In 20:00 Indian Standard Time on November 8 2016, Narendra Modi, the prime minister of India, made a shocking announcement in which he informed people that banknotes with the nominal value of 500 and 1,000 rupees (about $7.5 and $15 respectively) will lose validity at midnight of the very same day. This completely unexpected move threw more than a billion people country into a chaos as the India is still very cash-dependent. He also set the 50-day period for the Exchange of old banknotes for the new series. However, it became clear very soon that the whole operation has serious bottlenecks among which the cash-shortage was the most serious one. Indian currency demonetization was making headlines all around the world at a time as people of India desperately tried to save their money standing in incredibly long queues, where even several deaths were reported. However, there were people who were able to hold the human face and reports of the inspiring acts of kindness can be the right example for us all. This is a list of few of them.
As people were standing deadly queues for their money in front of banks and ATMs, general manager of the Canara Bank have decided to activate mobile ATMs to relieve the situation at least for a bit. As this was his own initiative, the credit goes to him and we can consider this as the first inspiration acts about demonetization – even when there was no pressure on the bank to do it, they decided to do a good thing.
#HumansofDemonetization is a hashtag for the initiative goal of which was to document the course of the process of demonetization in India and it consequences because it will be interesting for the future generations of politicians and common people as well. The truth is that every recorded story or a photo taken is inspiring. For us, the initiative itself is also an inspiration – to think for the good of future generations amidst chaos.
8. Vegetables for the people in queues
For most of the people, endless waiting in the long queues in front of banks or ATMs was inevitable. Such a waiting can easily turn into a nightmare. Fortunately, several farmers decided like those in Jaipur and Chomu districts have decided to distribute their vegetables freely to the waiting people. Inspiration acts about demonetization in India at its best!
Standing in a queue for hours is not only uncomfortable, it can be also dangerous and in some special cases even life-threatening. Therefore we must appreciate all of those good people who were distributing water to the waiting people during the process of the demonetization in India.
Especially among the poorest, there is still a lot of people who don´t have a bank account or any official prove of identity. They are solely cash dependent and the Indian currency demonetization was a disaster which left them even without the chance of getting food. That´s why some people were trying hard to collect food from restaurants and shops and provide it to them.
This is quite similar to the previous item, a mass of people don´t have the access to the media and because of the lack of education, they were not able to understand what is going on. Groups of volunteers were patiently conducting an information campaign through which they helped a lot of people to save their so much needed money. This is was really important and it must be included among inspiration acts about Demonetization.
Not only the standing in incredibly long queues but also the dispatching of the endless stream of people was a very exacting task. Bank workers deserve respect as well and their will to work overtime is one of the inspiration acts about demonetization in India.
Not only individuals and non-profit organizations were helping crowds and bank workers. There were also companies which decided to forget about profit and provided food and drinks for the people. By such actions, they helped the Indian currency demonetization to go more smoothly.
At the top spot of our list, we have decided to put all the Indian people who handled such an extraordinary situation very well and they deserve our respect. Demonetization or any other form of extensive currency reform always send disturbing waves to the economy and society and the process is usually very frustrating to all the people. Indian currency demonetization was of no difference.