4 Years After Demonetisation, Here's What People Have To Say About It
On November 8, 2016, the ruling government introduced demonetisation. What happened exactly? Well, old 500-rupee notes and 1000-rupee notes were scrapped. They were replaced by fresh 500-rupee notes and also news 2000-rupee notes that came into circulation. The objective was to weed out black money from those holding it back in the country.
On November 8, 2016, the ruling government introduced demonetisation. 500-rupee notes and 1000-rupee notes were scrapped, and replaced by fresh 500-rupee notes, and also new 2000-rupee notes that came into circulation. The objective was to weed out black money from the country.
PTI
What most of us remember are the long queues outside ATMs and the struggle to find fresh cash. This continued for a while before things started going back to normal. Cashless transactions became the need of the hour, with online payments becoming a necessity, as money was not always available in ATMs.
It's been four years since demonetization happened, and people are still divided on the issue. There are those who hailed it as a masterstroke by PM Narendra Modi, while others called it a fruitless move. Whatever side you might be on, no one can deny that demonetisation had a significant impact on India and the Indian economy, and it was certainly felt by the common people.
PTI
So, now it is 2020 - how are people taking it? Here's a look at what Twitter has to say:
On eve of #DeMonetisation, let's salute our brave Super Hero @indian_armada, Revolutionary ? pic.twitter.com/qGjcmNCDtg
¡ª Arnab Goswami? (@tadipaar_hun) November 8, 2020
#ModiMadeDisaster ????? ???????????? ?? ???? ?? ?????#SpeakUpAgainstDeMoDisaster#Demonetisation#??????? pic.twitter.com/O5EMIlB10k
¡ª Preeti Upadhyay Shukla (@preeti_u_shukla) November 8, 2020
#SpeakUpAgainstDeMoDisaster #DeMonetisation @IYCOdisha @SevadalOR pic.twitter.com/WdwUpXjYv0
¡ª Gandhi Piyush Ranjan Mohanty (@Piyushr33382909) November 8, 2020
#DeMonetisation #ModiMadeDisaster https://t.co/Lzt7aYv0TU
¡ª jeyankumar (@jeyankumar) November 8, 2020
Hey fellow citizens, it's on the same day, 4 years ago. Never ever forget the date.
¡ª Satya_Vachan (???????) (@Satya_Vachann) November 8, 2020
He requested for 50 days, it's almost 50 months now. ??¡á???¡á?#Demonetisation#SpeakUpAgainstDeMoDisaster pic.twitter.com/pnHeKVfXSR
Tribute to Indian 1000-rupee note on its 4th anniversary of demise. ? #DeMonetisation #Nov8 pic.twitter.com/wsx2bxpl7r
¡ª Shaan Khan (@ShaanKh25103501) November 8, 2020
Happy #Demonetisation 5th anniversary.
¡ª JITENDRA KUMAR VERMA (@jitendra_kverma) November 8, 2020
If anyone of you understood why it was done and have seen the benefit in 1st person, please do share the wisdom.
Has Modi talked about it in last 4 years, even in his #MannKiBaat? If yes, tell me when.
Are media and CAG questioning Modi? pic.twitter.com/ukes9gVqTh
@mehtahansal ?? ?? ?? ?? ?? ????? ?? ??? - Scam2016 ??#DeMonetisation https://t.co/JfB25PqBXq
¡ª Yatin Goyal (@yatin__goyal) November 8, 2020
Yaad he na #DeMonetisation? Bhule to nai na.... #DemonetisationDisaster https://t.co/wSzxw5KWk2 pic.twitter.com/khJeZGdGbD
¡ª Bhartendu Sharma (@Bhartendulkar) November 8, 2020
Not the happiest of memory for most people.
In the midst of cash crisis, micro ATMs, Paytm and countless other ways to manage online transactions came to the fore. The Rs 2000 limit on one transaction did not help either, so people carried multiple debit cards in order to be able to withdraw a significant amount of cash. Even now, the public is divided, with a large chunk of people still demanding an explanation of how exactly this move benefitted them or the country as a whole.