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India better than Venezuela in roll out of Note ban
By: Tupaki Desk | 17 Dec 2016 7:57 AM GMT
Indian citizens has been facing lots of hardships after the Centre banned 86% of the total currency in circulation overnight. When compared to Venezuela, Indians should accept the fact that Central Government has done much better job since November 8th.
Recently, Currency ban was imposed in Venezuela as well. However, It's President offered just three days for the people of the country to exchange the old currency. He claimed demonetisation was launched to fight terrorism on the border.
Though the population of Venezuela isn't even 1/10th of India, The 3-Day Window won't be sufficient for the people to exchange or deposit old notes. What makes the situation worse is the lack of bank accounts for 40% of the population. Even Government was unable to dispense the new currency within the three day period. As a result, Citizens were in dire state and an economic crisis exists here. Deaths, Robberies and Protests have been happening across the country. Venezuela Government has completely failed in handling the aftereffects of note ban.
Recently, Currency ban was imposed in Venezuela as well. However, It's President offered just three days for the people of the country to exchange the old currency. He claimed demonetisation was launched to fight terrorism on the border.
Though the population of Venezuela isn't even 1/10th of India, The 3-Day Window won't be sufficient for the people to exchange or deposit old notes. What makes the situation worse is the lack of bank accounts for 40% of the population. Even Government was unable to dispense the new currency within the three day period. As a result, Citizens were in dire state and an economic crisis exists here. Deaths, Robberies and Protests have been happening across the country. Venezuela Government has completely failed in handling the aftereffects of note ban.
