I am writing to thank you for carrying the informative article entitled 'A year since the Note Ban, who has gained?' in the November 1-15, 2017 issue of MEL. Such an article goes a long way towards educating the working class on the true intent and objective of the devastating note ban that was done in November 2016 by the Narendra Modi Government. As the article has pointed out, the effects are still being felt today, thereby debunking the claim that the pain was to be temporary' and that there would be 'long-term gain'. The bogus nature of this stands in front of everyone today. In particular, this has led to the destruction of lakhs of jobs. As if to rub salt into the wounds, senior ministers have come out saying that only those people who had no skills lost jobs, exposing the ugly callousness of those in power. Also, farming communities have been decimated since they were heavily dependent on cash transactions for procurement of seed and fertilizer. Bank employees were made to work inordinately long hours with no overtime being paid.
At the back of all these were the diabolical plot to bring into lot of the money circulating in the country into banks and to wreck the cash economy, so that the big bourgeoisie and international capitalists could closely monitor the habits of the people of the country and hone their strategies accordingly. Also the arrival of large deposits into banks could make credit cheaper for borrowing. Several think tanks including big players from the west, as well as non-state actors such as the Bill and Melina Gates Foundation were eager supporters of cashless economies. Such interference in the internal affairs and economies of other countries are intolerable, and those allowing such interference could very well be considered traitors. All this is tantamount to daylight robbery of the savings of the people.
The claims of the PM that this was aimed at controlling corruption and curbing terrorism are all laughable, if had not been so tragic. There is no evidence to support any of these claims. Indeed, it may again be clearly reiterated that 'The real aim was to force people to put their savings into banks and switch to digital transactions, for the benefit of the richest and biggest capitalists of the country.' I am thankful for your educational contribution on this subject.
S. Nair, Kochi