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Friday, 27 January 2017

How demonetization is affecting common people more than black money holders

By Dr. IM  |  09:25 No comments

How demonetization is affecting common people more than black money holders

Before talking about How the demonetization is affecting to the peoples lets understand what is demonetization?

Demonetization is the act of stripping a currency unit of its status as legal tender. The demonetization of Rs500  and Rs1,000 banknotes was a policy enacted by the Government of India on 8 November 2016.

and the reasons behind the demonetization is to handle the black money in the economy and to reduce the cash circulation in country or to enhance  the use of plastic money which directly vanishes the corruption from the country.
       Now a days, demonetization is affecting common people more than black money holders because the common people have to stand in long ques of ATMs  and bank for their daily transaction which still allows them to withdraw only a limited amount at  once,and on other side the black money holder who funds the terrorists are still free and exchanging  their money safely without any problem and sometime they caught but soon get out of it with their money power.

The common people are struggling to withdraw their own money which they have earned by working hard legally.  politicians and ministers are getting the huge amount of new notes without facing any problem while the common  people  still have boundaries of limit to withdraw 2000 rs per day with a single account. and after a inconvenience of  long ques. if the government had managed this demonetization then these types of problem should not arises banks do not have sufficient notes to distribute even after a many days of demonetization.
                  The small scale businesses man who have never used digital banking  are facing  a big trouble and the crowd from the market has vanishes and market has gone down.it also make a big impact on share market or on common share holder, and the bank people are disturbed in life like never been before,they are working very hard and dealing with a huge crowd. Bank employers and manager have to work day and night.

    And the November is the season of wedding in India, so they are in trouble with demonetization the cash in lakhs which they had withdrawn for the wedding has became useless
 and they have to deposit the cash and waste their time from the busy schedule in to the bank's ques.and we know that its not easy to cover up the black money but off course a cashless economy  is likely to be less in danger to corruption but what about the problem's the common peoples are facing? 

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Author: Dr. IM

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