The news of the pulling out the notes of Rs. 500 and Rs. 1000 has come like a black cloud for the common people of the India. With Narendra Modi’s decision to banning out the two highest level INR 500 and 1000 seems different for different for the different people.The middle-class people of the India has a lot of financial challenge for the day to day life with buying the vegetable or buying milk for the family. The challenge for the Aam Aadmi began on the Wednesday morning when the fruit and vegetable sellers deny accepting the note of the Rs. 500 and Rs. 1000.
The people rush to the ATM’s by knowing the fact that the 500 and 1000 notes in their wallets will not be accepted by the shopkeepers of the different daily goods. Although, the forget that the government has announced that the most of the ATM will be closed on November 9 and November 10.
The problem is not just it as the banks have been closed for next 5 days as on 9 November and 10 November the bank will be closed as directed by the government of India. And the next three days will be closed on Saturday, Sunday and a national holiday on Monday to follow.
Well, this has been the case for the people who has the association with the bank, but what about those people who just rely on the daily wages and does not have any association with the bank.
47% of the Indian population does not have the bank account and they are main group of people who are struggling.
Anil Yadav, a fruit shop vendor told media wing that ” “I am confused on what to do now. We have several transactions to make in the next two days for purchasing fruits from the market, for which we have already withdrawn money.”
Also, Arunima Sengupta, a clinical researcher residing in Kolkata said that “The poor are going to get affected immediately. Most won’t even have the correct information till Wednesday … also, many people keep liquid cash with them as their banks are located in far away places. What will happen to them?”
Well, lets see how Indians will react to this change in India. Meanwhile, the notes of Rs.s 1, 2, 5, 10 and 100 will continue to run in the India market.
