Outraged, Bhopalis yet to come in terms with crisis

INDORE: Euphoria over the purportedly 'surgical strike' on black money by the Union government seems to dying down with reports of people suffering due to demonetisation of high-end notes. Sixth day into the currency crisis, Bhopalis are yet to come to terms with the fact that they were 'robbed' of their hard-earned cash in a single stroke, and the next day November 9, brought with it the unforeseen mayhem when even the government agencies refused to accept denomination of Rs 1,000 and Rs 500.

Simme ring discontent is palpable among the people of Bhopal over demonetisation, for being left to sleep on empty stomach, despite standing in queue for long hours. Some of the affected people blurted out " kya apni bachchi ko mar ne de" while some parents had to beg-n-borrow money from their near and dear ones to get their wards' marriage solemnised.

Despite the agony, the Union government's move of targeting black money may come a cropper should it fail to check the source of its generation. "This is a partial surgical strike," said Prof H S Yadav of BU. Terming the measure as impartial, he said that the government must ensure that the generation of black money is nipped at source, instead of letting it get hoarded. The big hoarders are already on the lookout for agents who can exchange Rs 1,000 and Rs 500 demonetised notes for commission as high as 20 pc.

Hawala racket, property deals, and foreign exchange are some of major sources for the generation of black money -- which needs to be nipped. Had preventive measures initiated at an opportune time, the common man would not have had to undergo the ordeal that he is currently subjected to.

A senior nationalised bank official said that the cash-crisis is here to stay for more than a month. This is in contrary to what Union finance minister Arun Jaitley's claim that in the next two to three weeks all the ATMs would start functioning. That too after creating a duct for dispensation of Rs 2,000 note which has become a mechanical problem more than anything else. Some banks have started issuing Rs 2,000 notes over the counter. However, Aditya Manya, a share trader, feels that the move is going to bring down inflation, which in turn is going to impact the rates of real estate pushing them southward.