Demonetization Effect : 5 interesting observations

The recent bold step by our PM Mr. Narendra Modi has been welcomed majorly, atleast on social media (May be at the back end they are making frantic calls to their clan to stock the "money" in their bank account). I find Social Media a crazy place. It can put anyone on a pedestal unmatched and in a nanosecond can lampoon and bring you down to the bottom rung. 

While this move of removing notes of denomination Rs. 500 and Rs. 1000 from circulation might turn out to be a positive step towards curbing black money and counterfeit currency, it has brought some bit of discomfort to the common man in running the daily business. The announcement was made in a jiffy at night leaving everyone reeling in fear and amazement. Sometime back I had heard of Rs. 2000 note being printed but I never contemplated that it would be in lieu of 500 and 1000s.

Some interesting observations while we all still grapple with the situation

# 1 : It's funny how circumstances can turn the tide. I am sure many like me would have got calls from "dear ones" requesting to put some of their money in our bank account and alluring us with some quick money making in the whole deal. My answer has been plain and polite NO. As you sow so shall you reap. 

# 2 : The very next day of this announcement, My HR Manager emailed us all that salaries will be delayed. For once I  couldn't understand. I do not get salary in cash so how does it matter? Is my company also into illicit trade? When asked, I was told that since in our Business it's the parents who pay to School (in cash) and then the School pays to us, the bundles of notes received / to be received have lost their value. I still can't digest this theory but Mr. Modi you gave my HR a good chance :/

# 3 : The only solace in this situation of cash deficit are the situational jokes being circulated on whatsapp and other social media channels. Some are hilarious!

A great idea by a husband He asks his CA. I have deposited 5 lakhs in wife's account. Are you sure IT people will arrest my wife or should i deposit more?

# 4 : It makes me believe yet again in the higher power and the play of Karma. Today, filthy rich people are having sleepless nights, higher currency has lost its sheen and 100 Rs. note is valued more than a 500/1000 note. Even if we try and pay with a brand new 2000 rs. note, a vegetable vendor will refuse bluntly and will gladly accept a 100. Life can take a 360 degree turn in a nanosecond. Anything can change anytime. Nothing and no one is more powerful than the ubiquitous power.

#5 : Being a Community Manager professionally and having keen interest in Digital Marketing, it's very interesting to see how Demonetization has subtly promoted Digital channel of payments. Amidst this constant conundrum and speculation, companies like Paytm, Freecharge, Zomato are smiling and encashing in with #GoCashless mantra. 

I hope and pray that this move turns out to be for a greater good and  these initial hardships reap the benefits to the economy in the longer run.

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Swati