While the move to demonetise existing Rs.500 and Rs.1000 notes looks sensible, it is proving to be a hindrance to common people. The rich and powerful, whose money is stashed in tax havens outside the country, are leading hassle-free lives.
More importantly, if the Finance Minister is more worried about India’s security, why hasn’t any action been taken against all the black money flowing to cricket, business, etc.? What action has been taken against those whose names appeared in the Panama Papers? Supporting big sharks and catching small fish does not augur well.
Devadas V.,
Kannur
The media is full of reports about serpentine queues outside banks. But when some of my relatives and friends and I went to the bank, we did not face any difficulty. The bank had made appropriate arrangements for smooth conduct of transactions. I think the queues are exceptions. In matters like this, the media should focus on general cases rather than on exceptions so that undue panic is avoided.
M.D. Ravikanth,
Chennai
Since morning, TV channels have been showing long queues in banks. Some showed senior citizens waiting patiently to exchange old notes. The most heart-rending scene I saw was of a frail 80-year-old woman standing with great difficulty in a queue in a Mumbai bank. Is it not the duty of bank officials everywhere to ensure that senior citizens stand in separate queues and are not inconvenienced for long hours? This doesn’t seem to be the case. In a society where old age homes are becoming a necessity, does anyone even care about how senior citizens are treated?
A. Mohan,
Chennai
On the day after the announcement, there were mixed reactions from people. But many common people I spoke to cheered this decision despite the fact that they are facing problems in the short run. This shows that people can tolerate some inconvenience if it’s for the right cause: for national security and the betterment of the country. Hope this decision is the right one and curbs the menace of black money.
Sandeep Yadav,
Jaipur
One may disagree with the Prime Minister on a hundred issues, but one cannot deplore this move. The bold stroke of demonetisation may rattle people but it will definitely inject dynamism in the moribund economy. Such a shock is warranted as the rich and influential have had too long a honeymoon.
M.A. Siraj,
Bengaluru
This move cleanses the economy of fake currency but not all black money. There may be unaccounted money in overseas banks and some may have invested in assets. To make the transition smoother, the government could have issued a circular of what the common man should do and what options are available for traders in small towns and villages where a cashless system barely exists. Nevertheless, this replacing of notes should be a regular exercise. Perhaps it can be carried out every 30 years or so so that there is no counterfeit cash.
Praveen Kumar T.B.,
Hyderabad
