India is in queue right now. Everybody is standing in front of a bank, trying to either withdraw the money or deposit some as Prime Minister Narendra Modi‘s demonetisation plan takes hold in the country. And even after nearly two weeks, the queues are not shortening. But why? The primary reason is that even as government pushes India towards a digital and cashless economy the reality is that the country is just not ready for it. There is not enough digitisation within the economy to start with. There are not enough card, not enough plastic money. The numbers don’t lie and they tell it starkly that the country runs on cash.
So, what happens now? The scene will improve, hopefully. But don’t expect a miracle. The queues in front of ATMs are not going to vanish soon. They will linger on for a while. As for why? Here are the numbers from NewsFlicks that tell the full story: