Reports are emerging that Intelligence Sources have sent reports to the Central and state governments that situations are slowly going out of hands due to the demonetization. It is emerging that the report said things have not changed much on the ground even as we are on the verge of Two weeks since the ban.
[m9ad]
People are still struggling due to Cash Crunch. They have warned the government to quickly take stock of the situation. Reserve Bank of India officials say the new 500 Notes will reach the Banks by Monday and things would normalize by Wednesday. It has to be seen if that happens.
Even though the government has allowed 24000 withdrawal limit for a week, the banks are giving only 10000 to the people. Banks are openly declaring that there is not much supply of the cash from RBI. People are frustrated with this unexpected Cash Crunch.
With November First approaching, things will go even out of hands if remedial measures not taken. People will get their salaries but still could not withdraw them and then there will be several obligations and expenses coming up in the new month. Governments should be very alert.
