Bengaluru: We want change! The pursuit of change has brought India out onto the streets, even if it's not the sort of change that immediately springs to mind!
The scramble for valid currency continued on Day 2, with long queues comprising senior citizens and parents clutching toddlers. Several banks cancelled the issuing of new denomination notes, asking customers to return in the evening. ATM operations were expected to resume on Friday morning, but shut quickly after the early-morning rush emptied them of all their cash. Customers said that no new Rs 500 and Rs 2000 notes had been made available at ATMs.
Meanwhile, banks have responded to the rush by setting up special counters to provide change and deposit money. A minimum of two officials have been deputed to interact with customers.
As expected, chaos also prevailed in fuel stations, grocery stores and pharmacies. A handful of vendors, along with government agencies like BESCOM and BWSSB have allowed consumers to use the old denominations. Transport proved a problem, however, as autos and cab aggregators have refused to accept old notes.
According to bank officials, the situation is likely to return to normalcy by Sunday. "On Saturday, we are expecting a bigger queue with more working professionals turning up to return old notes and deposit money," said a customer care representative of a private bank.
It’s a masterstroke, says HC, rejects plea
Observing the central government’s demonetisation move as a masterstroke, the High Court on Friday rejected a PIL filed by Mohammad Haroon Rasheed against it. He had filed the PIL, citing that majority of the public who are not tech-savvy are facing lot of hardships due to the sudden move, which was also violated the RBI Act. The court said that hiccups are common when such an enormous exercise is undertaken.
The central government submitted that demonetisation was implemented as parallel economy was ruining the country. ‘First, clear govt lands encroached by rich, powerful’The High Court on Friday observed that the rich and powerful people are influential and the state should take steps to first clear public lands encroached by them.
The court was hearing a PIL filed by the Namma Bengaluru Foundation in 2013, seeking recovery of lands encroached as indicated in the reports submitted by the Joint Legislative Committee and another report of the Task Force for Recovery of Public Land. The PIL also sought prosecution of government officials and private parties responsible for grabbing public lands.
Earlier, the petitioner’s advocate argued that it is the rich and powerful who have encroached large parts of public lands but the state has been mostly clearing the encroachments by the poor in small parts. The court observed that the rich are influential and the state should take steps to clear encroachments by the rich and powerful.
The state had submitted to the court that it recovered 2,54,248 acres of encroached government lands by January 31. Of the total 64,26,010 acres of government lands, 1,3,05,878 acres of government lands had been encroached. Around 8,36,219 acres of government lands are under litigation, and the remaining 4,69,659 acres of lands were encroached and so far 2,54,248 acres has been recovered. The case stands adjourned.
E-transactions see a surge
Demonetization has, not surprisingly, led to a surge in electronic transactions. Even owners of jewellery stores and wedding halls, who usually insist on cash, have succumbed to the pressure and are allowing debit and credit card payments as well as online transfers.
Several choultry owners in and around Vijayanagar and Basavangagudi, usually take only cash to facilitate payment of their vendors. “Today (Friday) is an auspicious day for marriage and all the choultries have been booked. Most people were unable to pay in cash, so we accepted cheque and online transfers,” said Mr. Venkatesh Kumar, who manages a choultry in Malleswaram.
Schools in confusion
Hundreds of city schools affiliated to state board are finding it very difficult to collect their monthly fee. “This is how we run our schools,” said D. Shashikumar, General Secretary, Karnataka Associated Managements of English Medium Schools. “The initiative is a good one, but it hasn’t been implemented properly,” he added.
Rumour mills target politicians
Politicians, bureaucrats and real-estate tycoons have been the butt of many a joke on social media and fallen prey to a rumour or two, as well! On Thursday night, all roads leading to MLA Bairathi Basavaraju’s Hennur Cross home were flooded with thousands of people after a rumour on social media said he was giving away Rs 10,000 to each family! An irate Mr Basavaraju, however, refuted these claims, alleging that they are the work of his “political enemies.”
Basavaraju isn’t the only one. “With the media publishing news about politicians and real-estate tycoons hoarding black money, there’s plenty of room for rumours like these,” said a constable.
“On Thursday, there was talk of engineers from various government agencies also giving away money in several parts of the city,” he added. Meanwhile, Muzarai department officials say that temples across Karnataka, Tamil Nadu and Kerala are witnessing an unprecedented rush from state devotees.
The move to ban Rs 500 and Rs 1000 denominations is good. Still, the decision came at a bad time – salary week for working professionals who need to pay for rent and utilities. This class of people has been hit the hardest, as all their payments will be badly delayed by the demonetization process.Landlords expect rent to be paid at the earliest, but refuse to accept Rs 500 and Rs 1000 notes. Adding to my woes is the fact that I have not been able to collect a single rupee from the banks, thanks to the long queues and the short supply of legal tender! The government should not have made this move without fully securing online payment methods in our cash-driven economy. I’m surviving on loans borrowed from friends!
–Shrinidhi M, Working professional
Not everybody has a debit / credit card, especially the financially weak. There are thousands of daily wage labourers who collect cash in higher denominations to keep it safe. I have seen families struggle for a single meal thanks to the government’s decision. In the long run, it will help the country fight black money, but at the end of the day, we must think about the poor men and women who survive in the informal sector. I have faced many problems too, as several hotels and owners of small stores where we get necessities like milk or vegetables don’t accept card payments. I have been struggling for new notes as well, as I can only go to the bank in the evening.
–Chandana Ram, Working professional
