Rs 500 and Rs 1000 notes scrapping:

The people in power claims extreme secrecy were taken on withdrawal of Rs. 500 and Rs. 1000 notes. That is people in PM Office, FM office, Party think tank, RBI officials, and many Bank heads were aware of the decision. It is a fact that being part of the Govt they will not leak the information to friends who can take preventive/protective action. The common man thinks they were tight lipped.  

Understand that the RBI has the power to print Indian currency and the government has the final say on a majority of the Reserve Bank's actions. For example, the government decides on the various denominations printed and the design of bank notes, including the security features. So if the RBI is releasing new notes in a weeks’ time, how many people were aware of this decision. The common man thinks they were tight lipped.

Govt says this decision of banning Rs. 500 and Rs. 1000 rupee notes from circulation is to hit black markets down and bring least circulation of black money and fraud. Then why common man believes the Govt in force.

I know many people from the Corporate world, Cine actors, Ex-Cricketers, Industrialists etc., are praising the decision. However, I would like to be on the side of the common man who is confused. This is the festive, marriage, and harvest season for them. Better planning could have helped them tide over the situation as many of them do not have a Bank Account or Credit/Debit Card to help them.

Donald Trump’s victory is a reminder to all those in power that Govt policies has to be people friendly and transparent. Unfortunately, the social media has been hijacked by supporters of such decisions. People with sane voice opposing any thing is being abused or intimidated. Rhetoric by few supporters on social media and internet will not insulate the Government on an election day against un popular policies.

MVR Menon

mvrmenon@gmail.com