Nov 17, 2016: Demonetisation creates no panic in Kashmir. As the remainder of the nation stays in a turmoil because of the demonetisation of the 500 and 1,000 rupees currency notes, individuals in Kashmir have accepted the transfer with none panic.
Demonetisation creates no panic in Kashmir.
“No frequent Kashmiri retains massive amounts of money at dwelling due to the disturbed state of affairs,” mentioned Elizabeth Maryam who teaches economics in Kashmir University.
“The salaried class will get month-to-month wages by means of bank accounts they usually traditional area withdrawals to swimsuit day by day wants” as Demonetisation creates no panic in Kashmir.
“The expert and unskilled employees principally earn as a lot as they spend on a mean. Big industrialists and businessmen by no means preserve massive quantities of money at residence in a battle space. That’s the reason why the demonetisation has little affect in Kashmir,” Maryam added.
In accordance with Nazir Qazi, an officer of the native Jammu and Kashmir Financial institution, all of the ATMs of the bank are absolutely stocked. “For the final eight days there was no rush on both our branches or at our ATM shops” when Demonetisation creates no panic in Kashmir.
“Sure, individuals have been coming in for alternate of the demonetised currency notes or for deposit, however no person was being hassled,” he added.
Muzaffar Ahmad, a university principal, mentioned: “In a spot the place the protest shutdown has paralysed life for over 4 months, who would shoot up their blood stress additional over money crunch?” as Demonetisation creates no panic in Kashmir.
Nonetheless, individuals have criticised official claims that the demonetisation transfer has diminished stone pelting or militancy within the valley.
“The Defence Minister (Manohar Parrikar) has mentioned stone pelting ended due to demonetisation. That’s one thing no one can settle for in Kashmir,” stated Zahoor Ahmad, 55, a neighborhood contractor when Demonetisation creates no panic in Kashmir.
Photo Courtesy: financialexpress.com
