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  • Category: Miscellaneous

    What had been your individual experience in context to “Demonetization”?

    We often have evident of the reactions from others consisting of aggressive & emotional expressions on their faces seemed to favoring the common peoples. The facts presented were even extended to something unbelievable which even included with baby birth in a line for receiving cash from ATM or bank. There would be many others incidences and stories that were being told by the leaders of the different political parties & one even went on showing his torn kurta in some public rally but what do you feel with your individual experiences associated with this massive act on behalf of the elected government.

    Pl. keep this to your experience & not extending to others because what happened to us would be the real face resulting from "Demonetization" & not the others who manipulated it in order to favor themselves.
  • #661364
    Personally, I have not felt any inconvenience because of demonetization. When the announcement came I had some 20nos of 1000 rupees notes and around 100nos of 500 rupees notes. The next day I have gone to the bank and got it deposited in my account. I started using online transactions for all money dealings except to my servant maid. Even I started paying money to the milk vendor also online. Whatever I purchase in retail I use my debit or credit card or Paytm. For all other monthly once transactions online only. Medical expenditure and driver salary also I pay online only. That is how it helped me in going away from dealing with cash. My sons started ordering vegetables also online and there is no physical cash requirement for this.
    I am not a financial expert to debate on the advantages and disadvantages of this particular act but personally, I got benefitted by inculcating the habit of doing the majority of the financial transaction online.

    drrao
    always confident

  • #661365
    During that time I was in Dehradun as my father was seriously ill and wanted attention. I had some cash (about Rs 8000) in my house in Mumbai and I thought that I will exchange that after going back there.

    Unfortunately my father being very old went into almost a paralytic stage and I had to remain in Dehradun for quite some time. By the time I came bad the window for exchange was closed. People told that Govt may again open the window for a short time for the affected persons but it did not happen.

    So I was a loser but it does not matter much as some people have lost crores of rupees dumped in their godowns and warehouses and they did not tell it to others fearing a search.

    Demonetization has warned the people against holding the black money and in future also they will be fearful as it can repeat to nab the culprits.

    Knowledge is power.

  • #661367
    The next day of announcement of demonetization I was to go to Kolkata. So, during the next three-four days, I had to face a lot of difficulties. But my brother and his wife in Kolkata helped me a lot to get cash from different ATMs.

    But the problem was temporary. Everything became normal within seven days.

    'Nayak nahin; Khalnayak hoon main' (I am not the hero; I am the villain)

  • #661368
    As I did not have any sizeable amount of the demonetised notes, I did not suffer much difficulty. But unfortunately it was just a day before that I withdrew money for household expense for the month. Some of the notes were in 500s . I had also kept some amount as emergency reserve in my home(I feel less than 10,000/ anyway). As I had already purchased the household grocery and vegetables needed at least for a week,the previous day, I managed with it for more than a week.

    I waited for the crowd to subside a bit and then remitted the 500 rupee notes to my SB a/c and then withdrew the limited amount allowed then.

    I stretched the amount to the maximum possible extent and went to bank after the initial crowd decreased . Unfortunately I did not have a validated debit card then. But I was using internet banking for most of my bill payments and hence did not suffer in that regard. As I had already paid the milkman and bought grocery and vegetables for a week, I could manage without much panic at least for about first ten days.

  • #661373
    At the time of announcement I had no physical cash with me. Immediately I went to my nearby ATM and I have withdrawn some Rs.1400, all of hundred rupees notes only. By using these I managed for one week to anything like vegetables, milk etc. with it. But afterwards it became very difficult to get money from ATM. Already from very long back we are using net banking and ATM cards, I used to pay anything with it wherever it is applicable. Most of the time in ATM's we used to get Rs.2000 only which made it difficult to exchange. Store people declined to give any exchange for it even at the loss of their sale. Personally at that time I and my brother's together going for development of Apartment registration. Suddenly as this announcement came, the registration process stopped and the builder declined to takeover this work as there is a slump in the market even after one year. At that time there is a lot of boom in the market, I expected to get a good sum after keeping one flat for me. As I am working in a private organisation I don't get any pension like government employees and I thought this will save me. Because of demonetization it is heavy loss for me.

  • #661380
    The announcement of demonitisation came all of sudden but such an announcement did not impact me heavily because of lesser possession of 500 and 1000 currency notes. I was having 12 odd number of 500 notes and 8 odd 1000 rupees currency and submitting the same in Bengaluru did not take much time and the exchanged notes were enough for me for miscalleneous expenses for at least twenty days for paying vegetable and milk - bills.
    I was under impression that the hardships would go away within a month. However, this lasted for nearly four months in the normalisation of the system. Worst part of this process was that ATM did not provide currencies beyond 2000 Rs in most of the time.
    Then later I opted for on line payment for my family expenditure and such an initiative offered me substantial relief from the hardship of Demonitisation.

