When Prime Minister Narendra Modi on November 8 said that Rs 500 and Rs 1,000 currency notes would cease to be legal tender within a few hours of the announcement being made, the demonetisation move was lauded by some as a major assault on the flow of black money, fake currency and corruption. Even as most people rushed to get their existing currency notes exchanged, few could foretell the extent of cash crunch that would befall the common man in the days to come.
However, ever since banks and automated teller machines (ATMs) resumed exchange of old notes and withdrawal of new currency, the queues for these seem to only be growing. While some continue to laud the government for its initiative to cleanse the economy for the long-term good, many Indians have been facing immediate hardships for want of usable cash in hand.
However, ever since banks and automated teller machines (ATMs) resumed exchange of old notes and withdrawal of new currency, the queues for these seem to only be growing. While some continue to laud the government for its initiative to cleanse the economy for the long-term good, many Indians have been facing immediate hardships for want of usable cash in hand.
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