
Demonstration had its good as well.....it did exemplary well with the launching of Rupay and Digital India like Upi and Bhim
Not kidding, nothing in the video was exaggerated! Just shown comically. Every sentence was a real statement during that time.
Hopefully not 60 years thing, or was it?
Guy in the radio was representing Narendra Modi. And it was absolutely correct because they were changing rules and the reason why they've done it were changing everyday. And our government was keep asking for more time to reduce the damages and run the operations smoothly
Aib will remain gold even after elon musk would shift us to Mars
Best thing came out of these ...digital push for transactions
Yep, most of this was true. The only upside to demonitization was that, people started using online money and moved towards online transactions. This, again, benefited the telecommunications markets (Jio, a Modi project). But who is keeping tabs?
Really do you only use jio ? Jio money came way later dude .
Ambani se chidte toh aise ho jaise modi se pehle tum usey khana khane k paise dete the . Woh pehle bhi indias richest man tha .
dont worry Jaby even Modi had little understanding of what he was doing
Jaby educate yourself before uttering rubbish - Stick to mindless bollywood before going off on politics.
Anti Modi isn't Anti Indian . But Anti-Indian are definitely Anti-Modi. Know the difference
Bjp and Muslim league are basically feeding each other. Competition is good for extremists to radicalize their own people. Some anti Indians are pro modi.
I personally feel individual debt is increasing after monetization because now we have 2 mediums to pay...cash and digital..it's difficult to maintain Balance between them and it is leading to overspending
What a random reaction 😂
People were given I guess 3 days to exchange their old currency with banks or deposit it in bank account.. This way all unaccounted cash came into picture and govt came to know about non Income tax filers as well
Yeah anti Modi are also called terrorist
Which is ridiculous.
@@oddy3079 yeah
Jaby said "Bakchod" without realizing its a curse word with series face, got me rolling lol...🤣🤣🤣
i want AiB back , want that type of honest and satire videos , no one else doing that after aib stopped, can we have more videos like that
AIB was ahead of its time so they were punished and eliminated
Later few more comedians tried to do political satire like munawar
And you know what happened to him
So just leave this genre in India people will not understand this
By the way political satire and dark humourous jokes are my favourite
Of the notes worth Rs 15.41 lakh crore that were invalidated, notes worth Rs 15.31 lakh crore returned
We did not have That much big currency so in 2days we exchanged them all haha😁 but modi government was first time in power with full majority they are bound to make mistakes their execution of plan is great but they can't follow through it still atleast they are improving with every mistake that's their BEST SELLING POINT.
From the general view demonetization was about curbing black money outflow and counterfeit money.
Which obviously didn't work in that manner.
From my perspective it was to give it's opposition party a blow, since money/fiat boarding is common here.
Modi's first masterstroke🤣
Better be the last one😅😂
yes but modi got india out of this situation and promote upi system....this is masterstroke...
@@krishpatel5467 he made so many masterstrokes after that…
Don't forget CAA, triple talaq, Ram mandir, Art 370 and many more after that mate😉
@@modithewokebutcher.9855 bro comeon u just can't justify all the trouble people had to go thru and u justify by saying he promoted upi.. USA and Germany and many other countries already had paypal and other money transferring apps without this masterstroke.
Pakistan was running a whole new business of duplicate indian currency. The designs were so old amd leaked that duplicate currency and original currency were very difficult to recognise by the experts also.
This duplicate currency gave rise to terrorism and illegal activities.
So what wd u do?
I think it was a good decision and considering the whole big ass country that we are, implementation was not too bad. Also govt easily pushed digital india plans under this and UPI bhim became a true success. Today online digital transactions on UPI via paytem, google pay, phone pe is more than 1 billion transactions daily.
Every vendor, everyone is using digital money amd wallets. Do u think it all happened just like that. Govt created a cashless situation. It forced all of us to go digital.
It was a bold move ,considering elections in 2019. Modi got a landslide victory again in 2019shows what country thinks abt him.
Well did people not suffer? Ofcorse people suffered. I stood in lines 200m long ,that too in delhi.
Bt after 1st week , the situation started relaxing every day. By the end of 1 month, only those people were worried who had loads of cash and couldn't exchange without income tax dept investigation.
In the end, it was a great experience and we as a country adapted to it pretty well and look at our cashless digital transactions today.
RBI is now allowing cash withdrawal using UPI from atm. Cardless and cashless ,truly digital.
@Nipun Yadav i m sorry bt u should ask ur mother abt my fantasy land
That was exactly Demonetisation.
In terms of people dying
Demonetisation was worse than Deepwater Horizon 🔥
But India has now came out of that miserable situation...
why?
it wasn't as bad as you are saying.
@@NoVideo2024 what can you expect from a choot who watches druve tatti's videos.. .. thodi der baad boley ga ..uski ma ka rape bhi huwa tha bjp ke workeron se.
People does not lost money (except maybe those who were hoarding a lot of cash in their home) .They just needed to exchanged the old bills to the other running bills in the bank until the last date given.
React on Dhruv Rathee video on SriLanka Crisis .It's an request
chal bsdk ke congress bhakt
please stop their....dhruv rathee is a propaganda
Dhruv rathee is just biased political model same like kangana ranaut!
@@modithewokebutcher.9855 what is not propaganda
3:35 that stand up by "kunal kamra" on patriotism, i have seen your reaction on that video so that instantly stunned in my mind.
It is not exaggerating at all. The tales of suffering are surreal.