How the country reacted to govt’s Rs 500, Rs 1000 note banned

Tuesday night’s announcement of abolition of Rs 500 and Rs 1000 notes has sparked wide-ranging reactions from across the country. While many say they have been inconvenienced and are being forced to endure hardships, some have welcomed the move.

HT reporters spoke to people in various cities and towns to gauge the public mood.

Hyderabad:

-A Yadagiri Rao, 78, noted Telangana painter: “Last night, I went home in a cab after my painting exhibition. The cab driver refused to accept Rs 500 note and I had no other currency. I had to borrow Rs 200 from my neighbour to pay him. I think Modi should have given at least 24 hours.”

-P Achyuta Rao, 55, rights activist: Perhaps Modi government is habituated to making such last- minute announcements, as it does on petrol and diesel price hike at the eleventh hour every fortnight. Such sudden announcement hit the common people hard.

-P Pavan, 45, Vijayawada: “I may have to postpone my house-warming ceremony slated for November 11. I have no other currency, except of higher denominations. What can I do?”

Chennai:

-Praveen Sudevan, 23, journalist: “I usually eat from the dhabas that don’t accept card payments. I had around 400 bucks on me when the announcement was made. I think it’s a good move by the Centre to curb black money, but I also want to know how this move affects people less privileged such as domestic help and daily wage labourers.”

-Prabhakaran, 42, tea seller: “I’m worried about this. It’s supposed to go after the black money that the rich have, but people like me earn and save differently from people like you. Most of what I make in a day’s work is in change - but what I save after a week’s rent and groceries is usually kept in Rs500 notes. I am confused about what to do - do I need to have a bank account to exchange the money?”

-Shaktivelli, 50, domestic help: “Whatever I manage to save after working and paying bills I usually keep in Rs 500 notes around the house. I have a small sum stashed away just in case - I was hoping to use it for my daughter’s wedding. I have no bank account, and am confused about what I should do now.”

Mumbai:

Abhisekh Pandey, 35, employee at share broking firm: “With ATMs shut for two days I am saving every piece of loose change on me”.

Satish Nayak: Owner, Idli House: “Small restaurants are the major sufferers as we don’t accept credit cards and people are having problems in cash. Business is down 50% since morning.”

Punjab:

Rashmi Sandhu: “I had a tough time paying to the cab driver. I had just Rs 5 00 note and the cab driver was not ready to accept it. After much pleading the driver accepted the currency. I don’t know how will we survive for next two days.”

Talwinder Kaur, wedding in family: “We do not know how to manage the wedding shopping. For two days we are stuck with no ATMs functioning and banks closed. The government should have give us some time to make arrangements.”

Diwakar Sahoonja, trader: “We are not accepting Rs 500 or Rs 1000 notes. We are encouraging people to pay through debit and credit cards. It is just an inconvenience for two days and we are hopeful the new notes will be circulated in the market after two days.”

Alok Diwan, software professional and resident of Panchkula: “We hardly have currency notes in denomination of Rs 100. The government did not give us time to plan. There are long queues outside petrol pumps and also they are not offering any change.”

Shikha Sharma, housewife: “I had gone to buy milk and bread in the morning but the vendor refused to accept Rs 500. There is panic all round and no one wants to take the burden of exchanging this denomination later.”

Kolkata:

Subrata Shau: Businessman, 52: “I am in deep trouble. I have a small manufacturing unit and a lot of transactions happen with cash. With the banks and ATMs closed and all Rs 500 and 1,000 notes out of circulation, my business will be terribly hit for a few days.”

Rina Sarkar: retired teacher: “Only a few days ago I took out Rs 15,000 from the ATM for household expenditure. The entire money except Rs 500 -- five notes of Rs 100 -- emerged in Rs 500 and Rs 1,000 notes. I have no idea of what I am going to do now. The grocer flatly refused to accept the notes.”

Asesh Sengupta, entrepreneur, 41: “I am supposed to withdraw money from my bank and make payments to a number of vendors as I am getting married on December 2 but I just can’t take out the money not only today, but for a number of days. If there is no way out, I may be forced to cancel the celebrations.”

Raipur:

-Rahul Divakar, 34, Bhilai: “There is a marriage ceremony in my family in Bihar next week. I was assigned to buy many things but now I have no option. I have to deposit the cash and wait for the new currency. Each and every friend of mine is suffering from similar situation. What kind of decision is this? There should be a process and people should be given time before banning Rs 500 and Rs 1000 notes.”

-Rajat Khare, Raipur resident: “Rich people never stack notes, rather they cunningly invest in properties, shares, investment schemes and other kinds. It is the middle and lower class like us who stack or save cash and who will be badly affected by this decision.”

-Kamlesh Tiwari, tea shop owner in Raipur: “I have to close my shop for next few days because I have no money to buy anything. I had four notes of Rs 500 (Rs 2000 cash) but it will not work now.”

