Posted On: April 7, 2017 by aarushi_malhotra
Mr Narendra Modi announced the biggest ever demonetization exercise India has even seen on November 8th 2016. So as to understand the in depth impact of demonetization on the banking sector we visited the Indian Bank located in the Matunga-east area. We spoke to respected Pratibha Patil, Manager of the Indian Bank, “All employees are working round the clock without any break as the number of people coming for deposits, exchanges and withdrawal are very high. The labor class is most affected as they are paid in cash and they do not even have bank accounts. The waiting lines for deposits are long and for withdrawal are even longer due to the cash crunch.
After a month of demonetization, the country is still under cash crunch as banks and ATMS are still struggling to meet the needs of the common people. Pratibha Patil also expressed how everyone is removing their frustration of the bankers but it is not in their control as they are also going on through the same crisis. Banks are doing their best so as to remove the remove the stressor panic among the people.
Everyone in the country is going through the same hassle but everyone needs to understand that this is for the greater good of the country so as to clam down black money, fake currency, menace, terror finding and corruption.