Despite the difficulties faced by them due to demonitisation of Rs.500 and Rs.1,000 notes, most of the middle income and low income group people hailed the move as a ‘bold decision’ intended to weed out black money and eradicate corruption.
There were some who felt that the sudden announcement, without making adequate alternative measures to ensure greater availability of smaller denomination notes, should have been avoided.
Special counters sought
Special counters should have been opened at bank branches to disburse Rs.100 notes in exchange for Rs.500 notes.
The banks should have been issued instructions a couple of days ago to load the ATMs with Rs.100 notes in place of Rs.500 and Rs.1,000.
The move by the government was the hot topic of discussions, wherever a group of people met.
Around 7.30 a.m. on Wednesday, a group of men and women, involved in sweeping the roads at a colony, were talking aloud:
“We having nothing to worry. We can exchange Rs.500 and Rs.1,000 notes up to Rs.1 lakh or even more. Only those who indulge in corruption have to worry.”
“The Prime Minister has taken a bold step. The move will see the corrupt trying all the means at their disposal to exchange their black money. They may offer Rs.1 lakh and take Rs.90,000 value of smaller notes,” another group of morning walkers were seen discussing at the East Park at Madhavadhara VUDA Colony on Wednesday.
“It is not so easy to weed out corruption. The black money hoarders will come out with new ideas to counter the move,” countered one of the group members. Finally, they all agreed that it was a good move.
“The Prime Minister’s announcement, designed to flush out black money from the system comes just a month after the government unearthed undisclosed income of over Rs.65,250 crore though a tax amnesty scheme,” says Javvadi Lakshmana Rao, a resident of Balayya Sastry Layout, Seethammadhara.
“The news which came out at night turned out to be a nightmare for hoarders of black money. Due to closure of banks and ATMs people, who wanted smaller denomination notes, suffered a lot,” he said.
“I went to a roadside food stall and the organisers readily gave me change for Rs.500. Perhaps, they were unaware of the withdrawal of the note,” said Appayyama, housewife from a low income group household.
