Demonetization After Effects — How is the Implementation? #MoneyViewChat

The after effects of Demonetization are now filtering in. First pay day after demonetization and queues and cash outs welcomed people at banks and ATMs. Naturally, we wanted to find our community what they thought about the after effects and the implementation.

The obvious benefits are people going cashless and using digital modes of payment wherever possible. Of course, we are planning our expenses better and spending much less cash than we normally do. The larger impact perceived is on black money and corruption. Those can be measured only in the longer run though.

The biggest pitfall in implementation is the acute shortage of cash that does not seem to abate. On the positive side, more money coming into banks, better sales of banking products and wallets.

Better planning is definitely what most of our community feel that could have been done better. Prepare infrastructure for cashless or phase out currency gradually could have been other steps to better the implementation.

Real estate, agriculture and daily wage workers along with small businesses are those perceived to be most hit by demonetization.

Yes, shortage of cash has been a huge dampener. If that were managed better, this would have been a great move. For many their daily lives and livelihood has been disrupted according to our community. People are adapting as best as they can, helping each other out and taking to digital payments.

With this we rounded up another session of #MoneyViewChat. Do join us every Thursday at 7 pm for some fun, chatter and information @MyMoneyView.