1. Demonetisation: School children take a step to help banks with usable cash, donates Rs 73,000 from pocket money

Demonetisation: School children take a step to help banks with usable cash, donates Rs 73,000 from pocket money

The school kids at Hardoi had donated Rs 73,000 from the money saved in their piggy banks, to the banks running out of currencies of lower denominations.

By: | New Delhi | Updated: November 19, 2016 4:29 PM
The school kids at Hardoi had donated Rs 73,000 from the money saved in their piggy banks, to the banks running out of currencies of lower denominations. (Reuters) The school kids at Hardoi had donated Rs 73,000 from the money saved in their piggy banks, to the banks running out of currencies of lower denominations.
(Reuters)

Amid public distress continuing since the implementation of the note-ban policy by the Narendra Modi government, with people waiting for hours outside banks and ATMs to collect usable cash, school children from Uttar Pradesh’s Hardoi district had taken an exceptional step to come forward and help the banks in the time of crisis. The school kids at Hardoi had donated Rs 73,000 from the money saved in their piggy banks, to the banks running out of currencies of lower denominations.

There had been a chaotic situation among the common people since Prime Minister Narendra Modi had initiated the demonetisation policy, following which there had been a ban on currency notes of the dernomination Rs 500 and Rs 1,000, replacing them with newer ones. Even as the implementation reaches its eleventh day, today, people had been seen queuing up outside banks and ATMs, waiting for hours, to replace their old currency notes and collect at least a minimum amount of cash required for their daily living.

With the rise in the demand of currency notes of lower denomination, banks and ATMs had also been in a state of crisis, with ATMs frequently running out of cash, even as several cash-starved people still awaits outside. At least 53 people had died, waiting in queues with hope to get a grab of the new usable currency notes initiated by the Prime Minister.

The move by Narendra Modi had taken a bitter political turn as opposition parties continue protesting against the ‘anti-graft’ policy, with the Lok Sabha and the Rajya Sabha witnessing repeated adjourns for three days in a row, over heated arguements by opposition leaders.

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