HYDERABAD: While, Indians in India are busy visiting ATMs and nearest places to deposit the small change that they have in their households, NRIs are saying they will save the notes as memorabilia. Some think they will send it with their friends before December 30. What are the NRIs thinking about the demonitsation of Indian currency notes.
Vijay Bhaskar Rayavaram, It Executive, Dallas, Texas
Until now, no government has taken any decision that will impact the socio economic development on such a large scale. It is a terrific move by Modi government. It’s a curb on fake notes printing machines and also, a huge amount of black money will become white. It is like fogging the rat holes. Even though, the government promised amnesty to people who declared their black money and told them that no criminal charges will be pressed against them, it hasn’t reflected much. But this move is more effective. One implication, is there a limit to deposit money? Hopefully, the details will probably explain the process on how much money can be deposited by the last day. I am also concerned about the remote villagers that might be affected by such decisions as the message might not be passed on to them. Lot of NRIs bring currency while traveling. It may not be a big amount but what will happen to it?
There are no clauses for NRIs. Also, it would be better if the government tells us how the corruption will be curbed? What are their next plans?
Kiran Gollamudi, IT Software Engineer, Edison, New Jersey.
I was telling my family that Modi is definitely the incarnation of Kalki. This decision might take a hit on the economy. As an NRI, I feel it is a good move. We should know how he is going to implement it. It’s time the money is invested in defense and farmers as it has been long pending. Such decision will also help people to contribute more.
Srihari Atluri, Software Engineer, Irvine California.
Money laundering during elections will decrease drastically. However, all said and done, the change should come in us. As long as corruption is in us, we will find a way to do things wrongly. We should change and take this as a lesson. As an NRI, I feel, our the value of our properties might go down. However, I am am very happy that finally, the real value of money will come out.
Hemanth Pallavajula, IT Analyst, La Crosse, Wisconsin.
I was smiling and so happy when I saw the news. This is the reason why we elected this government. I am happy that things are turning out the way we wanted to. As an NRI, I am not affected by this decision by any means. I only do transactions through online and everything is transparent. People who have some currency notes might face problems as it is no more exchangeable. But, considering the greater good that’s happening to our country, I think this something we can bear.
Siva Prasad D, Telecom Consultant, Doha
Now, the gates are closed for corruption and terrorism. However, we can’t come to any conclusion so soon. We need to monitor for two months because negative shades have broader spectra and they will have alternatives. On the other side, what will happen to prices? Lot of people in remote villages still carry cash but it is not black money they just don’t have bank accounts. What will happen to them? And also, what will happen to the transactions that is done by people who are corrupt.
Lavanya Chakravartula, IT Consultant Ashburn, Virginia
Lot of parties have come and gone but, nobody was able to do this for a long time and it is high time, we take any action against corruption. If not now, it will be never. As an NRI, I welcome this change and I am happy for our nation too.