Indians withdrew from Rs.2,000 Currency note, long way before it was withdrawn yesterday.
More tan 70% of the people polled on Twitter said, they do not have even a single Rs.2,000 note at the time of poll. Numbers would be 99% in rural India, easily.
Yesterday Reserve Bank Of India announced the withdrawal of Rs.2,000 currency notes from circulation. However, they will remain in circulation till 30th of September, and be a legal tender also; as that's the last date, on which citizens of India can exchange their Rs.2,000 currency notes with other denomination.
This is way different than, what happened at 2000 hrs on 8th November 2016, when in a matter of 4 hours, Rs.500 (old currency notes) and Rs.1,000 currency notes ceased to exist and there was sheer panic all across the country and mayhem ensued for many days to come.
The 8th November 2016 "demonetisation" brought a new wave of digital payment, which was no less than a Tsunami. Now right from a cup of tea o a brand new car, you can pay digitally through your phone, almost everywhere in India.
While the Rs.2,000 notes were brought in with much fanfare and major media channels which are controlled incognito by the BJP led government, had some seriously funny explanations of the revolution unfolding. They brought in the new Rs.2,000 currency notes with explanations like, it contains a nano chip, wich can connect directly to satellite. The nano chip would directly ping the offices of Income Tax Department, if they are hoarded in large amounts.
All said and done, The Government of India, stopped printing Rs.2,000 currency notes in just 2 years from launch, because except black money hoarders, no one wanted it.So essentially, for last 4 odd years, no new Rs.2,000 notes have been printed; but managing the old ones adds burden on the system.After all, inventory control of currency notes, which hardly only a few wants, is not a small task. It consumes, time and effort; along with the space.
Unlike, 8th November 2016; hardly there was a murmur by the general public on the withdrawal of Rs.2,000 currency notes; it was more of fun making of the "demonetisation" policy of Narendra Modi led government, which led to nothing.
The grandiose claims of eliminating black money, also fell flat on it's face, as the pictures of recent cash seizures by CBI indicate.In fact, earlier it was difficult to store Rs.1,000 currency notes in large numbers earlier; and the BJP government actually halved that trouble by introducing Rs.2,000 notes.
A poll was run by 99 Goa on Twitter, asking Twitterati, how many Rs.2,000 currency notes, currently they are in possession, to have a tiny tiny dipstick of what is going to unfold, and how much effect this "withdrawal" would happen on common people.
Twitter is a good place to run this poll, because most likely people to have Rs.2,000 currency motes could be found here. Rest have already switched to Rs.500 currency note or do not use Rs.2,000 note any more.The vast majority of people in rural India, semi-urban and Class B and Class C cities citizens can be excluded easily from the onslaught of the withdrawal.The result of the poll were least surprising :
1.) More than 70% of people said that they do not have even a single Rs.2,000 currency note at the time of poll.
2.) Just about 12% said, that they have less than 10 Rs.2,000 currency notes at present. It could be inferred that numbers would be at the low end of spectrum.
3.) 4% of people said, they have less than 20, Rs.2,000 currency notes at present. We can safely assume, that this could lie between 10 and 15 currency notes mostly.
4) 13% of people said, they did not count. This was placed just as a teaser, but means, that some people who have some emergency cash stored, do contain Rs.2,000 notes, but they are not sure of it.
The poll was shared as a reply to some of the top tweets regarding the withdrawal which were tweeted yesterday and hence the audience was pan-India, and not limited to citizens of Goa only. But, broadly it shares the sentiments of citizens of Goa as well. Obviously, there would be some here too "Who did not count", they would have to slog a bit, in the days to come.
The truth is, India withdrew from the Rs.2,000 Currency notes, long way before, they were withdrawn from the circulation.The decision, was made purely, to ease the pressure on the banking system, and needless to say, Banks forced this upon Reserve Bank of India, and they had to relent.
Tons of statistics are available with every Bank in India, regarding the current use of Rs.2,000 notes at present, and finally Government had to relent under the pressure.