Trade body reactions:

-Mahesh Singhania, chairman, Federation of West Bengal Trade Associations: “I urge the trading fraternity to declare all India trade bandh & non-cooperation movement for the next 96 hours. The whole economy is bound to collapse at least up to the time the existing higher denomination notes get exchanged with the new currency papers. Educated people may be able to adjust or stand by this shock but not the uneducated ones.I appeal to the legal fraternity to file PIL.”

-Harshavardhan Neotia, president, FICCI: “This is an extremely bold move by the PM and will have a debilitating impact on the parallel economy in the country as well as terror financing. FICCI completely supports this move of the government. “There could be some inconvenience that this change may lead to for the people of our country for a few days. However, we are sure that government and RBI will take adequate measures to ensure that the transition happens smoothly.”

-Chiranjeev Singh, chairman of Chandigarh Beopar Mandal: “The traders are authorised to deposit their sale proceeds into the banks. Small-time traders do not have much problem but the new currency should be supplied in market soon. Debit and credit cards are accetable. We will give credit and take payments later.

Jitendra Barlota, working president, Chhattisgarh Chamber of Commerce: “Hundred rupee notes are difficult to find as most of time ATMs were giving out Rs 500 notes. Small traders were totally dependent upon Rs 500 and Rs 1000 notes, hence they will be suffering for next one month. Secondly, the consumer which is mainly middle class and lower class, will not be able to purchase goods because they have no cash.”

-Ganapati Ramachandran, president-elect of South Indian Chamber of Commerce and Industry: “It is a bold initiative but how efficient would it be, remains to be seen. It would be difficult to carry out business in the short run, but in the long run it would be beneficial. It will change the way business is done in India and India will conform to the globally accepted standards and practices.”

- CH Venkatachalam, General Seccretary, All India Bank Employees Association: The initiative will not help in fighting black money as it is stashed away in foreign banks, foreign currency, gold or other assets. Everyone knows that black money is mostly in foreign currency, in foreign banks, in gold or in properties and less in cash. Which is why, this would not help in detecting black money.”

-Vivek Sahu, spokesperson of Confederation of All India Traders (CAIT): “This is really a surgical strike for businessmen. Businessmen have refused to accept the notes of denomination of Rs 500 and Rs 1000. The trading has stopped totally and buyers are also facing trouble in it.”

-Prashant Bhatia: Ladhu Udyog Bharti, Uttar Pradesh: “The decision of the government to abolish Rs 500 and Rs 1000 currency notes will help eliminate corruption and target black money. The problem for common man is temporary but those who have black money will face trouble, especially the politicians.”

Adarsh Shetty, president of Indian Hotels and Restaurant Association (AHAR), Mumbai:“From morning, patrons eat and then pay us these scrapped notes. Even we have no change to pay them back.”

500 & 1000 notes are Banned In India

Rs 500, Rs 1,000 notes banned: Rahul Gandhi's jibe against PM Modi is unmindful of public opinion

PM Narendra Modi on Tuesday announced scrapping of Rs 500 and Rs 1,000 notes. The surprise move triggered panic reactions. Stay with us for live updates

The Indian PM announced 12 AM of Aug 9 2016 will banned of Rs. 500 & 1000 note.

Because The Money Laundry Is The Big issue IN India

So you get latest news on This Story

The Congress vice-president is deeply agitated. He thinks that Prime Minister Narendra Modi has not acted in national interest. It's not a crackdown against corruption, black money, benami property or terror financing chain, but it is a move by a whimsical Prime Minister who is bent on harassing ordinary citizens of his country.

Rahul took the onus on himself to make Congress' official position on the subject. In a series of tweets, he blasted Modi: "Once again Mr Modi shows how little he cares about ordinary people of this country - farmers, small shopkeepers, housewives - all thrown into utter chaos". In another tweet, he said, "While the real culprits sit tight on their black money stashed away abroad or in bullion/real estate. Well done Mr Modi. Yet another tweet said, "One Q for the PM: How is replacing 1000 rs notes with 2000 rs notes going to make black money hoarding a lot harder?"

Rahul is completely unmindful of the fact that the public has hailed this move — a closely-guarded secret till he made it public — the swiftness of which nobody could have ever imagined in the wildest of dreams. Either Rahul Gandhi has not heard PM Modi's address to nation and the subsequent briefings made by RBI Governor, Finance Secretary and other top officials or if he heard and understood it then one gets an impression, which is not healthy for him, that he is taking side of loaders and hoarders of black money and fake currency

Yes, there would be short term problems for citizens spread across all class from a lowly daily wager to a high ranking executive, from petty trader to a big businessman, but then after a while these challenges before them are surmountable, if the money is legitimately earned. But to say that this amounts to harassment of common men and allows the real culprits to have a free run is a reflection on the top Congress leader's wisdom and understanding.

