Currency note exchange

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The last three days have been a tryng period for every one in India. the government has begun a campaign to unearth unaccountable money and corruption by declaring Rupees 500/- and 1000/- notes invalid. There is a long queue in every bank to exchange or to deposit old currency notes before 30th December which is the last day for such transactions. Opinions are both for and against the move. People are happy that action is being taken against corruption but are unhappy their day to say transactions have been disrupted. Queues are growing by the day. Only government hospitals and petrol pumps are allowed to transact business using old notes. ATMs have run out of cash and people are short of cash for buying essentials. There is cash for every one but not available all at once. Things may take a few days to normalize. It is just an issue of changing to a new currency. A small inconvenience for a good purpose. Two hours in queue were sufficient for most people. An hour this way or that, is to be expected. And this issue is just for one day. Yes I know that it may be life or death situation for some. Some special arrangement could have been done in such cases. Corruption cannot be totally eradicated.... only minimized to the extent possible. People are exchanging cash for him. But investing in gold is a temporary solution to covering up black money as both cash and gold are vulnerable to income tax raids. Gold can be hidden in lockers. But any raided assessees will have to give their locker details and surrender the keys for inspection. Locker details are available from respective banks. The nice thing is that people coperate with the bankers patiently and vice versa. People have full faith that their money is safe. No violence reported anywhere. There is cash for every one but not available all at once. Things may take a few days to normalize. Queues have not become any shorter. People's patience is getting shorter. But they are still cooperating. Cash is running out in banks by afternoon and people have to come back again next day to deposit or withdraw money. New notes are constantly being printed and sent to banks asap. So hopefully the worst is over. the bright spot in this whole episode is that a lot of corruption money had been blocked from the mainstream and cannot be used for drugs, militancy and violence. The naxalite and kashmiri armed mitilitants have suddenly become quite. There is no stone throwing by public in kashmir as there is no money distribued to incite violence.