How to exchange your 500 & 1000 notes

By this time, all of us are aware of the blitzkrieg move of the Modi Sarkar to demonetise the 500 & 1000 rupee notes and so I am not going to elaborate on that.  Enough has been said and written.  So let’s get down to business

I will share a step-by step process to get your 500 & 1000 notes exchanged in a bank. Currently, you can get upto Rs4000 exchanged in a day by this process.

  1. Please carry the original and photocopy of your id proof.  the accepted proof are Aadhar, Driving license, Voter ID, Passport, NREGA card, PAN Card or any identity card issued by govt dept psu to its staff.  (I am not sure if ration card is an accepted proof because it is not mentioned)
  2. At the bank, you will be given a form like this 5001000form
  3. Fill up this form in full. Collect this form at the entrance.  This is only for exchange and not for deposit.
  4. Also add the serial numbers of the notes you are surrendering in the form.
  5. Give this form with the photocopy of the id proof & show the original id to the staff.  On  the photocopy also write the amount, the purpose and sign before giving id card xerox to banks. This way you can avoid unscrupulous managers/staff using your id for someone else’s exchange. (updated)
  6. If you have an account in that branch/bank, write down the account number and also your mobile number in this form. (At the ICICI Bank branch where I got my money exchanged, there was a separate counter for account holders and non-account holders. the process however is the same)
  7. Once the staff has authenticated the form, the proof and the numbers of the notes, the form is stamped and signed and then given back to you
  8. You can then take the form and the notes to the teller counter where they will give you the amount in 100’s or 50’s depending upon their stock.  This particular branch had only 50’s and so I got a fistful of 50 rupee notes when i came out.  My wallet was so fat and I felt so happy

Overall, the process was smooth and I got my money in about 10 minutes.

Some disclaimers:

a. I am not sure if the same process is applicable in a post office, though

b.  I’m not sure if the tenderer has to come in person or if they will accept it from someone else.




The brouhaha is over!

World Cup 2007 is over with Australia confirming their status as the Champions.

And nobody talks about the Indian performance except in whispers because it is not current any longer!!

Chappell has resigned and our focus has shifted to the Bangladesh tour for which Sachin and Saurav have been rested???!!#

A new set of ads about India picking up the World Cup in 2011 and 2015 are already making the rounds on the  TV.

What is the BCCI’s action plan for 2011?  Nobody knows and sadly nobody cares.  Why should one?  A tamasha is over and that’s it!

Is there a pattern in the finals?

A quick look at the 9 world cup finals shows an interesting pattern as follows :

West Indies 1975, 79 and 83 (won the first two against England and Australia and lost the third to India) and never got to play the finals since then.

Australia 1979, 87, 92, 99, 2003 (lost to Windies in 79, Won against England in 87, lost to Sri Lanka in 92, won in 99 against Pakistan and beat India in 2003. They have not lost a match in the World cup since their opening match against Pakistan in 1999. Will the law of averages catch up with them or are they going to defy gravity?

England 1975, 87, 96 (lost to Windies, Aussies and Pakistan respectively). Never won the World cup so far.

India 1983, 2003 (won against the Windies and lost to Australia). World beaters but got out of this world cup in the qualifying stages itself.

Pakistan 1996 and 99 (beat England and lost to Australia). Same fate as India.

Sri Lanka 1992 and 2007 (beat Australia in 92 and in 2007 …). Done well so far but have lost to Australia by 7 wickets and to South Africa by 1 wicket in the Super 8.

so what will be the fate of the 9th World Cup?

We are truly world-class!!!!

Don’t sack Chappell. He can’t perform miracles can he?

Dravid is the best captain but the Indian batsmen (and also the batsmen, bowlers and fielders of Bangladesh, Bermuda and Sri Lanka) let him down

It’s Sachin’s day off and everyone has a lean patch

Saurav Ganguly has just come back with a bang.

Sehwag hit a powerful century (against Bermuda) didn’t he?

Uthappa is new and so we need to give him a chance.

Yuvaraj is our next hope and so don’t kill him.

Dhoni has the potential to win matches single-handedly.

And tell me who is there to replace all these veterans?

Kumble has gone on his own.(Thank God!)

Our pace bowlers have to be coached and groomed.

Harbhajan can be lethal.

Is anybody left?

Our players are world-class.

To be objective, the fielding offers some little scope for improvement and so can the running between the wickets but there is not much else to be done

And if you ask me, the real culprits are :

The umpires are partial, (couple of lbw decisions were against us)

The format is unfair (courtesy IS Bindra)

Bermuda didn’t beat Bangladesh, (Gods let us down)

Bermuda didn’t beat Sri Lanka, (why can’t they stage an upset?)

Bangladesh didn’t beat Sri Lanka, (highly inconsistent!!)

The outfield is slow,

the grouping was not favourable, …. ….. …… ……..

With this attitude, we are World Champions in 2011!

Great show Anand!

Anand Viswanathan is officially Numero Uno in the World of Chess.

Anand, we are really proud of your performance!

Wal-Mart’s entry into India

The size of few hundred millions being served by unorganized retail is a dream come true for any businessman, what to talk of Wal Mart, the World’s number 1 company!

The tie-up of Wal-Mart with Bharti as announced has already created shockwaves amongst the existing and emerging retail chains and retailers alike. The reason, Wal-Mart has a history of driving the mom and pop stores out of business every time they have opened a store and have also outgunned the competition from Kmart and other big time retailers in the US consistently.

The big question is ‘Can Wal-Mart replicate its US success in India?’ and there are valid arguments in support of the yehs and the nays.

First those in support of Wal-Mart.

a.  Given their huge exposure to retailing, supply chain automation and outsourcing agreements,  they would be in a better position compared to say Reliance who is just learning the ropes.  (Perhaps that is the reason for Reliance to look for partners overseas).

b.  The deep pockets of Wal-Mart  may help it manage rough weather for an initial couple of years which its opponents can ill-afford.

c.  There is a huge population of shoppers in India which is cost-conscious and  Wal-Mart might be in a vantage position to take advantage of this trend.

Those who are against, offer :

1.  Wal-Mart’s policy of paying low wages will run into rough weather with other guys like Pantaloon or Reliance poaching their well-trained staff not only from the stores but from the back end operations.  And if they really pay Industry level salaries, then they might not have the competitive edge.

2.  The concentration of the shoppers in the metro and cities in India runs counter to the situation in the US where Wal-Mart focusses on the suburbs or the rural markets.  So Wal-Mart will have to pay huge rentals in good locations in the metros and cities which will also have an impact on its cost structure.

3.  Unlike the US where there are only regional accents of English, operations in different parts of India would need people trained in local languages as well in addition to English and this might hit easy rollout of new stores in the pace that Wal-Mart has become well known for.

4.  Outsourcing from cost-effective sources like India and China may give the definite cost-advantage in a market like US but might not have much bearing in the Indian market.

Only time will tell whether Wal-Mart has joined the ranks of the MNCs that have bit the dust in India on account of either bloated expectations or lack of empathy or whether it will successfully add India to its global map.

Watch this space for more updates!

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