From chip rumour to withdrawal of Rs 2,000 – A look back to incidents related to demonetisation

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From chip rumour to withdrawal of Rs 2,000 – A look back to incidents related to demonetisation


Image Source : INDIA TV Demonetisation in 2016 triggered enormous panic amongst folks

Rs 2000 withdrawal: The sudden announcement by the Reserve Bank of India on Friday concerning the withdrawal of Rs 2,000 foreign money notes from circulation by September 30 sends us right into a flashback when nearly everybody discovered standing in entrance of banks or ATMs. The affect of the federal government’s determination was so enormous that it affected nearly each citizen in India. Subsequently, everybody would have some candy and bitter recollections related to the stunning announcment by Prime Minister Narendra Modi at round at 8 PM on November 8, 2016. His declaration that at 86% of the worth of all currency- in 500 and 1,000 rupee notes in circulation would stop to exist as authorized tender. The transfer was termed demonetisation.

The sudden announcement created enormous outrage and panic-stricken folks gathered outdoors ATMs and Banks throughout the nation. 

Here are some main incidents related to word ban that are nonetheless vivid in our recollections:

Rumor about GPS Chip within the notes: This was the funniest half of the demonetisation as some social media experiences declare that there was a spy chip inbuilt into the Rs 2,000 notes. The authorities instantly rejected all of the rumors. However, it remained in talks within the public area for a very long time.

Baby’s title: In a stunning incident, a woman- Sarvesha Devi- gave delivery to a child whereas she was standing in a financial institution queue to withdraw cash on December 2, 2016. She named her child ‘Khazanchi Nath’ which suggests ‘treasurer’. SP chief Akhilesh Yadav met the newborn and made him the face of the protest in opposition to the RBI’s transfer. Yadav additionally gave Rs 2 lakh and a home to the boy’s mom. He celebrates Khazanchi’s birthday yearly on 8 November, the anniversary of demonetisation.

Cheapest marriage ceremony: Two households from Gujarat’s Surat determined to organize the most affordable marriage ceremony occasion in November 2016 owing to a money crunch due to demonetisation. The couple bought married with simply Rs 500 marriage ceremony price range.

Woman goes topless: In a stunning incident, an indignant girl after being unable to get a number of junked foreign money notes exchanged, stripped her prime in entrance of the RBI regional workplace, Delhi in January 2017. The girl, who was together with her youngster, was turned away by the guards on the gate. The helpless girl began crying and eliminated her garments in protest.

Also read- RBI to withdraw Rs 2,000 foreign money word from circulation however it’s going to proceed to be authorized tender

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