Demonetization- My Personal Views

There is much being written about Demonetization over the last one month. Now these are a few pointers that I have come across. I am a person belonging to the middle class strata and I can definitely talk about how demonetization has affected me or not. I will speak in simple layman language and I guess that it must be the same case with every Middle Class Indian across the country. As a part of this blog I will attempt to speak from my own experience. These are my own views and not imposed on me by someone else.

1. I have a bank account, savings of whatever I earn get deposited into my bank account directly.
2. I have a debit card, with an online affiliation
3. I have a cheque book for issuing payments.

Now lets examine critically each of these statements and see how I have been affected by demonetization or otherwise.

To Point 1. I went to the bank just once to deposit my old Rs 1000 and Rs 500 notes. It was just a breeze. I stood at the counter for not more than ten minutes and that's it. I go to the bank/ATM just once in a month to withdraw cash to pay my milkman, my maid servant, my newspaperman, my car cleaner. I dont miss the 100 rupee note, 2000 or 500 is fine with me.

To Point 2. Since I have a debit card, I use it at most places, for filling my fuel, my monthly provisions, my travel reservations, my family entertainment,and other purchases. Since I have a provision of making online purchases using my debit card, i really dont feel the necessity of having cash at my disposal. For my Home Loan I feel secure transferring money online and that is how it is in most of the cases. I take care of my Utility bills by making an online payment.

To Point 3. I have a cheque book to take care of my flat maintenance charges, my electricity bill.

As far as savings are concerned either the money remains in my account or goes towards a PPF/Life Insurance.

For everything else there is a Master Card. :)

The other issue that hits my mind is the disruptions that are being caused in daily parliamentary sessions. These are elected representatives of the people, and when they do not allow the parliament to function critical laws and Bills get passed for the benefit of common man. Now this is what a MP swears or takes an oath while taking up the high office: " I, having been elected (or nominated) a member of the Council of States (or the House of the People) do swear in the name of God/solmnly affirm that I will bear true faith and allegiance to the Constitution of India as by law established, that I will uphold the sovereignty and integrity of India and that I will faithfully discharge the duty upon which I am about to enter." Now the question is Are they discharging their duty by disrupting the proceedings. A Clear and emphatic NO. Constructive Criticism and Dialogue YES. Personal Tirade-NO. 

As I understand it Demonetization has not not affected me in any which ways. Perhaps its the hoarders and the ill gotten wealth of a select few who need to worry about. Barring those who are shouting slogans at the Parliament there is no protest at all. Perhaps there are no notes around to be freely distributed to motley crowds for shouting slogans.

My view is that Demonetization will settle down and we will slowly move towards a cashless society. There are incentives towards moving to a more secure and transparent digital payment platform. Until then lets learn to swallow a bitter pill. We have learnt to live in filth and the diseases associated with it. Now when someone offers to take us out of the filth lets move on to a much cleaner society and country.