Big problem for common man, say people on scrapping big notes

Kerala residents had mixed reactions to the unexpected announcement by Prime Minister Narendra Modi that Rs 500 and Rs 1,000 currency notes will cease to be legal tender from midnight Tuesday, with most calling a "big problem" for common man.

Long queues have started to build up in front of ATMs.

"This is just going to be a big problem for people," said a middle-aged man waiting in front of the ATM in the state capital to withdraw money.

My god, what's going to be the impact can be seen from tomorrow onwards when there will be unending queues in front of the banks and post offices. I do not have any unaccounted or such money... all what I have is my hard-earned money and now its going to be a pain to get changed the few notes that have now been withdrawn," said Bessy John, a housewife in Kerala.

Former Indian Ambassador to Slovenia and Austria, T.P.Sreenivasan said the only such thing that he can recall of such a thing happening is in Myanmar and it appeared to have had an impact there.

State Bank of India chief general manager S. Adikeshen said that this is a move against corruption.

"The message is loud and clear that this is to fight corruption. In everyday life we always hear of statements being made by people when they buy a house about that they have paid this much in white and this much in black," he said.

Former Kerala legislator and bureaucrat AK.J.Alphonse, now a Bharatiya Janata Party national executive member, welcomed the decision.

"This is a blow to those who have unaccounted money and this must be seen along with the decision that was taken before to disclose unaccounted money," he said.

Bijoo John, an engineering student, said this is a good decision and all the bribe-takers and those who have unaccounted money will not be in trouble.

--IANS

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