India’s cashless society

TThe spectre of demonetisation queues at ATMs and banks returned to haunt citizens in many parts of the country. The warning signs had gone out early from Andhra and Telangana. But the RBI and the government seemed content in the belief that there was sufficient currency in circulation as the ` 17 lakh crore cash in circulation matched preDeMon levels.

It is the common man who, however, knows what a cash crunch is. He sees it in a dry ATM with a notice saying “Out of cash” or “Out of order”. Signs like these sent panic levels up again as only from November 2016 onwards they had suffered long queues and some people even died while standing in line.

Tweeple came out with their knives sharpened when the phenomenon started recurring during festival time and, even more painfully, as the summer marriage season started rolling in. Various shades of opinion reflected the mood that swung to despondency giving way to the dark humour that goes with it.

Is this the great “Cashless society” promised by the Prime Minister and his adjutants after the dramatic announcement of November 8, 2016? While the government says people are hoarding

` 2,000 notes, innocent citizens are saying where do they have the money in the first place to have the luxury of hiding it?

The sarcasm of Tweeple says the tale best.