500/1000 Demonetisation: Negative Impacts
While LocalCircles and most of its members have been championing the cause of 500/1000 currency change, citizens have been reporting inconveniences faced from across the country. With this post, we want to seek your inputs on what are those and what are the negative impacts of this demonetisation scheme.
While the goods outweigh the negative impacts clearly, we must understand them and make the Government aware of them so these are also minimized.
We look forward to your inputs! more
While the goods outweigh the negative impacts clearly, we must understand them and make the Government aware of them so these are also minimized.
We look forward to your inputs! more
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it is definately positive step few days hardship one should be prapared but there are politicains certain media & people are taking advatage by standing 4/5 times for excahnage also some bank staff r involved in dubious method so whole systems & govt get bad name more
Nov 16
Some bank officials are now participating in fraud by dispensing in bulk 100 INR notes to some (behind the scene) while the public including ailing and senior citizen wait outside in queue for several hours and are denied because lack of enough cash. Such officials shall be identified and appropriate remedial action shall be initiated. more
Nov 16
Demonitisation may give a temporary setback to the black money launderers, and other anti-social elements. But it is the attitude of the people which must undergo a change. People must make up their mind to pay taxes and keep the money white. They must realise that paying taxes is their responsibility to the society. People will must comply with taxes for two reasons; 1. I think more people will pay taxes if they feel that the money they pay is being used for constructive purposes, such as, peoples' welfare. This was not the impression in the earlier regimes when money was misused more that put for constructive purposes. 2. The bureaucracy is becoming more honest unlike earlier times. So money is not going into bad hands. more
Nov 16
I think the banks and the staff are doing their best. There were too many bogus people in the queues; the govt. should have anticipated this and introduced marking the fingers which they introduced only on the 15. It is difficult to believe that such knowledgeable people did not think of the possibility that those with black money will have stooges to stand in queues. more
Nov 15
My husband who is a terminal cancer patient stood for two hours at the Bank of India entrance, then when his turn came the gates were closed, he came back in exasperation and thereafter was not able to get into the bank and withdraw any money till yesterday evening! My bank was only giving withdrawals of Rs.5,000/- per day and NO EXCHANGE of notes as they did not have enough cash!!! Why was this so bad - because the government withdrew the Rs.100/- from banks and collected it themselves to serve these times. Since August 2016 when I went to withdraw cash at a bank, they gave me only Rs.500/- notes and not 100's, even when I requested for the latter. So I blame the government for this mess. There have to be a minimum of four counters at every bank at these crucial times. One for deposit of cheques, one for deposit of cash, one for dispensing cash and one for exchange of cash. All of us at the local circles advocated the discontinuation of high denomination notes but this was not the way to implement the same. more
Nov 14
