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Monday, December 12, 2016

How the shortage of cash is affecting people even after a month of demonetisation

As PM Modi announced the demonetisation, a month after that, people across the countries are still facing cash crunch, adversely affecting their payments that made monthly & businesses.


As people are saying that the main reason behind these difficulties, are the ATMs not operating properly that's why the cash crunch continue even a month after the government announced that the notes of Rs 500 and Rs 1000 will not be legal tender from November 8 midnight.

The PM Narendra Modi is appealing to the people of the country to adopt cashless methods to make small or big deals. Therefore it seems to have the Govt is not interested in AMTs Callibration and correcting its error.

After three holidays people are seen queueing up outside banks and ATMs to meet their monthly payments. The many peoples are upset over the banks also refusing payments to customers, saying there is not cash in the bank.

Many banks in Delhi, Mumbai, Banglore, Chennai and many parts of the country have stopped giving cash and have pasted a board outside the office writing "We are taking taking deposits only".

Some people, who also sounded frustrated said, "One month has gone by but there is still no significant improvement in the circulation of money. We are still compell to stand in long queues infront of banks and ATMs where there is no cash".

People also said, The government have gifted Rs 2000 note but that cannot be used to buy milk, bread, fruits or vegetables. These are necessary for the every house, the shopkeeper have not adopted Digital transactions. The govt have taken much time to wipe out the shortage of lower denomination notes in the market, but still are cash crunch continues."

The business has suffered by over 40 to 50 percent as demonetisation has badly hit the trader's purchasing capacity even as the government is appealing to make a push for cashless options to the people.

Some restaurant owner said, Unfortunately, the people are not so enthusiastic to pay by Paytm or Freecharge or any other digital mode. many people come with a Rs 2000 note, whom we have to return them.

But there are some people who are still hopeful that all these problem would end soon as promised by PM Modi who had appeal to the people for cooperation with the government till December 31.

As we all know that the PM Modi had sought 50 days, and now 30 days have passed. We should wait and watch for 20 more days for the situation to improve...

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