500 Notes Recall – Demonetization Woes Peaks

It has been 3 weeks that Modi announced Demonetization. The long queues at ATM’s reduced, not because of the flow of cash but because of the unavailability of cash in ATMs. Most of the ATMs have been closed with a board hanging out displaying ‘No Cash”.

[m9ad]

Adding to this crunch, the new batch of 500 notes printed and sent for distribution in Telangana, but they were sent back because of the errors found in the notes. This is not a time to make errors as people are struggling for the change and this isn’t the first time that flaws found in the new 500 notes. This should have been resolved already but it has happened again only to make things worse.

Reports say that this instance shows the attitude of government and RBI in relieving people from the cash crunch. If this continues the situation will be carried for quite a long.