Apropos the editorial “Shock treatment” (November 11), the overnight demonetisation of ₹500 and ₹1,000 notes by Prime Minister Narendra Modi shows him up as a populist leader trying to think out of the box for political advancement.
The purported link between funding for cross-border terrorism and forged currency notes goes beyond the grasp of the ordinary people. If the move were to indeed stop the ‘terrorists and drug cartels’ in their tracks, it is long overdue. Those who have stashed away black money in foreign banks do not stand to lose anything. The government seems to have given up its efforts to bring back black money stashes abroad.
The current move comes as a poor consolation for those of us who believed in Modi’s promise to fill each citizen’s pocket with many lakhs. The Government is yet to disclose how much of the additional income from report of unaccounted money was utilised for welfare schemes.
One must say that a raid on 500 or 1,000 capitalists would have proved to be more rewarding. We are used to long queues before ration shops, beverages outlets and theatres screening popular actors. But serpentine queues in front of banks and ATMs are something of a novelty. The hardships the ordinary people are put to for no fault of their own must be seen to be believed.
G David Milton
Maruthancode, Kanyakumari
Make it effective
The effectiveness of the demonetisation of ₹500 and ₹1,000 currency notes would depend essentially on two pillars. It is hoped that the Government has used computer technology (which was not available in 1978 when it tried a similar mission) skilfully to plug loopholes in the previous scheme, track suspected offenders and take the trail to the source of funding. Also, much would depend on the honesty of the personnel involved in the process of tracking, investigating and punishing the guilty.
Lastly, it remains to be seen whether the Government would use the generated information to penalise the involved politicians or rein them in for political gains.
Y G Chouksey
Pune
Raid the rich
The demonetisation of ₹500 and ₹1000 notes seems to have had a big effect on counterfeit currency held by the public as well as terrorists. Some experts feel releasing the high denomination of ₹2,000, ₹1000 and ₹500 notes is not necessary when you want a cashless economy. But India is a country where more than 40 per cent of the people are grouped under poor, lower middle class and middle class, including tiny small scale sector, retail traders, street vendors who prefer cash dealings. Moreover, the general public also feels inconvenienced during travelling. Also, there should be checks from the IT department officials on cricketers, cine actors, real estate businesses and big farmers.
TSN Rao
Bheemavaram, AP
Don’t add to their misery
The Government could have ensured the process of exchange and deposit was smooth and hassle free for the common man. Banks could have issued money to the lower middle class first, for them to meet their essential needs. The cost of labour is above ₹500 a day and making them wait would have compounded their misery.
Vikram Sundaramurthy
Alapakkam, Chennai
The situation of people being caught unawares with non-functional ATMs and restrictions on how much one can withdraw could have been avoided had the Government made alternate arrangements in advance.
R Prabhu Raj
Bengaluru
Stop the war
This refers to “Tussle intensifies: Mistry replaced by Ishaat Hussain as TCS head...” (November 11). The war of words between the Tata Sons and ousted Cyrus Mistry is intensifying by the day.
In the larger interest of the reputed company, it is time to call for a ceasefire lest the reputation earned over a period of time sullies. There are ways and means for rapprochement between the warring groups before it goes out of control.
HP Murali
Bengaluru