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The Return of the 100-Rupee Note - Ratheesh KrishnaVadhyar's Journal
November 9th, 2016
11:59 am

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The Return of the 100-Rupee Note
I think it was a bold and brilliant move by the Government to withdraw the 500 and 1000 rupee notes overnight - a step taken with the right intentions, and I think it is in the right direction towards controlling the accumulation of black money as well as curbing of fake currency.

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From:(Anonymous)
Date:November 17th, 2016 10:10 am (UTC)

After a week..

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After a week, how do you see the 500/1000 rupee ban now?

-L
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From:ratheesh
Date:November 17th, 2016 10:24 am (UTC)

Re: After a week..

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I still feel the move was with right intentions. But the infrastructure is not well prepared or equipped for this kind of scale, and I think the Government should have anticipated this and planned in a better way. Also, I think it was not a good idea to introduce 2000 rupee note first, as it doesn’t find many takers without sufficient supply of notes of lower denomination. The general paranoia of people in these kind of situations has made things worse, with some anxiously withdrawing and accumulating cash while others who are really in need, don’t get a chance after waiting in the queues for long time in front of ATMs and bank counters. After all this, the “powerful” people who have unaccounted money with them may still find ways to work around all this, so the effectiveness of the whole exercise is yet to be seen.

On the positive side, people have started spending carefully now. No fried snacks for me in the evenings from office café, as I can’t pay by debit card there! 
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