India's latest crackdown on black money is turning out to be a nightmare for the poor and the middle class
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Three days after 500 ($7) and 1,000 rupee notes were withdrawn as part of anti-corruption measures, hordes of panicky people are thronging banks and ATMS to deposit expired money and withdraw lower denominations to run their lives.
The queues are getting longer and angrier, and despite the government's loud promises, banks and ATMs are quickly running out of cash. Limits on cash withdrawals are not helping matters much.
There are stories of desperate people burning sacks of illegal cash and of people unable to pay for cremations and hospital admissions. Wherever I go - my workplace, the community park, the local market- people are fretting over ways to get some of their own hard-earned money to run their lives.
Chaos
A
kind neighbour swiped his card to take 400 rupees out of a groaning
cash machine and give it to me when he saw my crestfallen face after
the machine rejected my card. Friends and co-workers are generously
lending from their own limited stocks of small cash. After several
unsuccessful visits to overcrowded banks and empty cash machines, many
ordinary people are living on a wing and a prayer
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http://worldnewsdh.blogspot.com/ dakshina fernando
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