New Delhi: It's been one month since the Rs 500 and Rs 1000 notes were banned by the Prime Minister Narendra Modi-led BJP government. The PM has asked for 50 days to solve the problems faced by the people as a result of demonetisation.


Here's how the country has suffered and gained as a result of this notes ban:

Benefits of Demonetisation:

  • The country has moved towards cashless transactions.

  • We are moving towards on the path of digital India.

  • Grip has tightened on those holding black money after demonetisation.

  • The fake currency has got vanished.

  • Money from vaults has shifted to banks.

  • As a result of demonetisation, 12 lakh crore has got deposited in banks, making the institution strong.

  • Expenditure on unnecessary items has got limited to some extent which has resulted in saving.


How the country suffered:

  • Since last one month, people of the country have been standing in serpentine queues outside the bank and ATMs.

  • People have been starving for cash.

  • People are dying while standing in long queues.

  • Availability of less cash has impacted businesses.

  • Small vendors and daily earners are the worst hit.

  • Demonetisation has affected farmers and agriculture sector badly.

  • There are speculations that the move of notes ban may affect country's progress.

  • Foreigners have been getting less cash.

  • Notes ban has affected tourism.