18 Nov 2016


5 Better Ways the Government Must Use to Handle the Demonetization Crisis

5 Better Ways the Government Must Use to Handle the Demonetisation Crisis

Demonetization is no doubt the burning topic of the entire nation but the post demonetization results are quite horrifying to observe. 10 days ago Prime minister addressed the entire nation and banned the notes of 500 and 1000 Rs. The ruling government believes that this step is going to end the black money from the country. As far as the intention to eliminate the black money is concerned we believe in the Government but recent incidents have shown that the policy was implemented very badly without even planning. People all over the country are facing extreme hardships in dealing with their own money. People are standing in a queue waiting for their turn, crying, Protesting and even dying.  The thing is the nation can’t live like this anymore they want the Government to take some crucial steps to resolves this crisis.

We have some suggestions for the government and have a belief that these steps can play a great role in dealing with this money crisis. Following are the steps that should be taken into consideration:

Action against Those Authorities Who Don’t Accept the Old Notes

In the demonetization policy several authorities and organizations were directed to accept the old notes of Rs 500 and 1000. These authorities include Hospitals, Medical stores, Petrol pumps and other places. But it seems like these institutions are barely following those directions given by the government. Neither private hospitals nor medical stores are accepting the old notes directly violating the government’s directive. In such case strict action must taken against such authorities. Government must keep a check to ensure that directives have been followed by these organizations.

Ration must be provided to the needy people with no IDs and bank account

The Post effects of demonetization are so worse that people are unable to buy meal for them and their family. The situation is getting worse day by day and people with no IDs and bank account are the ones who are being affected very badly. In order to resolve this situation the government must install ration shops and provide rationed food products to the needy ones especially the people with no IDs and bank account. And these government run stores must function round the clock in order to help more and more needy people. Aadhar card must not be taken into account in such crises. Even big grocery shops must be allowed to accept the old notes of 500 and 1000 Rs.

Separate Counters for Old Age and Women with Children Should Be Opened In the Banks

In many places it is found that senior citizens are struggling while standing in the queues to collect their money and even women with children are facing hardships dealing with all the mess around. It is our duty to respect our elders and helpless women and these people must be treated with special care. And the best thing to help these people out is to open a different section or counter inside/outside the bank so that they won’t have to suffer anymore.

Banks and Post Offices Must Operate On Holidays to Meet the Public Demands

In this tough time banking employees must be instructed to work for longer hour. Besides, the banks must operate on holidays to expedite this whole note replacing process. It’s too much effort for the bank employees but this is the only solution to bring the situation into the control.

All the Atms Must Be Functional Round the Clock

Few days ago Finance minister said it will take around 3 weeks to recalibrate the ATMs with the new currency. Effort must be made to make the ATMs fully functional if not with the new currency 100 Rupee note must be involved. Around 2 to 3 ATMs are working in the area of 5 Km with limited amount of cash. So, RBI must expedite the money transferring and recalibration process to make the living easier for the common masses.