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5 years of Demonetisation: Social media users trend black day of Indian Economy, know why

Demonetisation is the act of removing a currency unit’s legal tender status. It takes place whenever a national currency is changed.

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Demonetisation is the act of removing a currency unit's legal tender status. It takes place whenever a national currency is changed.

By Tarannum

It has been five years since demonetisation took place on November 8, 2016. The announcement came later in the evening that surely shocked the people of the country. In the announcement, PM Modi said that Rs 500 and Rs 1000 currency notes will no longer be used as legal tenders. However, on this day, what came to our notice was a bit peculiar. Some of the users on social media started trending the hashtag ‘black day in Indian Economy’, in which it was mentioned that demonetisation was the black day of the economy.

One of the users wrote on Twitter that Demonetisation is a case of intentional looting and legalised plunder of our country. It has ruined our country’s economy and many small business owners and poor people have suffered greatly as a result of the government’s rash action.

Another user wrote that despite demonetisation, the cash circulation increased as well as the cash with the public also increased. He further said that no major black money was recovered that led to a negative impact on GDP.

Yet another user said that it was a masterstroke in which 99.8% of the money returned to circulation and millions of people lost their jobs and businesses. Adding further to it, he said that demonetisation has caused the death of innocent lives, distress to the working class and destruction of the economy.

What is Demonetisation?

Demonetisation is the act of removing a currency unit’s legal tender status. It takes place whenever a national currency is changed. It entails removing the current form or forms of money from circulation and replacing them with new notes or coins.

Read Also: Five years of demonetisation: A quick look at how it affected the economy

What was the reason for implementing demonetisation in India?

Demonetisation was done to minimise the amount of counterfeit cash in the economy, which is used to fund criminal activity. As soon as the announcement of demonetisation came, people started rushing to exchange their Rs 500 and Rs 1000 currency notes, resulting in cash shortages around the country.

Long queues were seen outside the banks, ATMs and small firms experienced temporary cash loss. The situation was considerably worse in rural India, where residents struggled to exchange and withdraw money due to a shortage of banks and ATMs in their area.

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Female cheetah Shasha, who was brought to Kuno National Park from Namibia, dies

Shasha was recovered from a farm near Gobabis, a town in east-central Namibia.

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Shasha cheetah

Female cheetah Shasha, who was brought from Namibia to Kuno National Park in Madhya Pradesh, died due to kidney related issue on Monday. The death of the cheetah was confirmed by the forest officials.

Reports said the Madhya Pradesh forest department had sent an emergency response team to Kuno National Park in Sheopur district when Shasha was diagnosed with a severe medical condition in January. It had symptoms of dehydration and renal disease, as per reports.

Shasha was being treated by a team of veterinarians led by Dr Atul Gupta who is the lead vet at Van Vihar National Park. He was sent to Kuno who then administered fluids to Shasha which improved the big cat’s condition.

Shasha was brought to India among 7 other Namibian cheetahs and was released by Prime Minister Narendra Modi at the Kuno National Park in Madhya Pradesh.

In February, 12 more cheetahs were brought to Madhya Pradesh from South Africa. The relocation of 12 cheetahs from South Africa took place three years after the Centre put forth the idea of the world’s first intercontinental translocation project which aims at reintroducing cheetahs in the country.

Reports said Shasha was recovered from a farm near Gobabis, a town in east-central Namibia. She was malnourished and skinny, however, she was nursed well.

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Wayanad seat gone, Rahul Gandhi has a month to move out of Tughlaq Lane house

Gandhi was disqualified from membership of the Lok Sabha two days ago, a day after a Gujarat court held him guilty in a defamation case.

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Rahul Gandhi

Congress leader Rahul Gandhi has been issued a notice by the Lok Sabha housing panel to vacate the official accommodation allotted to him in Tughlaq Lane which he held as the MP from Wayanad. Gandhi was disqualified from membership of the Lok Sabha two days ago, a day after a Gujarat court held him guilty in a defamation case.

