Money, money everywhere but not a hundred to spend!

I don’t possess a credit card — totally opposed to that concept. In fact, I was surprised when my husband’s uncle in the US told us that he was unable to buy a TV with cash after saving up that money. The salesman refused to accept cash and said only credit cards were accepted. This was decades ago when he migrated to the US. I’m not sure how the system is now. But for me, I won’t survive in that plastic money world. I believe in ATM and not apps. Though I endorse swiping the debit card, online shopping and NEFT, I strongly believe and feel secure with cash on hand. (After that holiday in God’s Own Country turning sour when our debit payment got a response ‘insufficient funds’ when ten times the amount was in the account. After a cashless mediclaim policy that didn’t help and we had to pay cash, I repeat cash deposit of initial security amount when my mom was rushed into emergency after a fall. Not to mention the amount of deposit was more than the daily withdrawal limit on your card). However, I’ve started rethinking on that now. No one would have thought that you would face a situation like Tom Hanks in The Terminal where he suddenly faces a state of statelessness and loses the recognition of his passport. 

To be honest, for the ones who have black money it would be a notional loss. The middle class, adept with technology can buy their daily needs with their debit card, which most likely is their regular schedule face challenges only in making petty cash payments to the newspaper supplier, flower vendor, milk delivery lady etc. Thus, it is the lower rung in the economic ladder that gets the beating. Imagine a maid whose monthly salary is, say Rs 4000 and she gets two 2000 rupee notes from the bank. She has the money but is unable to spend it. (All those who are about to say that this is a temporary situation and this complete blood transfusion (with blood shortage) is essential for our country are the ones comfortably perched on their couch swapping channels and making fun of what the nation wants to know.) 

I am to be blamed too. From the day demonetisation was announced I’ve been clinging on to those few hundred rupees in my possession. I am saving that for the rarest of rare emergency expense. Many like me have found new love for 100 rupee notes. While the ones who have are not ready to part with their precious 100 rupees and with the demand for smaller denomination on the rise, normal circulation of money is arrested. It only reminded me of the story The Man Who Saved Pumplesdrop by Walter J Turner that was in my school English textbook. (Thanks to my English teacher Ms Jyoti Swaroop I was able to get the title of the story.)

The short story in short. Pumplesdrop was facing depression until a stranger walks into a car dealers unit and places an order for two Rolls Royce cars to be delivered on Christmas Eve. Calculating the profit he will make from the sale, the car dealer permits his wife to buy the jewellery she wanted for Christmas eve. This starts a domino effect sale. And somewhere in the chain of pre-order non cash sales, actual money, which they have been clinging on to without spending due to the depression, gets back in circulation. Pumplesdrop soon has no sign that it suffered from a financial crisis. Should I say that the stranger never returned to buy the cars? 

How I wish life was fiction!