Just not in India, demonetization affecting people globally

500-1000-notes

Demonetization move may fetch good results in the long run, but currently it’s creating a serious havoc in general public who are now facing troubles in day to day life.  Getting exchanged old notes with new currency notes and waiting in queue at ATM only to know that there is no cash in it, is ridiculous. Life hasn’t been this difficult before, when for daily activities, wagers and software engineers found struggling for money when there is money in their account but they can’t use it. The irony of money couldn’t have been worse.

Demonetization brought bad times in the nation. At such a juncture, when many daily wagers couldn’t have a proper meal due to the fear of standing in queue at banks and ATM’s at the cost of their daily income, things aren’t better for well offs staying abroad. For Indian citizens residing abroad and foreigners those planning a visit to India, the fun part isn’t the same anymore.  They might have some plans of meeting Indian friends and visiting India’s historical monuments, but now they can only think of how to get enough cash in hand.

Indian economy is highly dependent on cash, besides few exceptions. Be it street snacks stores to ticket counters of railways at small stations.  Countries like Singapore, Malaysia, Sri Lanka, Nepal where Indian population is a bit denser, there are options to change to Indian currencies directly from local ones. Rather changing it into USD first, this foreign exchange has two benefits- Firstly there is not much loss of money in the name of exchange rate. Secondly, you won’t be dependent on another forex office to get the dollar changed after landing in India.

Travel advisors make sure people visiting India must carry Indian currency before boarding the flight. However, the recent demonetization has left tourists in tension. As per Sreyashi Sen, an entrepreneur in Singapore, all the forex offices where they would get Indian currency, have stopped changing money to rupee. Leading forex like Mustafa has also put a board outside saying ‘No INR’. As per the media sources, Sen’s visit to Goa early next week would have count some extra bucks when she lands in India to get currencies changed. Moreover, if among the few available forex counters in Goa are found non-operative, by any chance, she would be left at the mercy of god.

Idmantzi, a Mexican citizen has came India for a visit is currently halted at Darjeeling in West Bengal. She is a solo traveler without any acquaintance in India. She was carrying a credit card from her country, which isn’t operating in India. The cash, she carried, is in Rs 500 mostly, which is refused by the hotel and other places there.  At last, she was left with no option but to ask favour from her embassy, which then rushed to Darjeeling and bailed her out.

However, these miseries aren’t enough as there is another similar incident happened in Kolkata where an old couple who went to visit their son in Malaysia had a tough time returning home from Kolkata airport. After landing at airport yesterday, the pre-paid counter didn’t accept the notes they carried a month back, forget booking a taxi through apps, for they don’t own a smartphone. At last, a normal yellow taxi dropped them on the condition of paying full Rs 500 without any change in return. The septuagenarians had to shell out Rs 500 for a distance of mere 10 kilometres. Possessing a great sense of humour, the septuagenarian man told the author, “We don’t have any black money. But a note of Rs 500 at the time of economic black out.”

 

Wefornews bureau

 

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