The central government and the RBI are issuing statements daily intimating that sufficient cash is being released to the Banks for transaction. But the fact is that the queues in front of the lakhs of ATMs and Bank Branches are becoming longer and longer. People have to stand in the queue for hours together and sometimes by the time they reach the front, there is no cash.
The question is: Where the new notes are going, if sufficient supply is there? The fact is that very insufficient notes are being released by the RBI. Secondly, the reports of laundering as also catching of many with lakhs of new rupee notes in their hands show that in many places, the notes are being diverted to some influential persons or by bribe. The Income Tax and police might have only caught about 1 or 2 % of these thiefs. They are influential and they may come out with out any scratch.
The net result is that the ordinary people, workers, employees, small traders, kisans are all put to great misery for getting some money for their daily expenditure. This hell of a situation should end. The government should be compelled to take immediate action.