Online Loans, Equity Line of Credit, Equity Loans During Demonetization

Best Video on Demonetization in India | Just listen to this guy once

Online Loans, Equity Line of Credit, Equity Loans During Demonetization of Rs. 500 and Rs. 1000 notes are considered to non-legal tender from the night of Nov 08, 2016, which has been put forward by Indian Govt to combat terrorism, counterfeiting currency, drug mafias, black money holders, etc. Due to demonetization, the inflation level has come down very much below not according to the datas provided by the Central Govt. Arhar Dal which was zooming at Rs. 140/kg came down to Rs. 60 - Rs 80/kg. Vegetables, all eatables has come down sharply. Banks was having shortage of cashes as 97% of cash are withdrawn and new Rs. 2000 notes are been injected. Apart from that, there is a limit of Rs. 24000 as withdrawal limit. Black money is not lying in cash alone but in benami properties, gold, Online loan, Equity line of credit, Equity loans and even jewellery. When BJP Govt came to power almost all the poor people have open an account named "Jan Ghan Bank Account". Now Govt is planning to provide money in this accounts as Minimum Income. 

Economists Like Kaushik Babhu, Amatya Sen, and even Forbes says that it will harm the Online Loans, Equity Line of Credit, Equity Loans During Demonetization and the people who are willing to do business. One thing is clear, economy will be slowing down, but as inflation will be in controllable position and if Govt comes up with good budget and high investments, market will be moving forward. Rating agencies has already confirmed that Indian economy will be growing by about 7%, not 7.6%. Stock market too crashed below 8000 points, but now it has regained 8400 points. Indian shares were highly priced too at that time. 

Congress parties, Mulayam Singh, Mayawati and even Mamta Banerjee shouted loudly against BJP Govt and also against demonetization. Congress party members were ruling for the last 60 years, India developed under the guidance-ship of Dr. Manmohan Singh as Finance Minister. But after that it was marred by scams, loots, etc, which was lying with them as Rs. 1000 and Rs. 500 notes as Equity line of credit. Mayawati's brother was caught depositing high amount of cash in the bank as Equity loans. Mulayam Singh is the ruling member of Uttar Pradesh and holding good amount of cash with him. In Kolkata, lot of chit fund scams had taken place and mostly Mamta Banerjees Tirumul Congress leaders caught red-handed. So they will shout as usual. 

Deposits and loans repaid by Indians must be thoroughly checked by income tax officer. Rs. 80000 crore Online loans were repaid during the demonetization. Apart from that rs. 200,000 crores were deposited in various accounts.  BJP Govt must check all the accounts who have deposited more than Rs. 250,000 and scrutinized by Income tax department                                                                                                                                                                                                               http://www.moneycontrol.com/