No doubt, people do suffer a lot due to the stoppage of cash liquidity. But, the people of Kerala, by and large of urban elite character, are very much aware of the intention behind the new policy. Therefore, they do not blame the
government much for the hardships they face due to the lack of currency in ATMs and the long queues in the bank. Lack of cash affected almost all facets of the economy. It has hit the construction industry, small shops, restaurants, etc. People even suffer a lot for money to spend for their daily travels to the work and back home. Lottery ticket sale has been hit badly.
But, the most significant problem is the campaigns being carried out by the leaders of both ruling CPM-led LDF and Congress-led Opposition UDF. Their campaigns create panic in the society. CPM leader and state finance minister
Dr TM Thomas Isaac describes the move as an unnecessary political drama. Opposition leader Ramesh Chennithala also blamed the Modi Government for bringing hardships to the people due to lack of preparations.
He says, it is a “mad” decision. His party colleague and former minister Dominic Presentation went to the extent of scaring the people stating that the
situation is running to worse troubles and people would attack the banks and shops for money. It is equal to call for anarchy. BJP leaders have already taken steps to move the court in this regard.
Another significant factor to be taken into consideration is the powerful influence the Left parties do have in bank unions. Regulations of RBI and
co-operative rules formed by Government of Kerala are not generally complied with by the co-operative sector in Kerala. There are reports that most of the
co-operative banks in Northern Malabar area are controlled by CPM. Last week Mariyumma Muhammed (60) a woman, was arrested for depositing counterfeit currency of Rs 37,000 in a nationalist bank in Malappuram. It shows that fake notes are stored in Kerala. —T Satisan, Kochi