Demonetisation: People of a village in Madhya Pradesh haven't even seen the new notes

The demonetisation of Rs 500 and Rs 1,000 notes has led to a vast shortage of cash in the Indian economy. And the most affected are the rural areas.

FP Staff November 29, 2016 09:57:44 IST
Demonetisation: People of a village in Madhya Pradesh haven't even seen the new notes

The demonetisation of Rs 500 and Rs 1,000 notes has led to a vast shortage of cash in the Indian economy. And the worst affected are the rural areas.

Demonetisation People of a village in Madhya Pradesh havent even seen the new notes

Representational image. AFP

On Monday, Firstpost brought you the story of a digital village in Gujarat. Here's a story from the completely opposite end of the spectrum.

A report by Pradesh18 said that the people of Kapa village in Mandla, Madhya Pradesh have yet to see the new notes. And that's not all. It turns out that they only found out about demonetisation over the radio.

The people have alleged that when they went to a nearby bank to exchange notes, the bank officials put the corresponding amount in their bank accounts instead, according to the report.

The report also said that the people in the village found out about the demonetisation of high currency notes through the radio. There is also no bank, mobile network or hospital in the village.

To get access to a bank, the people of Kapa have to travel either 25 kilometres to Babliya or 45 kilometres to Narayanganj.

Another PTI report had said that Cooperative Bank Employees Federation had alleged that demonetisation had left the rural economy in Tamil Nadu at a standstill. CBEF General Secretary C Thamizharasu had said that agricultural cooperative societies, textile and fishermen associations with bank accounts in Central Cooperative Banks had been badly hit due to demonetisation

"Due to the Central bank's move, the rural economy in Tamil Nadu has come to a standstill as even those who have bank accounts were not allowed to operate," he had said.

Another Firstpost report had said that demonetisation could lead to the near-collapse of the rural economy in Maharashtra.

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