Interesting that more than a year after the demonetisation announcement, people are still talking about it. Many rue the manner in which it was announced. For a country reeling under corruption for more than six decades and where terrorist activities funded by unaccounted money threaten the secular fabric of this largest democracy, such a ‘surgical strike’ was warranted. Therefore to expect the government, more particularly the prime minister, to discuss the demonetisation proposal threadbare with the who’s who in politics would only have made a mockery of the whole exercise defeating the very purpose for which it was contemplated.
As a banker, I vividly remember the demonetisation exercise, when people had to stand in queues, fill up details of the demonetised notes and remit the same into their accounts and also withdraw money up to the permitted limit. People from all walks of life, young and old, men and women, all made a beeline for the special counters in the banks where they had their accounts. There were people who were well placed in life and many who had apparently opened accounts under the Jan-Dhan Yojana for financial inclusion. On one particular day, when under a directive from the authorities, an announcement was made to apply indelible ink on the fingers of the customers who wished to deposit the demonetised notes, many standing in the serpentine queue suddenly disappeared.
It was during this period, at a meeting of professionals, my colleague shared his interesting experience. A leading politician who was his client and whose office would normally contact him for any professional guidance, dropped in at his office one evening. My colleague was taken by surprise and thought that the client probably felt remorseful and had chosen to come in person to make amends and clear the arrears of fees.
The politician, without beating around the bush, chose to come to the point straightway. He sought professional advice for liquidation of the demonetised notes in his possession. In the past, my colleague had successfully guided him out of tricky situations. Seeing the bemused look on my colleague’s face, his client wanted to know the reason.
My colleague in all humility said, “Sir, I was just wondering ... for settling my professional fees that is peanuts when compared to the amount now in contention, you always claimed you had no money!”
M S Vaidyanathan
Email: maharajapuram.s.vaidyanathan@gmail.com