New Delhi: After the announcement to demonetise 500 and 1000 rupee notes post mid-night of 8th November, the long queues outside the banks and ATMs in the country have been increasing multi-fold. Demonetisation has led to deaths of 25 common citizens , out of which 7 have died while standing in queues at banks. From the common farmers to the truck drivers transporting goods to the market, from small businessmen to the consumers, everyone is facing the harsh consequences of this decision. Especially people in rural areas, where the banks and ATMs are miles away, have had to bear the maximum brunt of the situation.
The lack of 100 rupee notes to buy the daily necessities has hassled the common man. Due to time constraints, it has become difficult to stand in long queues at the banks to exchange the old currency of 500 and 1000 rupee notes. The commoners were under the belief that initially there would be long queues but later the crowds would receed. The Government had also assured the same. However, the queues outside the banks and ATMs are swelling day by day. Even after spending several hours in the line, there is no assurance of receiving the money because in short time the cash in the branches of the banks and ATMs is drying up. Hence, people are facing the challenge to start in new line afresh.
Post the announcement to render 500 and 1000 rupee notes illegal, nearly 25 people have died. 7 of them faced death due to the stress faced from standing in long queues. The kin of the patients receiving treatment in hospital are facing difficulties in paying the bills. Many patients are also facing troubles during hospital admissions.
It is said that 4 children have lost their lives due to lack of availability of medical treatment due to demonetisation. Incidents of attacks by agitated customers on the shopkeepers, who refused to sell the commodities have been reported from New Delhi and some parts of Uttar Pradesh . In Delhi, the police were reportedly required to intervene to control mob fights at the queues outside ATMs. Several similar reports have been coming in of such violence from different parts of the country.
The families which are celebrating weddings, the demonetisation crisis has hit them hard.. No one is ready to accept cheques from us and we do not have enough cash to pay them, is a common complaint of such families. Incidents are been noted in places where newly wed brides, grooms have had to stand in long queues along with their relatives.
The supply of vegetables and necessary commodities has received a heavy blow while the truck drivers transporting these necessities to the market have been starved due to unavailability of cash. Farmers are unable to pay the daily wages labourers, who toil in their farms. At the same time, small farmers are finding it difficult to deliver their farm produce to the market and receiving payments for it. The payments in the markets have fallen, observed the merchants. Some retailers have continued the business on loyalty terms, lessening the severity of the situation.
The transport of commodities is hit by the demonetisation crisis which has led to scarcity of vegetables, onions, fruits, eggs, fish etc. Small traders have reported declined of nearly 25% in the business.
It is reportedly said that the present scenario in the country created due to stagnation of trade is alarming and if it persists for long, then the law and order of the nation will face several challenges. In fact, in some parts of the nation, the danger to the law and order has already begun to be seen.
The tourists and travellers carrying the old currency of 500 and1000 rupee notes have too had to deal with troubles due to demonetisation and have even been made to face starvation. There are nearly 1.5 crore tourists presently in the country, comprising of foreign tourists as well. Currency exchange or cash withdrawal from ATMs has become a herculean task for the tourists.
On this background, Indian Air Force has been summoned to the rescue to ensure faster cash delivery for the masses. Air Force helicopters as well as military transport aircraft Globe Masters are doing rounds to carry cash. Nevertheless, to curb this crisis, the cash flow of lower denomination of 20 and 50 rupee notes will be increased, declared the State Bank of India Chairman Arundhati Bhattacharya. Another significant decision made to culminate same set of people from exchanging 500 and 1000 rupee notes by repeatedly standing in bank lines is that of use of indelible ink. Henceforth, indelible ink, similar to that used in elections, will be used on those exchanging the currency at banks. It is assumed that this will help to control the overcrowding of banks by people for exchanging the notes. Considering the serpentine long queues it seems highly unlikely that the problem of the cash crunch will be resolved in the near future.