Indian currency Ban..!!

On the 8th November, the PM of India made an announcement on fight to corruption , black money, terror and counterfeit currency.   India's government hopes to flush out tax evaders and make money that is unaccounted for visible for tax purposes. There have been reports of tax raids in many parts of India.

New 2,000 and 500 rupee denomination notes with new security features are being given to people to replace those removed from circulation.A new 1,000 rupee note "with a new dimension and design" will also be introduced in due course said by the govt. 

To be honest this a good change no doubt and I salute the govt for bringing this change as soon as possible before it is too late.   My questions are will this be effective and Is it going to solve the problem? I think we will have to wait and see in coming years. 

As soon as I saw this news online, the very next day I rush to money exchange because I had 4500 Indian currency left with me from my last trip to India in May. The sad thing was that I was unable to exchange my money. The solution to my problem is to go back to India before 31st of this year and deposit the money into my Indian account. 

I'am not very sure about my visit to India this year. Will have to see if my money is going to be a waste or not? 

I would also like to share some of the most disturbing news I read online on relate to this currency ban in India. The hardest hit are the poor and middle class society. 

 The farm labourer has traveled nearly 80km (49 miles) from his village with his mother and his 10-year-old son Mohit Kumar, who suffers from blood cancer. The trio had brought 5,000 rupees for the trip to cover food, travel and lodging expenses, only to find that most of their money is now effectively worthless.Auto-rickshaw drivers and hotels are not accepting 500 rupee notes and that is all I have. It's been such a struggle to feed my family, and my son will have to sleep on the pavement tonight.

His mother, Pushpa Devi, says they have already spent all the 100 rupee notes they have.  Mr Kalamuddin's problem is likely to be a common one in India, which is overwhelmingly a cash economy and where many daily-wage labourers do not possess formal identification or bank accounts.

I really wish that the govt make the changes in a systematic and organised manner than I guess the people will not suffering be as much. There is an absolute lack of co-ordination to this problem from the Govt side.