GBU - DemonetizationGood Bad & Ugly Demonetization Effect
Currency Demonetization is Simply withdrawing the Value of a Currency and Making it Null and void by replacing a new Currency design, Denomination and Value.
INDIA, on 9th November, 2016 Demonetized 500-1000 Currency Notes in the Name of Pooling and Smashing out Black Money which are lied down in India Illegally.Few are with the Decision and Few are Against and the Debate is On from last the day of Demonetization on many News channels and Social media.
Anyway,Whether it is Good or a bad decision common man is getting troubled, Citizens are allowed to withdraw certain number of Amount only from His/Her own account. Number of Citizens are saying that it is a good decision and for that we are ready to bear any problem.
There is a mixed feeling in the society on Demonetization and withdrawal Limits.Let s Check the Good Part of Currency Demonetization and bad part as well.
1) Introduction of New currency :- We have witnessed History its a good part because Demonetization decision is taken very rarely and to witness that we must have luck.
2) Less notes and huge amount in pocket :- Previously when we had 500 & 10000 rupees currency we had to take extra care even while withdrawing 10,000 rupees. So to withdraw amount in multiple of 10,000 we had to carry a special bag which now is not a issue because 5 Paper notes of Currency 2000 is easy and stress-less to carry in pocket and we want to carry multiple in number then also there is not much issue except when we do transactions in lacs of rupees.
3) Colorful Wallet/Purse :- The new Indian currency notes are very colorful. The Two thousand rupees currency note is Pink in color.It feels that the currency is dedicated to Women because Pink is denoted and believed as color of Women.The new Indian Currency of 500 rupees is grayish in color which reminds us the presence of 5 Rupees currency we used to have very long back even before the Green colored 5 rupee currency.
4) Cash Assessment :- After Demonetization I got to know who is holding how much in the family and what are the sources of their holdings and where they used to save their currency.
5) Saving Strategy :- The Indian Prime Minister shri. Narendra Modi introduced a new Saving scheme/strategy for every family by imposing withdrawal limits which allowed middle class family to save their salary that month because of huge Que and out of cash Board at ATM center.
6) Smashed Black money and Black money holder :- The demonetization decision smashed Black money within few seconds and minutes of declaration.Those who were holding Hard cash which was not in economical use became only pieces of paper because there was taxation slab to exchange currency up to Rupees 5 Lac till 31st December, 2016.
1) Long Que and Stress :- Every Indian Citizen was in long Que for hours and few were for days where cash was not available for every Bank account holder which was cumbersome and stressful. to deposit old Currency notes and to withdraw currency for day to day life expenses
2) Shortage of Money :- Due to long ques and shortage of money in banks as well as ATM centers every Indian Family faced shortage of money to spend for daily routine requirements. This shortage was alive and problematic till December end of 2016.
3) Lost Money and Lives :- Many people who did cash transaction in lakhs lost their money value and turned up their happiness into sorrow as there was taxation issue for those holding cash more than 2 to 2.5 lac rupees.Many people who were lower class family and don't have Bank account had to deposit their money in someone else account and this act gave birth to fraud people.
4) Slowdown in Business :- Due to demonetization citizens were having cash crunch which also troubled economy due to which almost each and every business earning got slow and they were unable to earn profit as buyer was having sufficient amount to pay and credits increased which postponed the earnings and profits.
5) Exchange problem :- Almost all ATM's now are filled with new Pink Currency of 2000 rupee which sometimes create problem.We want to buy something costing rupees 50 or 100 and we hold that fresh Pink note withdrawn from ATM machine and the seller get short of Exchange which creates problem and this becomes a negative side of Demonetization.
There were many issues and Problems during Demonetization and Post demonetization but the abow mentioned points tops in good and bad sides of Demonetization
Anyway,Whether it is Good or a bad decision common man is getting troubled, Citizens are allowed to withdraw certain number of Amount only from His/Her own account. Number of Citizens are saying that it is a good decision and for that we are ready to bear any problem.
There is a mixed feeling in the society on Demonetization and withdrawal Limits.Let s Check the Good Part of Currency Demonetization and bad part as well.
Good Side of Demonetization
1) Introduction of New currency :- We have witnessed History its a good part because Demonetization decision is taken very rarely and to witness that we must have luck.
2) Less notes and huge amount in pocket :- Previously when we had 500 & 10000 rupees currency we had to take extra care even while withdrawing 10,000 rupees. So to withdraw amount in multiple of 10,000 we had to carry a special bag which now is not a issue because 5 Paper notes of Currency 2000 is easy and stress-less to carry in pocket and we want to carry multiple in number then also there is not much issue except when we do transactions in lacs of rupees.
3) Colorful Wallet/Purse :- The new Indian currency notes are very colorful. The Two thousand rupees currency note is Pink in color.It feels that the currency is dedicated to Women because Pink is denoted and believed as color of Women.The new Indian Currency of 500 rupees is grayish in color which reminds us the presence of 5 Rupees currency we used to have very long back even before the Green colored 5 rupee currency.
4) Cash Assessment :- After Demonetization I got to know who is holding how much in the family and what are the sources of their holdings and where they used to save their currency.
5) Saving Strategy :- The Indian Prime Minister shri. Narendra Modi introduced a new Saving scheme/strategy for every family by imposing withdrawal limits which allowed middle class family to save their salary that month because of huge Que and out of cash Board at ATM center.
6) Smashed Black money and Black money holder :- The demonetization decision smashed Black money within few seconds and minutes of declaration.Those who were holding Hard cash which was not in economical use became only pieces of paper because there was taxation slab to exchange currency up to Rupees 5 Lac till 31st December, 2016.
Bad Side of Demonetization
1) Long Que and Stress :- Every Indian Citizen was in long Que for hours and few were for days where cash was not available for every Bank account holder which was cumbersome and stressful. to deposit old Currency notes and to withdraw currency for day to day life expenses
2) Shortage of Money :- Due to long ques and shortage of money in banks as well as ATM centers every Indian Family faced shortage of money to spend for daily routine requirements. This shortage was alive and problematic till December end of 2016.
3) Lost Money and Lives :- Many people who did cash transaction in lakhs lost their money value and turned up their happiness into sorrow as there was taxation issue for those holding cash more than 2 to 2.5 lac rupees.Many people who were lower class family and don't have Bank account had to deposit their money in someone else account and this act gave birth to fraud people.
4) Slowdown in Business :- Due to demonetization citizens were having cash crunch which also troubled economy due to which almost each and every business earning got slow and they were unable to earn profit as buyer was having sufficient amount to pay and credits increased which postponed the earnings and profits.
5) Exchange problem :- Almost all ATM's now are filled with new Pink Currency of 2000 rupee which sometimes create problem.We want to buy something costing rupees 50 or 100 and we hold that fresh Pink note withdrawn from ATM machine and the seller get short of Exchange which creates problem and this becomes a negative side of Demonetization.
There were many issues and Problems during Demonetization and Post demonetization but the abow mentioned points tops in good and bad sides of Demonetization
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