Now-a-days, demonetization is talk of the town. The decision came with a drastic announcement just 4 hours before ban. After that, constantly coming and changing decisions are forcing people to doubt their actions. Here is a post all about demonetization.
The country was taken aback by the sudden decision by the government to demonitise Rs 1000 and Rs 500 notes in order to fight black money. A look into the daring demonetization step as on today.
The cash crunch
The availability of cash still seems to be a problem to the common man. Long queues at ATMs and banks not supporting withdrawal, the looming question of how to satiate cash in hand still prevails. Digital wallets payments have taken over the working class section of the economy, while it might not have penetrated into the lower rungs of the society. As on 21st December, I still had to wait in the queue for about 45 minutes to withdraw a single 2000 Rs note. Speaking to people in the queue, the most common answer I got back was “we are not sure when cash would be required, hence we are withdrawing”.
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