WHERE THE BUCKS STOP | Effects of Demonetize on Rs. 500 & 1000 note
Demonetisation of Rs.500 and Rs.1000 notes by Prime Minister Narendra Modi came as a surprise come shock for the whole nation. People suffering the effects of Demonetize on Rs. 500 & 1000 note. The sudden decision to demonetise currency notes is targeted to reduce illicit stocks of black money and fake currency. It had a great psychological impact on the Indians. They are going through the five stages of grief:
- Acceptance (yet to come)
This move is deeply impacting the working sections of society like drivers, maids, cooks, electricians, plumbers,etc. Anybody who provides services in the informal sector and depends on monthly and bi-monthly cash payments had a deep psychological affect . More than that just because the whole system isn't understood well, people have gone into panic attack and emotional turmoil. People have gone directionless and exhausted without a reason and are distracted from the normal routine. People have lost focus in their normal life after the declaration of this incident.
- Events like marriages, parties, functions, etc. seem more like obstacles rather than a celebration.
- Relationships for the very first time are being tested and revaluated.
- Psychological trauma of frustration is being first time experienced by the Indians.
- Bubble of money illusion has been busted.
- Everybody is carrying a feeling of injustice.
People who are already going through psychiatric illness, their mental state is being negatively affected, so they are in a more vulnerable state than the stable minds. This incident has definitely opened up new horizons in the human mind.
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