The population of India is at the mercy of bankers. The banking people who were begging the citizens to open accounts in their respective banks are now shunting away the customers. In some cases they are suggesting the customers to shift the accounts to some other banks.The flat anwer from the banks is no cash- no cash. What is the alternative , when the bank says no cash… Your money is in banks- But bank says no cash..
SBI, SBH and Andhra Bank staff are behaving as if they are giving us their own money. The jan-dhan accounts and the demonetisation has brought in lot of money into the accounts and the customers or depositors are at the mercy of the bankers.
The distribution of money is going according to their whims and fancies and there in no one to check them. There are some incidents where the customers have beaten up the managers of some banks and also have ransacked the branches.
The PM Modi asked for 50 days but it will take another 3 months for the matter to set right and the banking system should fall in line. Small change is a big problem these days and no one is daring to go out for shopping. Many vendors who do small business have closed their shops and are cursing Modi day in and day out.
The business of money exchange and notes change is at its peak and there are people who are making money out of this demonetisation. In some places the age old barter system has started again. You deliver something and take some other things out that is the equation.
Plastic money and digital transactions cannot be the ultimate answer. E money cannot solve all the issues. There are tweets in the social Media demanding Modis mother to declare her gold first and then ask for other ladies gold and bills .
The BJP leaders themselves are saying that it is like digging their own grave and they might lose some elections in the near future.
Lets wait and see what is in store for Modi.
U.Srinivas
Editor
