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Solutions the Cash crisis the Indians are going through right now – Toronto, Canada!

Solutions the Cash crisis

Since the day the announcement has come out from the government on 8th November 2016 about the fact that the highest denomination notes are presently not a legal tender. But to out of the puzzle people have found a way.

This new is to get around the denomination and get over it without wasting much time and energy. Honestly I tell you, you don’t have bunk holiday for this.

The 500 and 1000 INR ceased to be valid from Wednesday after the government’s decision. The currency note was equivalent to $7.55 and $15.10.

Amidst the chaos, some businessmen have offered solutions to get rid of the forbidden notes.

A gym said “don’t worry about your INR, convert them by buying or renewing a long term membership,. All denominations are accepted”

A tax official at the Central Board of Direct Taxes, under India’s finance ministry said they “carried out surveys in some places”. They did the investigation in some jeweler shop in New Delhi to find out the no of illegal transactions taking place.

A clothing store accepted the notes in the outdated denominations. The shop owner said “we’ll deposits all the bank”

NRI Gamble

Many NRIs tried their luck at exchanging currencies but the embassy officials, haven’t received any instruction from the government or the RBI.

There was an issue in Toronto, Canada, where the demonetization caught headlines of a local newspaper.   

The NRI s in IS and UK have been calling their parents and friends’ back home. A working women said, she has no clue on how to exchanger her currency notes which are invalid now.

William, who works for a UK based MNC, travels to India on work for the company’s Indian subsidiary. He called his colleagues here to ask how he could exchange the USD 400 worth Indian currency in his possession.

Mr.Sandhilya told that he had some Rs500 notes to exchange, summing up to 400 USD.

William, who works for a UK based MNC, travels to India on work for the company’s Indian subsidiary. He called his colleagues here to ask how he could exchange the USD 400 worth Indian currency in his possession.

On Tuesday, the Indian Prime Minister Narendra Modi surprised the nation and the world with a sudden call-off of all 500 and 1000 Indian Rupee notes, equivalent to $10 and $20 in Canadian currency. The consulate c\general of india, Toronto didn’t have any derivative from the government.

The RBI has many Reverse bank has many question, which Muslim entry an online

Samir Gathe, an IT consultant, who recently immigrated to Canada says, “ I have around 5000 Indian Rupees in cash, just left for a travel back home anytime soon. I never converted it as I felt the conversion was not worth the rate and moreover I  had a purpose to keep it for travel.”

The ICICI bank in Toronto is not accepting Indian currencies as it is not part of their business dealings in overseas.

The Royal bank of Canada as\lso mentioned that they won’t deal with Indian rupees. However, wire payments are still going on.     

I think the solution must come from the RBI or the government, cause the main problem here is MONEY.
 

BY UITV, NOV 13