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  • Category: Miscellaneous

    Have you experienced directly or observed any of your known persons affected by demonetisation act?

    Demonetization is a very big act that can be experienced rarely once or twice in a life time. I have experienced this change two times in my life till today. In 1978 this has not much affected common man since many of them have not seen 1000, 5000 and 10000 currency notes at that time.But this time this act may bring so much influence on the living style of even common man. As normal citizens we are experiencing not able draw money from our accounts as there is no cash in banks or ATM's. The other problem is there is no change for bigger notes like 2000 and there is no availability of lower currency notes. Normalcy of currency outflow from banks has not restored today and 90 percent of ATM's are not functioning. Small business people and daily workers are suffering because of lack of work. I have seen some people who have kept some hopes on selling their property, land or house to get some seizable amount to use it for marriage or to get interest on it to carry the later part of their life are very much disappointed. Share your experiences regarding this issue.
  • #584825
    I personally didn't face any issue whatsoever though within this period only I had to visit the bank for a foreign currency travel card and some cash in pounds for traveling to London. I had one account in a PSU bank and another in the largest private bank. Both branches were within one kilometer from my house and I could see the queues outside both the banks. However, I studiously avoided visiting the PSU bank and have not visited the same since the announcement of the demonetization policy. At the private bank, the officials knew me and always took me inside without letting me stand in queue sometimes stating that there is no queue for senior citizens and at other times on the pretext of foreign currency related work. Once inside, it was business as usual as they were taking only 4-5 persons for cash deposition/bank note exchange-related work and there was no crowd inside.
    I visited bank at least 4 times since 08.11.16 and never felt anything different. I could deposit old bank notes available with me, draw sufficient cash from my bank account, get foreign currency and perform other routine works in bank branch like depositing a cheque etc. I have all praise for the officials of my bank.

    Let us encourage each other in sharing knowledge.

  • #584828
    How many people will be as lucky as Mr Kailash Kumar who is able to get money and get his work done without standing in a queue?
    Once I went to medical shop to purchase medicines. I am having only Rs 2000/ notes as Rs 100/ notes are not available. There are four medical shops side by side. None of the medical shops are having swiping machines. They did not accept the Rs 2000/ note and I am unable to purchase the medicines as was the case with many others. I am not allowed to draw Rs 24000/ from my account as there was no sufficient cash with them. They are allowing Rs 4000/ at the Bank of Baroda where I have my account. Now I am not in a position to fulfill the commitments I have. Some people who are having connections having a field day by exchanging hundred rupee notes for two thousand rupee notes for a commission. I am forced to visit the bank and ATM on almost daily basis.

    " Be Good and Do Good "

  • #584837
    Since we are all salaried class belonging to the middle class family and not having more bank balance to worry about, the transition towards cash less regime is slow but not as expected. Hardly one may have 10 or 15 banned currency notes which were already deposited in the bank. Mind it we have been habituated to have the big currencies as the ATM slots wont feed us with 100 rupee notes previously too and hence we all have piled up the collection of 500 or 1000 rupee notes got through ATM slots. Therefore that currencies cannot be termed as black money at all.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #584843
    No doubt, all of us in this country are affected one way or other by the recent currency withdrawal or demonetisation. However the degree to which we got affected or the way we reacted and responded only varies.

    I really appreciate the poor and lower middle class people who have shown restraint and understanding of the situation and keeping hope and trust. It is such maturity and ready-for-some-sacrifice mentality of the ordinary people that has prevented me from any adverse reaction and response.
    I feel humbled by the positive response and understanding of most of our countrymen.

    I hope the government machinery will not test their patience for more and make things near normal to them soon.

  • #584949
    I have not come across even a single person who is not affected in any way. Maybe people are too busy standing in queues that they have not noticed the increase in prices of almost everything except the perishables like veggies. Modi is keeping everybody busy with his nuclear bombs in installments. Today, it has been announced that a person cannot keep gold more than a particular quantity depending upon his/her marital status. Now the prices of gold are going to fall as the unmarried women/girls cannot keep more than 250 gms, men cannot keep more than 100 gms and they may need to sell the extra gold in a rush.
    When you talk, you are only repeating what you already know. But if you listen, you may learn something new!

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