So as the whole world knows that our PM Naredra Modi has announced the demonetization of 500 and 1000 Rs. denomination notes. This had to come sooner or later as this was one of the main agenda of our PM before the elections. He cannot have broken the trust of the people. Well I am not going ga ga about our PM but I appreciate the move.
As our Banks used to say that now no need to visit the branch and everything can be done through internet banking. Well, this is now proving wrong with the decision of the PM. We have been left with no choice but to visit the banks and deposit/exchange the old denominations with the new. No technology howsoever will help to get the old notes exchanged with the new ones.
Saying this, last Saturday I also visited State Bank of Travancore which is bang opposite my residence to exchange the old notes. I had to wait in queue for an hour to get it exchanged with the new 2000 Rs. notes and that too within the limit specified by the PM. I purposely visited the bank just to get a feeler as how the nation is shocked and rocked by one decision of the PM and surprisingly most of the common man has welcomed this move (as against the odds opposing it).
I am not sure and don’t wanna discuss also whether this decision of our PM will help stop corruption or stop black money been piled up but I am happy to see the change in my nation and people welcoming the move. As the last time when I was just 2 years old, our ex PM Morarji Desai had announced the demonetization of Rs.1000, Rs.5000 and Rs.10000 notes. It was way back in 1978 and I was too small to recollect anything. But today’s experience will give a lifetime memory and stories which we will be able to tell our children and grand children for sure.
Many economists have criticized the move and many have welcomed it too. Will this move of our PM work or will it not is left upon the time to decide.
As of now, everyone is running after the change whereas change is needed for everyone 🙂