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When PM Modi Demonetised Rs 500 and Rs 1000 Notes #IndiaFightsCorruption

Thursday, November 10, 2016 , 2 Comments

What happened?

Tell me your favorite currency note? I am sure a lot of you would reply- Rs 500 or a Rs 1000 note. But off course, given the higher value, the joy of seeing, receiveing and owning these two denomination would be greater than any other note. Not any more.

In a historic turn of events, Indian PM Mr. Narendra Modi in his speech last night, in an attempt to curb the curruption in the country, dramatically and yet thoughtfully, demonetized the 2 currency denomination. Logic? Well, the simplest rationale is to create accountability for the "recoverabale" black money, fake currency and bring more transparency in to the cash transactions in the country. [read it as- making your incognito currency, bank worthy].

The announcement came heavy and totally taxing to a majority of unassuming viewers. I mean, you cannot make one oops two of the most valuable notes redundant just like that! Especially after Diwali and wedding festival when every one is smelling the valuable green currency for their upcoming shopping needs. 

How did it happen?

I was making dinner in my kitchen and could hear my husband parroting the PM's announcement like an excited schoolboy who just saw a UFO. It was in his rarest of occasion that he was watching tv and still talking to me. Men, I must tell you, are so hooked to their news, their TV, our Arnab Goswami [even I like him sometimes] emotionally and religiously.

Before I could convulate his messenger man act as prank, I could hear my phone ringing and whatsapp buzzing with people talking about the move. I dismissed the speech as usual "Swachch Bharat" wherein dear PM actually attacked some currency related mess with his ever efferverscent broom. Yes Bhaiyo and Behno. 



Man, I so much wanted to panic as I recently withdrew quite some rs 500 notes for a prosthetical appendment and grocery shopping. Before I could bring my oat-wheat laden hands closer to mouth and scream in cinematic exasperation- ab mera kya hoga, my cooker whistled.

I was broken from my mindfulness and stumbled into usual thought stupore untill the good sense and some kind of psycho kinesis from PMO, prevailed me. In another dramatic turn of events, my otherwise flat wheat maps started rolling into round and wholesome chapatis. In my usual fervor- will see whatever comes, I retracted back to my aloo-gobhi that was almost cooked and waiting for the green coriander garnish. 

Green Coriander! It reminded me that my fridge is running out of groceries and some other staples. How I forgot to place my usual "Cash On Delivery" order from the big Basket. I suddenly started feeling so victimized remembering about the another bundle of rs 15,000 plus cash stacked in my purse, all in denomination of Rs 500s. I withdrew at the beggining of the month to meet some household expenditure. Now it was truly the time for me to helplessly throw my hands in the air and scream nahhiiiii, while beating my forehead with it. Once again, the oats atta ladden hands came in the way and managed me to distract me from my womanly hitrionics. Mr. Kishore Biyani, I may not be sure about the health benefits of your new oats-wheat aata but they are pretty effective to curb my hammings. [Dudes, I washed my hair this evening, using a more than moderate dose of my expensive Sebastian shampoo and conditioner. Cannot let a freebie atta ruin my crown. We have Indian Government do the honors] 

I could hear some of you say- Kangali mein atta geela [hard stabbed by poverty].

While am unsure whether this brilliant move of honorable PM will be instrumental in turning black money into white or no, it has definitely turned my colorful fridge into white and black. Men, I am not thinking about rushing to ATM to withdraw any change. What if they too disburse Rs 500 to further mock my poor house wife agonies. Being an MBA in finance does not converts your Rs 500 notes into Rs 100 notes overnight, ok! Now I have to wait for at least 2 more days when the new note comes in circulation or my Relationship Manager picks up the call to advise a suitable time to come to back to withdrew some petty cash in denomination of Rs 100 or Rs 50s. I am sure, Rs 100 would have never felt this important in last 10 years at least.

And Mamta dido says it is a draconian decision? haaaw




Who will be worried?
In my humble opnion, anybody and everybody who were not aware of this move by virtue of first info or leakage will not be worried. Every one else from a normal home maker who hides some cash in her stash for a rainy day, to a normal businessmen who works high on cash in hand, to a lower or middle class person and even a cash strapped milieu will be affected by it, at least temporarily.

Rest all, esp the bigger players and politicians extra, am sure would have their own way to their will ;)

Yes, for a middle-middle class girl like me who hates going to bank [unless they employ her], having an amount of cash that is no longer usable and can soon turn obsolete is a big thing. It is not easy to deal with your banker on a normal day. With a situation like this- Banks and ATMs would be running mayhem from Tarantino movies.


Aha! I can see Paytm, Airtel Money and others of this ilk, laughing their way to bank, while we mango people making a beeline outside bank and ATM to get sufficient money to feed our family or fuel our daily expenses in a Raj Babbar world, where no meal costs Rs 15 including the road side vada pav.


My prosthetician refused to accept the cash in that denomination even when they could easily got it exchanged as a registered firm via their bank. And my local Grocery wala is willing to take a Rs 100 ka cheque rather than risking with now obsolete Rs 500 note. So you can imagine the overall economical plight of common man who is not in to black money and any such practices. 

As of now, am throwing helpless glances at my Rs 500 notes, the rush at bank, the "no more cash" taking retail outlets, the long queued ATM and my broken legs. At home, foodless am looking for options that take internet transfers for food orders and is affordable too. Nevertheless, I am looking at the positive side of this movement and pinning hopes that it will deliver sufficient results over the inconveniece it is causing or may cause. 

BTW, next time, that aunty or mamiji hands you that "shagun ka lifafa", am sure opening it in front of them to check the currency would not be called- bad manners! 





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The autor is half Human, half machine. Go Figure or just revel in what I write

2 comments:

  1. It's true the commoners are facing such inconvience. I normally kept some 1500 bucks that I used over a week since I work from home. I am not normally a hoarder but in such a situation, life gets crazy with long bank queues. I feel it's such a sudden decision where Namo should have better prepared the public psychologically.

    ReplyDelete
    Replies
    1. True. At least they could have worked on bringing some kind of operational efficiency. If not then, at least now, they can work on quick facilitation and more.

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