09.11.16 – A Memorable Day
Shocking, Surprising & News Watching
Rs. 500 & Rs. 1000 Notes will not considering,
People Running, Money Moving,
People worrying & how to settle that Thinking…
Outside the bank – big queue looking,
Entire day cash exchanging & depositing ,
Morning to night – ATM Close/No Cash dispensing with sad feeling,
And when getting cash successfully by hard work, people smiling…..
Unforgettable moment that how situations tackling,
Till December end…Memorable 2016…
It was an unforgettable night on 09.11.16. It was announced that Rs. 500 & 1000 notes will be discontinued. Immediate reactions were circulating through social media, WhatsApp, phone calls and messages. Some of us were continuously watching the updates on television. They showed huge crowd gathered around ATMs, 2 km long queue at petrol-pumps struggling to deposit those banned Rs. 500/1000 notes.
When I went outside, the road-side looked like an extension of the television footage. Huge crowd gathered and ran around haphazardly to settle their cash. Expressions were tensed. People discussed how this sudden decision was taken by our Prime Minister to battle Black money. Social media and WhatsApp was quick to float varieties of gossips, chats, jokes etc.
That entire week, I kept observing the entire situation, with reactions changing and expressions getting more aggressive. It was interesting to witness how people were tackling the situation. They discussed among each other the possible ways to exchange the notes, shared information, called friends and relatives to help or seek help. There were long queue since early morning in front of all banks. Every queue had its own share of stories. Some people fought impatiently among themselves; some fought with the employees or security of the banks. ATM were dysfunctional; there was acute shortage of cash everywhere.
And then there were the volunteers. At many places these volunteers were tirelessly serving water and juice and food packets to people who were aged or were standing in the queue for too long.
In another two days, nothing seemed to improve. Things only got worse. There were ceilings imposed on cash deposit & withdrawal. There were lots of fake and real news circulating on social media and Whatsapp, creating utter confusion. Surprisingly, there were also a category of people desperately exchanging cash through brokers and commission agents at the rate of 10% and even 30% being retained. The percentage threatened to increase more in the days to come, as more people were expected to run out of cash and succumb to these dubious means of acquiring money.
Strange was it to see the roads always bustling and active. During the day people flocked in front of banks; at night they tried the ATMs. The ATMs kept disappointing, but days later when they dispensed new currency notes, the smiles returned and faces looked temporarily relaxed.
Next issue was to get the change for Rs. 2000! The entire market was disturbed, economy was stagnant, transactions minimal, trade suffered especially in retail market due to deficit of sufficient cash. People had turned beggars overnight, despite having money. Only those accustomed to use their debit and credit cards still managed to retain their sanity.
In spite of the endless chaos, strange it is that many believed whatever decision has been taken is correct despite this suffering for short period.