My Personal Experience Post Demonetization

I heard the speech of Modi announcing the demonetization of Rs.500/- and Rs.1,000/- and was really shocked and worried whether there would be violent demonstrations by the public against this dare devil move. But, to my pleasant surprise, there were no riots or protests, though the public were put to sufferings in exchanging their demonetized notes by standing in long queues for hours and even being disappointed not being able to get things done and more so, in drawing their own money from banks/atms. Due to recalibration, all ATMS had become non-functional adding further troubles for the common men. Yet and in spite of Media and opposition parties especially Congress, TMC and AAP wishing the demonetization to burst into major upheaval, no major incidents took place – except the most unfortunate deaths of approximately 45/50 persons supposed to have died due their standing in queues for exchange of demonetized notes. Though complete normalcy is not restored, the public had appreciated and supported Modi’s bold step to curb the menace of Black 

Money by a master stroke on the 8th November 2016 announcement.

I had Rs.9,000/- in my possession consisting of 3 notes of old Rs.1000/- and 12 notes of old Rs.500/- for exchange. I had gone to the SBI Branch in my complex itself and had deposited through ATM within minutes, as there were hardly 4/5 persons before me. I got the receipt along with the balance generated by the ATM.

Only a few days after 8th November, I had gone to the Bank again where there were two queues of about 10 persons each – totaling about 20 persons in all – and being a senior citizen, I had straightaway withdrawn Rs.10,000/- - but got all in Rs.2000/- denomination of new currency. Only on subsequent day, I could draw another Rs.14,000/- - again getting Rs.100/- only for Rs.2,000/- on my special pleas and the rest in 6 notes of new Rs.2,000/-. Hence, exchange of old demonetized notes for cash might have been a problem, but, there were no problem in depositing such old notes into your account through the bank or through ATM.  

Some days after 8th November, I had talked to some vendors with whom we are purchasing our daily needs and their comments are worth recording.

The water man who supply mineral water had said: I just gone to ATM and deposited around Rs.20,000/- of old Rs.500/- and Rs.1000/- without standing in queues. I am not in a hurry to get new notes. When I asked ‘how do you feel the move?’, he said: It is a welcome move. Even the inconveniences caused are worth to bear considering the benefits to people like us.

Vegetable Vendor(Lady): Yes, small denominations are in short supply and our sale also was terribly affected. But it is worth the trouble. We welcome the move.

Fruit Vendor: (Malayalee - Gent) Trade was affected and I was also put to difficulties. Modi’s move is quite welcome and no honest person will object to it. In Kerala, the present Government under CPM is afraid that BJP will come to power in Kerala and hence there was Bharath Bandh. The move should have been brought by Vajpayee Government’s itself long back and now Modi had got the credit.

Fruit Vendor (Lady): Modi’s Move is welcome. Initial troubles undergone by us are nothing considering the benefits that will come along to us. When I pointed out to the fruit vendor, ‘Had Modi not made you to suffer?’, ‘Don’t say that and like God, he did good’ – so saying the vendor had raised her both hands towards the sky and said: ‘Maharajan, He is!’

Cart Vendor selling various items: My sale was down. I used to sell around Rs.5000/- per day, but, now I could not sell even upto Rs.1,000/-. But, it will benefit us anyhow tomorrow.

Hence the small vendors dealing only in cash, though had been affected considerably, were all in praise for Modi in one voice – They are having trust and faith in Modi and are ready to face initial sufferings so that India will become a clean country.

Voice of Mass is quite different from that of Media and even the Press were not understood the pulse of the nation. True Journalism had become extinct in India!