Tu Chor, Main Sipahi!

tuchormainsipahi

I was recently reminded of this 1996 movie(the title, not the story). Starring in the movie were Akshay Kumar(Sipahi) and Saif Ali Khan(Chor). What was the reason for suddenly remembering such an old movie? No, not being a fan of Akshay Kumar (although I am one). It was looking at the cat and mouse game being played between the illegal (black) money hoarders(Chor) and the Narendra Modi led Government(Sipahi).

The hoarders have played every trick in the book and the government is quickly reacting each of them, in an effort to plug all the holes.

A short summary of what has happened over the last few days:

Chor: Buy gold with cash.

Sipahi: IT raids on Jewellers

Chor: Buy $(Foregn Exchange) with cash.

Sipahi: IT raids on Hawala Dealers

Chor: Buy Appliances/Mobile Phones with cash.

Sipahi: IT scrutiny on all back dated purchases

Chor: Buy Railways Tickets with cash and then cancel and claim refund

Sipahi: All cancellations above Rs.50,000 to be directly deposited in bank accounts

Chor: Buy Airline Tickets with cash and then cancel and claim refund

Sipahi: Only non-refundable airline tickets can be purchased with cash

Chor: Rent out Jan Dhan accounts.

Sipahi: Cash deposit limited to Rs.50,000 in Jan Dhan accounts.

Chor: Pay people money to stand in line and exchange cash.

Sipahi: Indelible ink to mark people withdrawing cash

And the game continues..Picture abhi baaki hai.. So keep watching!

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Important: When depositing your OHD cash in Bank / Post office

ohd-demonetisation-inr-1000-inr-500

Many of us will be going to our bank branches/post office to exchange/deposit the recently demonetised old high denomination (OHD) notes i.e. the old notes of Rs.500 and Rs.1000.

While depositing Rs.500 or Rs.1000 notes in the bank or post office, you may be asked to provide your ID proof and PAN photocopies.

When providing such copies, do ensure that you attest the same to prevent their misuse. Otherwise, there is a risk of your document’s copies being used for several transactions of different people’s deposits. This can potentially create unwarranted and unnecessary complications for you. A simple attestation can prevent this from happening.

How to attest?

Here’s a template:

(Signature)

“Self-attested photocopy provided on (date) to (bank name and branch) for deposit of Rs.(amount) via (number of notes) notes of Rs.500 and (number of notes) notes of Rs.1000″.

This exercise will take just 2 minutes of your time but prevent any possible misuse of your documents.

Better safe than sorry!