One week after demonetisation announcement, crores of old currency notes burned, destroyed, dumped

Police in action as people scramble to exchange Rs 500 and Rs 1000 notes at a bank in Allahabad on Friday. PTI Photo
A week has passed since Prime Minister Narendra Modi banned the Rs 500 and Rs 1000 currency notes. By sucking liquidity out of the system, the government converted 16.5 billion 'Rs 500' notes and 6.7 billion 'Rs 1000' notes circulated in the country, into waste paper. 

Whether the demonetisation move was gutsy or taken in haste, it is bound to have social ramifications. Will this measure be worth all pain caused to the working class, small businesses and nearly anybody who deals with cash on a daily basis? As the Parliament's winter session begins today, Opposition has already bombarded the NDA government with questions and has termed the demonetisation drive as a move to wipe out banks non-performing assets. 

Demonetisation effect: 

Apart from citizens being asked to queue up to collect their money, this move has created chaod and panic. Cash starved people resorted to violence after waiting in serpentine queues outside banks and ATMs. Some even turned to plundering shops and bullying bankers.

PM Modi aim to combat black money kay have been achieved to an extent as millions of old currency notes have been seized, some been dumped into garbage bags while sacks of old notes were found burned in the last six days.

Here is the list of unaccounted cash being seized or dumped across India: 

1. Kanker, Chhattisgarh: Unaccounted Rs 5 lakh cash was seized in Naxal hit Kanker district on Tuesday. The police recovered it from a man who is said to have links with Maoist, according to the police.

2. Ernakulam district: On Tuesday, Rs 62 lakh of old denomination notes were seized from a bus passenger in Kerala. Bundles of Rs 1,000 notes were found in his baggage following which he was taken into custody.

3. Singhpura village/Bhikhiwind village, Punjab: On Monday, barely five days after banks began issuing Rs 2,000 notes, police booked four men on charge of printing copies of Rs 2000 currency notes.

4. Kolkata: Two sacks of torn Rs 500 and Rs 1000 notes were found in a garbage dump in a posh locality in Kolkata on Sunday.

5. Kollam: On Saturday, angry customers waiting outside a branch of the State Bank of Travancore in Kollam district allegedly broke a glass door after it decided to down shutters due to heavy rush even as serpentine queues were witnessed before various banks across Kerala. At the time, around 200 persons were inside the branch while more than 200 persons who were waiting in the queue outside the branch.

6. Kondagaon district: On Friday, police had recovered unaccounted cash of Rs 44.25 lakh, in denominations of old Rs 500 and Rs 1,000 notes, and jewellery worth Rs 2 lakh from a man in Naxal-affected Kondagaon district.

7. Chhatarpur Village, MP: As a result of demonetisation, cashless villagers on Friday looted a public distribution system shop (PDS) shop in MP after its owner refused them to accept the now-defunct Rs 500 and Rs 1,000 currencies for groceries.

8. Pune: On Thursday, a bag full of all Rs 1000 notes was found on the road. The amount totaled to Rs 52,000. A rag picker discovered the bag and reported it to the police. 

9. Mirzapur (UP): On 9 November, the now-defunct currency notes were found floating in Ganga river. They were spotted by people bathing in the river.

10. Bareilly - Wednesday: A day after the government discontinued Rs.500 and 1000 notes sacks full of burnt notes were found in Bareilly in Uttar Pradesh. They were dumped by workers of a company, according to sources.

11. Delhi: Police said a case of stone pelting at IDBI bank in Roop Nagar was reported and one person was arrested. At noon, Imran (44), who had already withdrawn money from the bank once, tried to go inside again and was stopped by a security guard, they said.

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