R. I. P.

₹500/- and ₹1000/-

"At the stroke of midnight hour when the world sleeps, India will awake to
life and freedom."

- Nehru

"At the stroke of midnight hour, when the world focuses on USA elections,
Indians will be awake counting their money."

-Modi

The Quest for ₹100 notes has begun. Now 100 has become more valuable than a 500. Dad's are in
trouble because the only ones with cash are the kids- Poor yesterday, Rich today. The Ambitious
Demonetising of high-value banknotes has got people to line up at banks, post offices, ATMs,
medical and oil stations. Seems like everyone is trying to put their black money in oil! There
certainly is a need of break from the rollercoaster week. I'd really appreciate if the coming weeks are
regular, uneventful, boring and old.

Another preeminent leader from Gujarat picks up his stick to beat corruption. In a move to curb
down on black money and fight counterfeit currency, Modi government pulls out ₹500 and ₹1000
currency notes from circulation, effective midnight of November 08, 2016. This move makes me
wonder if this is a step in right direction? The allegations that BJP leaders and their industrialist
friends had prior knowledge about the announcement true? Are the conspiracy theories cooked up
by opposition meaningful here? Is Jio, Ambani's way to get rid of 500 and 1000 rupee notes or is this
Gamble leading to ACCHE DIN? To know more first its necessary to be acquainted with
Demonetisation.

Demonetisation is the process of stripping a currency of its legal status. Usually demonetisation is
followed by the process of exchanging the currencies which are being stripped with other currency
notes of equivalent value. Prior to this announcement, there have been two similar instances earlier
in 1946 and 1978. The 1946 attempt was to dig out the money concentrated in the hands of wealthy
businessmen after World War II while 1978 demonetisation was a surgical manoeuvre as only the
truly high-denomination notes were taken out. Thus, the current scenario can be referred to as a
Temporary 'Demon'-etisation of ₹500 and ₹1000 currency notes which has led to despair in people.
People without debit/credit cards can be compared to diners at a restaurant waiting for their food to
arrive while staring at others eating. The fuming man in a waiting line might try to remember his
Best Friends from the Bank. A time may arrive when the ATMs may be smashed into pieces!

But is this surgical strike worth standing in queues? Maybe! One of the main benefits is that we are
becoming fitter. Yes, these long queues have made us Indians healthy. Not only this, these queues
have made India more united and integrated. As we stand together, we chat, debate, borrow pens and
see ourselves as a community. Divided by Religion, United by ATM queues! That's Gandhi's vision
of a united nation. Well on a serious 'note', in this unexpected financial situation there are several
aspects that one needs to incorporate. One of the aspect is to Have a Contingency plan. An
individual must have easily accessible funds for unforeseen circumstances. Demonetisation has also
taught to curb expenses and live within means. Here as an obedient engineer, I have learnt another
important lesson- Practical is equally important as theory!

Demonetisation may have it's own benefits but this move has adversely affected the Indian farmers
and labourers, seldom of them having bank accounts. The policy makers ignored their plight of
basic agricultural needs, purchase for seeds in this crucial yielding season of year. Now these
labourers will have to wait longer for few extra days before their dues in cash are cleared. This may
impact their lifestyle and will have to make purchases on credit. Alas, I hope all ends well for
everyone.

After all the gags and trending tweets about this unexpected move, some questions still persist. Was
demonetisation necessary? Well let the experts debate it. Is it a stroke of genius? Time will tell. For
now lets focus on securing position in the endless, hopeless queue before a Quota system is
announced.
-Sejal Kapoor
D19B
15.11.2016