For long one of the pastimes of thinkers was to comment and lament about the lack of big bang reforms by the Modi Government, especially in the financial sector. With PM Modi’ address to the nation yesterday, regarding banning the existing 500, 1000 rupees notes which in short would be a lethal blow to black money, counterfeit currency and it’s across the border patrons, the government has embarked upon one of the boldest reform in recent times which is as big bang as it gets.
Though as pointed out by many, implementation remains key and the authorities might be walking a thin line between seamless transition and utter chaos. This move was welcomed by many though some in the media and politics chose to take up their usual position. Here are a few we picked out:
Sarada scam, or the recent sting showing TMC leaders taking cash?
WITHDRAW THIS DRACONIAN DECISION
— Mamata Banerjee (@MamataOfficial) November 8, 2016
I want to know from PM how my poorest brothers sisters,who've recd their week's hard earned wage in one 500 re note will buy ata,chal, tomo?
— Mamata Banerjee (@MamataOfficial) November 8, 2016
Surprisingly the original anti-corruption crusader turned twitter troll Retweeted Mamata Bannerji’s tweet. What has he got to hide? Is this why the AAP donors list is off the site for months now?
Wouldn’t forewarning ‘citizens’ meant they would have taken countermeasures to nullify the threat?
Goodness! Four hours to go….couldn't citizens have been forewarned before this shock announcement? Big Brother government! https://t.co/l4NNi3ciOO
— Sagarika Ghose (@sagarikaghose) November 8, 2016
Rahul Kanwal couldn’t figure out why people were heading to the ATMs. Maybe to withdraw Rs 100 notes? Oh Rahul…
Panicky reactions bizarre. Why are people flocking to ATM machines. Even if you get cash it's probably a note that's not of much use now!
— Rahul Kanwal (@rahulkanwal) November 8, 2016
The film industry, which is said to have crores of black money, was also unanimous in supporting the decision.
Even the aggressive Kashyap, was seen in different moods.
Ballsiest move I have ever seen from any leader.. It will cause a lot of heart ache but Kudos..Super way to make the black money redundant
— Anurag Kashyap (@anuragkashyap72) November 8, 2016
Arjun Kapoor too had a say, but sadly it was like most of his movies: illogical
No not Indira Gandhi it was Moraraji Desai, it’s the 3rd time such an exercise has taken place, but with digital cash transactions gaining traction yesterday’s move might have the maximum impact. Nice try at monkey-balancing though
Super move to phase out ₹500 /₹1000 rupee notes. ????????
Question for the better informed- didn't Indra Gandhi do something similar in the 70s?— Gul Panag (@GulPanag) November 8, 2016
And the ultimate endorsement, case closed now?
Hats off @narendramodi ji. New india is born #JaiHind
— Rajinikanth (@superstarrajini) November 8, 2016
What now for the ordinary public? Read this primer. But in a nutshell all the money in 500 and 1000 rupees notes can be deposited or exchanged in any bank till 31st December. And yes those planning on launching a multi-million dollar startup which would take black money from people and exchange for a commission, the banks will be recording the identities of exchangers.
