India Demonetization Scheme

The proverbial slip between the cup and the lip in case of implementation of the demonetization scheme in India. While the scheme is novel, the implementation pathetic.

Not a single ATM in the locality was functional today, serpentine queues outside bank branches which was short on funds, harassed people frantically trying to get their own funds from their accounts without any luck and adding to law and order issues at various places in the country as amount of short denominated currency fast diminishing and those who did manage to get the new high denomination currency notes were unable to get change and hence unable to use effectively and the Prime Minister touring abroad.

Groceries, vegetables, fruit and other supplies at the local stores fast going off the shelf as the grocers unable to get them replenished from the distributors due to scarcity of cash. In short, India is presently at par with Zimbabwe where people are sleeping in queue outside ATMs at night in the hope to withdraw cash when the ATMs would be replenished !