demonetisation

Among all the ill effects of this clumsy demonetisation measure, the most serious one is the loss of trust on the banking system . People who mingle with common people and work at grassroots level  know, to what extent the account holders are  irritated with restrictions on banking operations , the rationing in drawing their own money deposited with the banks with total trust , the non availability of their hard earned savings for the emergency and vital big expenses . Hereafter , people will think several times before putting all their savings in the bank deposits of various types because , The RBI is going on giving new instructions everyday . what is still in store for the honest tax payers and savers we do not know. People will  start keeping  hard cash of smaller denominations at home and adopt highest safety tools and methods . The increasing complaints about the bank employees harsh treatment of those standing in the queue and preferential treatment given to influential customers  and their dishonest activities of few black sheep in bank dealings has destroyed the credibility of the banking system . This is going to affect the economy in many ways.