  • #661384
    I did not face any much problem for 17 days until one of my family members expired far away from my home. I needed money to take a bus and move, and also for other expenditures. Though I had a good bank balance, I could not withdraw them due to limitations imposed. I approached the Bank Manager and explained my situation to get Rs.25000/-. I almost shed tears in front of the BM. An unforgettable day of demonetization to remember forever.
    No life without Sun

  • #661396
    I have not come across any difficulties during the period of demonetization. I have used by debit card for most of the transitions.
    "If you don’t understand my silence, you will not understand my words"
    Unknown

  • #661407
    So far we have been to positive replies from the different members who chose to go for the electronic transactions with setting examples to follow suits in order to come over any temporary hurdles but instead of this we can't deny of the fact that this sudden decision had led to some uncomfortable bearings but in a major part several fake stories were created on the ground level which were unfair from few sections of society because those were not real.

  • #661455
    Few days before demonetization i got money from sbi ATM but i spend those. Hence we in our family didn't had any 500 - 1000 rs notes. After few days we tried to get money from ATM line.
    But horror of demonetization we saw on TV. 100 + people died due to Demonetization and some place riots like conditions, like Chaos. I thank god that we had no 500 - 1000 rs notes.

  • #661460
    #661455 / Rahul, do you get the intensity of words when using "riots like conditions, like Chaos".

    "100 + people died due to Demonetization" is it really the case or the stories were spread without facts by the media for TRP or by the opponent leaders in order to downsize the acts of the government. Complete electronic transactions were allowed with the flexibility of using the old currencies in any of the governmental hospitals along with the petrol pumps.

    Instead what I witnessed was the huge lack of co-ordination & understanding within the public who kept on storing more cash then required by them or otherwise we had many who followed suite & we owe them a lot in some temporary adjustments.

  • #661477
    @ Ved prakash anand
    You may not have read recent news in which New suggest 99% of cash came back and only 1 % reduction of cash as money. You yourself say if people is using electronic money too much why on first 99% money came back?
    I myself saw approx dozen times during those month of demonetization clerks and cashier died. In some cases manager and old man waiting for his turn in bank died. Well BJP had is too cunning to admit it but i say If because of your decision 1 person die, the responsibility should be taken.
    I want author to understand, we live in country where large sum of money is under banks operated regional, rural, coporative etc then nationalized banks.

  • #661484
    Demonetization was the only way to bring back black money hidden outside the banks. I must say that Modi was successful in his attempt. Though there were some initial difficulties experienced by the people, it was tolerable. Nothing went wrong. However, there was some lapse which could have been avoided by good planning. The ATM was not adjusted to cater to the new 2000 and 500 currency notes. This caused some delay. Banks had their heydays to earn some extraordinary money, I think.
    No life without Sun

  • #661489
    During that period I happened to visit a marriage ceremony and the family had withdrawn a large amount of cash from the bank.

    Now it was a bit embarrassing for them to distribute to us as a tika money or pay the provision shop etc.

    But somehow we all cooperated with them and went to bank for conversion. It took some time but it helped them a lot.

    Thoughts exchanged is knowledge gained.

  • #661521
    @Sun
    Demonetization was the way to bring hard earned money of poor people of India to banks and Later from that money, 3.6 lakh crore was waived off for large borrower of money of Modi and BJP friends.

  • #661559
    #661477/Rahul, "I myself saw approx dozen times during those month of demonetization clerks and cashier died" & "In some cases manager and old man waiting for his turn in bank died. "

    Do you even know about what the above means to us even on approximate basis? Could you pl. be more specific to the location & with the bank & let the other members also have a look to this fact through Google.com.

  • #661560
    #661521/Rahul, "waived off" is a different concept which the Congress government too announced in the states of MP, Chhattisgarh & Rajasthan after their winning in those states & so let's not talk the politics here or even interested than let's have a separate thread on to this.

  • #661562
    @Ved
    #661559
    So, you think no body died. I saw in news channel during demonetisation. People died due to this decision of demonetisation and lot of them.

    https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetisation
    on Wiki, Govt. intially admitted not deaths and later admit 4 death of people standing in que.

    For your confirmation BJP aligned news agency news18 have this post titled
    "Govt Finally Admits Four Persons Died During Demonetisation, Says No Study Done on its Impact"

    https://www.forbes.com/sites/timworstall/2016/12/08/indias-demonetisation-kills-100-people-apparently-this-is-not-an-important-number/#43e43e237a7b

    For me even 1 person die is important thing for us.

    #661560
    Difference is Congress waived for Farmers as compared to BJP who waived for Industrialist lakhs of crores.

  • #661574
    Rahul # so it's only through a different sources & not being directly evident of which you initially gave the impression of "#661477".

    In this thread I only intended for the personal experiences & not in general without facts. We are well aware of the readiness of the opposition parties in order to take over the government & therefore it doesn't make any sense to me till the factual proofs are presented along with.

    For the numbers that you have come-up with the links is unfortunate if linked with the demonetization but why the details can't be identified than by the media or by the opposition parties? Don't we feel that a helping hand could have been extended to the families of all those victims if really is the case?

  • #661591
    First you admit that death happen during due to demonatisation and later facts come. The way you are using if and buts are proof that you are giving green signal to BJP blindly. You should read death column in the wiki link i provided.

  • #661639
    Rahul # You have mistaken the whole story because I intended only for what we witnessed directly & not what we got through with the secondary channels & in addition, if we are not on facts than there is no way to believe & in the mean time the media including you are not on facts.

    And I am still not admitting on anyone's death due to demonetization because almost all political parties went against to this but no political leaders including the Kejriwal & Rahul Gandhi went on attending with the funerals. If not on facts then have some logic.


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