Currency ban – a powerful plan or a poor execution


While scrolling down news feed, I bumped into a heading “a forty-year-old washerwoman died due to shock on hearing currency ban.” As I read in detail, I realized she had gone with two notes of thousand rupees as a form of savings to the bank. Only after she went to the counter, she was informed the news. She was half-informed that money was invalid hereafter. No one possibly cleared the fact that it would get exchanged for new.

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OBC bank at 9.55 AM in the morning and it wasn’t open

Since then, the currency ban has claimed around 100 lives. Most of them were older people who were queuing up to get exchange or deposit. They died because of stroke, heart attack etc. In fact, the count includes a cashier at SBI who was at the counter when he got the attack. What has gone wrong actually? Is it an economic strategy that was poorly executed?

Some of the issues that have been seen include:

  1. Lack of information distribution – While standing at the queue, I tried to speak to people. Four people had four different perspectives. People were speaking to each other to understand the process and how should they apply, fill the forms and execute. There should have been bank volunteers to explain the entire plan. Had people been well informed, there wouldn’t have been tragic endings at several households.
  2. Recalibration of ATM post currency ban – I was astounded by Arun Jaitley’s statement “ATM will take 21 days to recalibrate.” So after, the ban has been put, people have gone berserk and it is now that the officials have realized it will take 21 days. Imagine, the kind of after effects it will have on common masses. The team should have thought from all angles before applying a half-baked strategy.
  3. No facility for senior citizens and disabled – Yes, this is the most critical part in the entire currency ban chaos. I saw older people standing up in broad daylight waiting for their turn. Also, they were highly confused with the latest banking paradigm.
  4. Lack of resources – I was amazed how a team of 20 people was catering to the requirements of approximately 50,000(tentative) people at a time. Why there were no new hiring? Banks could have hired people on a contractual basis to the massive bank activities that have got flooded in a matter of few days.
  5. Hassled processes and no time management – I spent around 5 hours to get my turn at the bank counter. I was not informed on which counter to go first and if it was important to get a number on my deposit slip. I simply barged into a counter till I was asked to go to some other. Similar to my case, several people had the same experience.
  6. Different banks, different processes – While public sector banks have tokens to enter the bank, the private ones on the other hand, do not require any. I do not know if there are any other rules. So, people getting confused again shouldn’t come like a new piece of information.
  7. No space for other bank activities – People have been running for withdrawal and deposit so much that there has been no space left for the activities like pensions, loan, etc. So who is going to take care of that?
  8. Standard time of banking operations – Through news, I realized, banks were supposed to work from 8 to 8. Though, it wasn’t made clear if it included time for bank’s own operations or public consumption. As a matter of fact, Axis bank got closed at 3.30 PM itself.

Hail to internet banking, the urban population would have added to the pain of currency ban impact. As per a report in Live Mint, the mobile banking value of transactions hopped 46% to INR 49,029 crores (in December from the previous month, as per RBI data).

Axis Bank has approximately 2.4 million clients who use the mobile platform for transactions (this includes its SME clients). As per RBI data, mobile banking transactions have augmented from 16.8 million in December 2014 to 39.5 million in December 2015. Should we thank heavens?

With the emergence of Paytm and other virtual banking setups, it has become easier to do day to day activities. But, it is limited to educated, and corporate people. As per The Hindu, Paytm has reached a record of five million transactions in a day as compared to Rs.2.5-3 million transactions previously. Thankfully, there is some respite even if a certain population is able to use it.

The objective to make the nation cashless cannot be materialized at the cost of middle-class’ man’s daily earnings. Think of life from a daily wager’s point of view and understand. We are an intelligent nation with stupid people. We react before we respond. No psychology was put while employing such an empowering economic strategy. In India, economics can never emerge as a success until psychology is applied.

References taken from:

http://bit.ly/2fyTMUX

http://bit.ly/1pEHazn

What should you wear during Durga Puja and Diwali?


Durga puja and Diwali, both major festivals are over. I had a ball of time with family and friends and hope you did too. Festivals in India area mark of spirituality, oneness, ecstasy and DRESSING UP like never before.

Even the thought of writing a fashion blog puts me into splits but then I felt like writing one. Still, I thought of writing down a fashion blog on the trends that I followed which you can as well next time. Durga Puja is a four-day festival while Diwali is five days. I am going to talk about all four days of Durga Puja and Diwali night.

Shashti night: Durga Puja starts from Shashti night during Navratri. I opted for an

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Shashti Night Look

orange Kurti (Shrishti) and cream colored Palazzos (Delhi Haat). I matched them with grapes like earrings that I bought from an art fair. Shashti night may be the first day of puja but it is not as grand as Ashtami so I will recommend simple Indo western wear for the night.

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Jewelry

Saptami day and night: The day starts with giving Anjali to mother goddess and I would strongly

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Saptami Day Look

recommend another simple attire. If you are married, sarees should be no less than a mandatory Indian dress. If single, you can experiment as much as you can. I chose a black cotton Kurta (from Reliance Trends) with red shiny pajami (ordinary shop) and silk dupatta (North East festival). I basically mixed and matched. Coming to accessories, I wore red colored Jhumkas with red beaded necklace. During night, I was out on Pandal hopping. I wore sleeveless Jacket Kurta (Jaypore) and clubbed it with leggings (Marks & Spencers). For accessories, I wore black Jhumkas. Keep Shashti and Saptami simple yet elegant and keep the best dresses in stock for Ashtami and Navami.

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Saptami Night Look

 

 

 

Ashtami day and night: The best day of Durga Puja is this. I wore a silk saree (by a supplier from West Bengal) with mango prints and a sleeveless blouse. For accessories, I wore a red and golden heavily beaded necklace. The day time is exhaustive, so I would recommend people to try lighter sarees and makeup. A lot of married women wear traditional and famous red bordered white saree which is also called Gorod. I have even noticed women wearing gold jewelry.

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Ashtami Day Look

If you are married, go for it and drape the saree in a traditional way and let the heads turn at you. For night, I wore a Bangalore silk saree (by a supplier from West Bengal) which I clubbed with yellow terracotta jewelry (taken from art and craft fair). The entire look was very vibrant and apt for a night like Ashtami. Go for a saree that has colors, prints and shine. A lot depends on your comfort level too.

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Ashtami Night Look

 

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Jewelry 

Navami day and night: The last day of Puja is heavy on heart yet full of vigor and joy among people. I wore a long jacket kurta (by Vishudh) and white pajama (by Reliance Trends). I wore matching blue colored Terracotta jewelry. The look was very well accepted by people and appreciated. It gave a classy look all together. For night, I wore a pink colored net saree (by a supplier from West Bengal). The saree was exceptionally pretty and it made look all traditional. For accessories, I wore golden earrings that had south Indian design.

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    Navami Day Look

     

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    Diwali Night Look

    Diwali day and night: Bengalis observe Kali Puja on Diwali night. The day time, I wore a Kerala saree. Since, north India doesn’t appreciate a white saree so I complimented it with a printed green blouse. The blouse had boat neck and was lengthier than usual blouses. For the night, I wore a floral printed maxi dress (by Missa More Clothing) matched with orange palazzos (from Janpath). I wore orange beaded necklace and earrings. What a delight it was to eyes!

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    Diwali Day Look
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    Diwali Night Look

     

All those fashion bloggers, hope this one doesn’t offend you. Hope, I was able to elaborate on the days and nights of festivity at best. Wear that is comfortable, unique and most importantly unique.