Recently a bold decision taken by our respected PM Mr. Modi Ji by declaring the demonetization of Rs 500 & Rs 1000 note had definitely affected the people holding black money. Some people are against this and some are looking forward with hope that something good will happen to our country and to common man's life. Lets see what kind of challenges a common man is facing irrespective of his/her profession.
1. Lack of Money in ATMsMany people depend on ATM service as it's easy to withdraw money and it also saves a lot of time and hassle. Due to demone, there are long queues and inspite of people patiently waiting for hours, they are unable to get cash. Also many don't have the time to go stand in queues due to several issues like old age or bad health etc.
Source: The Hindu
2. Currency Change not AvailableMany people who are getting Rs 2000 note from banks or ATM are not able to get the change as none of the shopkeeper is ready to give change of Rs 1800 on purchase of Rs 200 so change is a big worry now a days to common person.
3. Usage of E WalletsUsage of E Wallets is one of the best solution but challenge is that many people who are of old generation don't use smart phone and if they use then also big ratio among them is of people who don't feel secure on transferring the money through E Wallets
Source: Lets talk payments
4. Banks unable to feed their CustomersYou can still find long queues of people waiting outside banks for their number and some of the times it happens that after long hours of waiting they come to know that cash is finished and now they have to come again after some hours or need to be in queues tomorrow again. It all shows that banks are not prepared enough to feed their customers.
5. Old and poor people losing livesIt's been in several news channels that some of the people who are not well or are very weak have lost their lives due to standing in queues for long hours. But sad part is no one is ready to take responsibility of such activities.
We are sure that you guys are also facing a lot of similar challenges but as hopeful Indian citizens we have full trust and faith in our government and this move will surely change our lives for good. Fingers crossed for a better India !