Prime Minister had taken a bold decision of closure of 500 & 1000 Indian rupee notes.
There are pros and cons of demonetization of Indian currency. But whenever such orders are passed the common man is in trouble. There are many advantages of demonetization of 500 and 1000 Indian rupee notes.
Now we have to see the pros and cons of demonetization. I know that all India is fighting the situation but we all want to be aware of this.
Main Disadvantages of Demonetisation of 500 & 1000 Indian rupee notes:
- There is Hugh rush to the banks from last many days and normal work can be hampered.
- The government had not altered in ATM’s so there are big problems in currency Exchange.
- Biggest Disadvantage of Demonetization will be with the tourist who has only old notes and no connections in the area.
- The common man who has only 500 and 1000 Currency notes will be in trouble for their daily livelihood for next some days.
- Many People who have an event like marriage and other having only old 500 and 1000 rupee notes will be in Big problem. They are really facing the high demonetisation disadvantages in India.
- Some people had not Information of where to exchange the Old currency notes.
- There are raids by Income Tax, Sales Tax and excise which can create the problem for Business.
- If there is a Hard earned money which is beyond the limit of 2.5 lacs can indulge you in the problem. this may be the biggest Disadvantages of Demonetisation of 500 & 1000 Indian rupee notes
- At some Places, Banks are unable to handle the pressure of Public and the currency notes are out of stock.
- There will be the problem of Change with 2000 rupee note. These were some limitations of demonetization 500 & 1000 Indian rupee notes
- At Government hospitals,
- On Interstate Bus Counters, Airports and Railway Station Ticket counters
- Petrol Pumps and Gas stations
- All Banks and Post offices
- Authorized Milk Booths
- Crematoriums grounds
- Comment to Know More I believe that there are many disadvantages of demonetization.Now See the Steps Taken By Government for Benefit of common man after demonetization of 500 & 1000 Indian rupee notes.
- All National Highway tolls will be free till 2nd December. The government is ready to bear the loss with the citizen.
- There will be Free treatment under Rs 500 in AIIMS.