Even his present and potential allies, like JD(U) and SP are not on his side. The Congress vice-president also seems to be caring little for most common social wisdom that politics is about public perception. By making his stand public, he has not done any service to himself and the party Indian National Congress, he and his mother heads.

He, however, could be right in one broad sense — "all thrown into utter chaos". One potential area where this supposed chaos would reflect most would be in coming elections in Uttar Pradesh, Uttrakhand, Punjab and later in Goa.

It is well known that the cost of elections keeps on rising to new high and new methods of pumping ill-gotten money in elections is devised in each. Neither the funding of political parties, nor is the financing and expenses of the electoral process transparent. The loads of cash stocked by political parties and individual candidates through non-transparent or illegitimate means are used freely. The Election Commission and its observers are always at wits to figure out its spread.

With Modi's announcement to abruptly discontinue existing notes of Rs 500 and Rs 1,000, the huge underground cash pile with parties and candidates have become waste papers. This effectively means that in the coming elections and thereafter, at least for next few years elections will be cheaper — no more transportation of cash in gunny bags, no more transportation of cash in ambulances, something which had sprouted first in 2008 Karnataka elections, no more transportation of cash in VIP and VVIP cars and choppers or in fruit and grain trucks. The Election Commission officials will be pleased to be relaxed a bit. Finance Minister Arun Jaitley said "if elections become cheaper with this decision it's a good beginning."

Besides who wins and who loses, the coming UP elections will throw another curios aspect — how to fight elections with less money or without black money. New innovative methods will have to be found and the political parties — BJP, Congress, SP, BSP, Akali — and other challenges lay there. Those who cannot innovate on campaigning style will potentially face losers' prospects.

Jaitley also responded to Congress' charge that ordinary people would feel harassed. Minor inconveniences could be there but the government was taking measures to minimise those. He argued that it is "rare that government takes a decision that honest persons would feel that it pays to be honest and dishonest persons to worry. This decision will force the way people spend and keep their money."

Kamal Haasan & Gautami

In a development that is bound to shock their many fans, actress Gautami Tadimalla confirmed that she has separated from her partner, superstar Kamal Haasan, ending their relationship of 13 years.

The TOI and IBT reports stated that Gautami put up a post titled "Life and Decisions" in which she shared the reasons for her separation from Kamal Haasan.

"It is heartbreaking for me to have to say today that Mr Haasan and I are no longer together. After almost 13 years together, it has been one of the most devastating decisions that I have ever had to make in my life. It is never easy for anyone in a committed relationship to realise that their paths have irreversibly diverged and that the only choices in front of them are to either compromise with their dreams for life or to accept the truth of their solitude and move ahead. It has taken me a very long time, a couple of years at the very least, to accept this heartbreaking truth and come to this decision," Gautami wrote in her blog post.

Gautami said that she seeking neither sympathy nor assigning blame, in going public about the end of her relationship.

"I have understood through my life that change is inevitable and human nature will define that change for each individual. Not all of these changes might be what we expect or anticipate but that does not, in any way, negate the very real impact of these diverging priorities in a relationship. This decision to set forth on my own at this stage in my life is perhaps one of the most difficult decisions any woman will ever have to make but it is a necessary one for me. For I am a mother first and foremost and I have a responsibility to my child to be the best mother that I can be. And to do that, it is essential that I am at peace within myself," she wrote.

Gautami also alluded to how her relationship with Kamal Haasan started, back in 2005. The star had just divorced his second wife Sarika at the time.

"It is no secret that I have always been a fan of Mr Haasan's since before I came to the film industry and I continue to admire and cheer on his monumental talent and achievements. I have stood by him through all his challenges and they have been precious moments for me. I have also learned a great deal from working with him as costume designer on his films and I'm proud that I was able to do justice to his creative vision in those films. Along with all of his accomplishments to date, I know that there is much more to come from him for his audience and I look forward to applauding those successes," Gautami said.

She added: "I would like to say that I am sharing this monumental happening in my life because I have always lived my life in your midst, with dignity and grace to the best of my ability at all times, and all of you have been a part of my life's journey in so many ways. I have received so much of love and support from you through the past 29 years and I would like to thank you for the many ways in which you kept me going through the darkest and most painful times in my life."

Recently, Gautami was in the news when reports emerged of an argument between her and Kamal Haasan's daughter Shruti on the sets of Sabaash Naidu. The comedy, being simultaneously made in three languages, features Kamal and Shruti, while Gautami was in charge of the styling. Shruti and Gautami apparently didn't agree on the 'look' the latter had come up with. Shruti's spokesperson issued a statement denying any disagreement had taken place.

An industry source had commented on Shruti's relationship with Gautami at the time: "Shruti and Gautami have always shared a good equation. Shruti and her dad share a very lovely and open relationship thanks to which Shruti has been very welcoming of Gautami into their little family. Gautami was present in Chennai for Shruti's birthday bash as well and their comfortable chemistry was there for all to see."

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