demonetisation

The front page of The Hindu dated 9^th December  reported about the catch of huge volume of money (Old and new currency ) and gold during the raiding of the IT department in one of the influential  contractor’s premises  in Chennai. All of us surprised along with the IT officials regarding the source of the new currency possession . Our relatives in villages frequently complain about their several trips to village banks and permanent closure of ATMS just to get Rs 2000 in a week  The whole nation and particularly the media and the eminent economists are  highlighting about the hardships faced by common man due to the cash crunch , the resulting chaos  and likely losses  to the economy through loss of jobs and incomes . fall in demand, fall in investments etc., The PM and The FM are coolly and repeatedly talking  about, “ short term pain and long term gain ” with least sensitivity to the ground realities. Hope   several such raids and seizures of old and new currency and gold would enlighten them about the nexus between the bank officials and  RBI officials and the black money holders and the futility of this massive exercise of demonetisation  to  unearth  black money and directing it towards government exchequers . The bank managers and employees that includes , even the security personnel have acquired new status to boss over the ordinary  account holders and  increase their agony and give VIP treatment to VIP customers and thereby revealing their nexus in currency transfer of the new money