On March 24, 2023, a Surat court had sentenced him to two years jail term for his 2019 campaign speech in which he took Prime Minister Narendra Modi’s name along with IPL founder Lalit Modi and fugitive diamantaire Nirav Modi and asked if all Modis are thieves. The court had granted Rahul 30 days to move to a higher court for appeal.

The defamation case against Rahul Gandhi was filed by former Gujarat minister Purnesh Ishvarbhai Modi who alleged that the community had been defamed by the comment.

The Representation of the People Act, 1951’s Section 8 (3) a person convicted of any offence and sentenced to imprisonment for not less than two years shall be disqualified from the date of such conviction and shall continue to be disqualified for a further period of six years since his release.

Read Also: Congress leader Pawan Khera apologizes for old tweet after Rahul Gandhi loses Lok Sabha seat

The Congress is on the warpath with protests being held on Sunday against the move, calling it a satyagraha to pitch it on the Gandhian scale. Today, Congress leaders wore black as part of their protest.

The Opposition had sided with Rahul Gandhi, who now finds himself in another spotlight albeit not of his own making. Gandhi has just wrapped up his Bharat Jodo Yatra from Kanya Kumari to Srinagar, getting strong support across several Lok Sabha constituencies winning which will be key for the Congress to come up as a prime challenger to the BJP.

The Opposition support did not however come unanimously. Trinamool Congress chief Mamata Banerjee took her time after the conviction but was prompt in supporting after the Gandhi scion’s disqualification from the Lok Sabha.

International media outlets have reported this series of incidents as the chickens coming home to roost following Rahul Gandhi’s speeches in Cambridge and London on the threats to the country’s democratic institutions.

Gandhi, however, had to listen to strong responses from his Maharashtra ally Uddhav Thackeray for saying he won’t apologise since he was not Savarkar.

On video, bombs hurled at BJP worker in Puducherry, hacked to death after he collapsed | WATCH

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Bachelors can’t use balconies for phone calls after 10 pm, no guest overnight: Bengaluru flat complex’s new diktat

The society is said to be in the Kundanhalli Gate area.

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Bengaluru New Flat rule for Bachelors

In a bizarre incident, an apartment complex in Bengaluru has issued guidelines for the Bachelors living in the society in order to provide maximum comfort to the flat owners or tenants while ensuring discipline on the premises.

As per the new guidelines, guests at the bachelors and spinsters’ house are not allowed to stay overnight in their flats after 10 pm. And if the guest needs to stay overnight then they have to take prior approval from the owner via email. The society is said to be in the Kundanhalli Gate area.

Read Also: Video of policeman trying to sing along with buskers in Gurgaon goes viral, this how users reacted | WATCH

The guidelines have been shared online by a Reddit user.

Here are the rules and regulations for Bachelors living in Banglore’s apartment complex

  • No guests are allowed to Bachelors and Spinster’s flats post 10 pm. Guests are not allowed to stay overnight. If required, prior approval from Owner on email, Manager or Association office to be requested by submitting the guests ID proof and furnishing the stay duration and Guest entry on Mygate.
  • Bachelors and Spinsters are to follow the association rule strictly. No relaxation in case of violation. The penalty of Rs 1,000 or eviction.
  • No loud music after 10 pm.
  • No late-night parties are allowed.
  • Not to use the corridors and balconies for phone calls post 10 pm.

According to one of the users in the comment section, this society is in Marathalli. Since being shared, the rules are being slammed online with many users expressing their displeasure.

One of the users commented, It’s worse than hostels. You’re paying money to rent out a flat. It’s your flat for the duration that you’re renting as per the rantal agreements. Who’ll come to your flat and what you’ll do in the balcony is purely dependent on you. Society rules are becoming rediculous these days it seems.

Another wrote, Nonsense, you live by your rules not owner since you actually own the place for the time you are there. Yes loud parties can be avoided, but rest is none of anyone else’s business.

Banjara community protesters hurl stones at BJP leader BS Yediyurappa’s home, office in Karnataka’s Shivamogga | WATCH

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