But, obviously lacks the brain to realize the severity of problems that is going to be caused for the common people for next few days, weeks or even more. They say that all Rs 500 currency is paper from tomorrow without giving time to people to exchange the currency they have, the ATM's will not be operational tomorrow and day after (and god knows till when). Banks will not be operational to public till they sort out the things. Even after they become operational, can you imagine the kind of rush that's going to be there?
If a person has only Rs 2000 in his wallet in 500 notes (mind you this is the only denomination that many ATM's dispense cash in or at least that is what most of the ATM's near my place do), how is he going to manage without any valid currency for next few days?There are lots of people who rely on outside eateries which don't have credit card machines. Even the bigger restaurants which do accept cards will have a lower limit on the bill which can be from Rs 300 to 500. What are these people going to do till they can get legal tender. Is that legal tender going to be accessible to most people after the ATM's open? I can imagine ATM's running dry pretty quickly and not getting filled up fast enough.
Can anyone imagine the kind of killing that some people are going to make by selling legal tender in exchange for those Rs 500 notes by taking advantage of the immediate need of the people while the banks are fumbling about to get themselves sorted?
By The Way What did the people with Brains did , we had two Economists in Last Govt ! A simple and strong & decisive move by less educated PM .
There will be issues, those issues are adequately taken care , Please read it thoroughly.
I'm OK with some inconvenience, (remember Odd , Even rule) else you can't bring reforms in this country. We needed something like this.
Give credit when its due, ( I Kept two ** in previous reply , indicating **Conditions Apply) But, realized HE HAS DONE IT !! FULL MARKS...
Happy to have Voted for him.