Extreme Reactions to the Demonetization of Currency Drive

So our Prime Minister told us all on Tuesday who the real boss in the country was. Let the UP wallahs and Tata walas debate on their own bosses. The country knows clearly who its boss is.

The extreme reaction to his announcement is bewildering. You had shops opening way past midnight even of those branded companies whose CEOs tell you how concerned they are for the economy and bullshit. They opened over night to facilitate currency conversion to gold and other expensive items.

And then there was the mad rush to ATMs. Within hours every ATM in the country was bled dry of its hundred rupees notes and other currency. As the PM announced that old currency will still work at Petrol Pumps, each pump was made bone dry as if cars were lurking around thirsty without petrol nd diesel.

This coming from people who want their politics clean and neat. Who rant about at every forum how their government does nothing for them. I feel that the way situation was handled by the government was superb but the way the public reacted was showed an insecure, immature country.

The government managed things well from the top. PM makes the announcement as he is the best person to assure people that things will be okay. I trust him enough for that. But people don't. He got the banks to shut the next day, got his government's men into action with detailed information and procedures to move forward. There was no confusion, everything crystal clear. The RBI moved in tandem with the new currency. In anticipation of huge deposits, the banks have also swung into action trying their best even if they were caught unprepared for such a move.

It was understandable that there would be pain. But people had to over react. As my grocer told me,"'where did all that money go which was withdrawn from ATMs on 8th night? Sure there is enough money in the system."
He was right of course. It is not that we only have big notes in our pockets. There are smaller notes too. Yes, I might have to cut down my shopping a bit, but I won't die, that I am sure of.

There seems to be an unnecessary mad rush outside ATMs and banks as if the country has an emergency declared. Already businesses have accepted that their payments will be delayed, the grocers know that they might have to sell on credit for few days  and no one is demanding a recall of loans right now. Everyone knows that for few days things will not go smooth.

So, the mad rush is unwarranted. If everyone goes in the bank at their own pace, they will get currency. More currency is still pouring in. All that negativity about poor not getting anything is nothing but a dismal reaction to a good action by the government. If people of India were so much concerned for their poor brethren, poverty would have surely ended by now. India has a huge gap between rich and poor and all this hue and cry in social media would really read sad to anyone.

As if we are to prove that we will demotivate the government by not backing a good step.

Things are difficult yes. But they are not desperate either.

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