It was just another evening, as the mobile app popped out an alert. “Rs 500 and Rs 1,000 currency notes invalid from midnight: PM Narendra Modi”. Coming from a renowned app, it can not be fake, as much as it may seem at the onset.
As I google for more information, there are a few tweets trending in a few seconds. The responses dwindled from hailing versus horrendous call outs, although the hails were more.
The next alert popped out. “In order to curb black money, the higher denomination notes of 500, 1000 are void”. Ah, now we are talking! And that sets out a citizen to think of the many perspectives that could emerge, by and large, for a nation as diverse as ours.
Turns out that there is a list of exceptional places that would continue to accept the denominations for a couple of days, in order to avoid events of major public inconvenience. However proactively considered, there may be a few initial disturbances for the unorganised sector as in vegetable vendors, hawkers and maids who transact in cash. It calls out for an eminent need to go cash free at the grassroot.
On an anxious note, it raises a few questions.
Could this movement prove to be a check mate to any of the corrupt educational institutions, jewellery shops, real estate builders and any party of significance per se that deny bills and demand to be paid in cash?
What about the big players who would probably not have them in cash within the country?
Are banks and post offices equipped to handle this change?
What is with the new 2000Rs note the images of which are spreading viral and why is a higher denomination being introduced again?
What about the foreign tourists who are carrying Indian rupees and were here to spend it?
With all the questions open, even if a minimal percentage of unaccounted money holders were to fall under the radar, that could still be reassuring for the common public that are earnest in paying taxes.
After a lot of thought, I finally remembered to check the safe and found just a few of those notes, mostly belonging to my infant’s piggy bank.
As a common citizen, I do not know all of the intended objectives and if they will be achieved, but it is quite impressing to know that a leader exists, that has the courage to communicate a message that would evoke a plethora of responses in a diverse nation. And the assertiveness to make decisions is a trait, I adore!