Demonetization Effects: How is the condition now?

Demonetization Effects: How is the condition now?

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Demonetization Effects: How is the condition now?
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It’s been over the month since demonetization has happened in India. Demonetization is the process when current currency notes are made illegal with very immediate effect. Such steps are taken to curb black money from the country. Has demonetization helped to curb the black money? Are people able to get cash from ATMs easily? We will find answers to many such queries here. We would request you all to share your opinions about same. It will help us figuring out the entire scenario in a better way.

 

Has demonetization helped?

The main motive of demonetizing the existing currency notes was to curb black and illegal money from the country. In the first few days, reports were showing positive trends in this manner. People were suffering, but everyone was silent because of the outcomes of related reports that showed growth in achieving the dream of curbing black money with demonetization process. Every one continued with the hope that everything will go normal very soon (may be within a month or so).

Within a month we have seen many reports (TV reports, news reports, etc.in form of) where people were caught with Allen the form of newly launched Rs. 2000/500 currency notes. So it is now difficult to state whether demonetization has really helped curbing black money or not. We leave it to you, do share your views.

Are you able to find cash in ATMs easily?

I am sharing my own experience here. Last month I was able to get cash through several ATMs (it was not easy but cash was there in most of the ATMs). It’s been 17 days that had already passed this month. I have tried all the ATMs that I had tried last month, plus I have visited few other ATMs also. About 80% of the ATMs were hanging the banner “ATM OUT OF CASH”, and in remaining 20% ATMs, long queues are there which makes the entire situation no good than the hell. There were some apps that claimed to provide detail about ATM with cash around your areas but as of now nothing seems to be in working order properly.

This is what I faced in Pune. Do let us know your views/experiences about same.

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