Amidst the breeze of demonetisation which has swept away the entire nation , there are new developments, announcements being announced for every new day . More Restrictive guidelines for people on the process of withdrawals and deposit . Exchange of banned notes is now totally abstained for Over-the-Counter transactions at bank branches. The notes can be exchanged at RBI offices only.
Demonetisation is indeed a well planned move. To curb corruption and menace of Black money , this move was inevitable. The Hon’ble Prime Minister has undoubtedly taken a big step in the history of India .He confessed himself that there would be pains to bear but the final outcome would definitely be worthwhile.
There was a series of reliefs granted to the public to smoothly sail through the 50-day window which ends on 30th December. Exemptions like usage of banned notes at hospitals, railway ticketing counters, petrol pumps, crematoria amongst other places were granted to the public. This was really thoughtful of the Modi government, indeed!
The dates for using Rs.500, Rs.1000 notes usually got extended to ease the functioning of daily activities. Earlier 24th November was announced as the last date for usage of banned notes. However, the date got extended to 30th November.
During the evening of 25th November, a shocking news was aired. According to the news, the demonetised notes of Rs.1000 denomination are totally banned and cannot be used to trade anything, anywhere. Nevertheless, Rs. 500 notes can be easily used at the specified host of places. One major addition to the list of places was Mobile recharge centres for the purpose of prepaid mobile recharge . Quite a relief. Isn’t it ?
Prime Minister Narendra Modi has consistently assured that public’s legitimate money is completely safe. He said , “ Every person has a right to spend his/her money. No one can take anyone’s money. Now people can spend through mobile technology also.” He added to his statement ,”The world is changing . We must move towards a cashless economy.”
Well, what has made news today is an excerpt from the Narendra Modi statement stating,” Those who are criticising the Demonetisation don’t have problem with the government’s preparedness, they have a problem because they didn’t get time to prepare(to turn black money into white) .”
Demonetisation has garnered support from various corporate houses along with public. The major pain is on account of inability of the public to withdraw their own money. Ever growing cash-crunch in the economy has aggravated the pains of the public. But the good news is that people are ready to bear temporary pains to bolster positive results of the demonetisation decision .