It turned out that what the banker said was not wrong, and it didn't take long for the bank to have problems here, first of all, the number of banks was insufficient, especially the ATM machine was seriously insufficient, there were only 220,000 ATMs in India, and in Goa, where there are more ATMs, an average of 1,929 people use one; In Bihar, where there are fewer ATMs, an average of 13,438 people use one, and it is even more difficult to queue up for deposits and withdrawals.

Countless people queue up every day to get new banknotes, and there is a lot of confusion that happens, with statistics suggesting that at least 47 people have lost their lives directly or indirectly as a result of the ban. For example, a young Indian man waited in line for eight hours a day for three days in a row to change money, and finally died of anger, and was found with only a few coins on his body. When a woman was queuing up to change money, her life savings were stolen by thieves and she eventually chose to commit suicide; Many people died of heart attacks while queuing.

In a bank in New Delhi, a bank teller wearing a pink shirt and working suddenly closed his eyes, the person tilted to the left, and instantly lost consciousness, so frightened that the colleagues behind him hurriedly asked the bank manager for help, and the two big men tried to wake her up, but as soon as she made a move, the female bank member slid off the chair and was rushed to the hospital.

Afterwards, according to the person's name, "I have been working 16 hours and only taking 10 minutes off for several days, but I have not changed the $500 bill in my own house." Not only are bank staff working overtime every day, but the staff in charge of ATM money replenishment are also working overtime, but the crowd of people queuing up outside to exchange money shows no sign of subsiding.

Bank manager SatishSoni claimed that this is already a banking crisis and that we must cancel other operations and give full support to the banknote exchange. As soon as the bank opens every day, the crowd rushes through the iron door like a wave, the old man is pushed to the ground like this, and some people queue up until sudden death, and even the old husband and wife can't get the money, and the killer is angry, and the probability of successful exchange of money is only 3 percent.

He also claimed that it would take at least four months for the RBI to print the required new banknotes; It will take weeks or more for these banknotes to enter circulation. There are only 220,000 ATMs in India, and the vast majority of ATMs in India are currently unable to recognize new banknotes, and according to the Indian government, it will take at least four weeks to update the banknote recognition system of these ATMs.

What's even more exaggerated is that a slight earthquake occurred in New Delhi in the past few days, and the reporter of the "Global Times" was awakened. When reporters inquired about the magnitude of the earthquake, they found that there were few reports of the earthquake in the news of India that day - almost all the Indian media reported that people were queuing up to change money. According to the Hindustan Times, the crime rate in the Delhi area has dropped significantly in the last 10 days because the bad guys can't grab the money......

Compared with the big cities, there are more people in the countryside who are worried. Because in rural India, many people are used to keeping large sums of cash at home, partly because there are fewer local banks, and partly to avoid paying taxes. The impact of the "abolition of old money" initiative is even more pronounced on them.

In a small village in the Indian state of Haryana, people flocked to the front of the bank early in the morning on the 12th, some even carrying large bundles of banknotes. Some villagers clung to the bank before it opened, anxiously hoping to get in sooner.

In fact, the financial surgery won the praise of the vast majority of people in the first few days, but after more than 10 days of queuing for money exchanges, sales from large retailers to small street shops fell by as little as 30% and as much as 80%. For example, the sales of Rockdude Impex, an Indian aluminum foil manufacturer, plummeted by one-quarter last week, and the "demonetization order" broke its capital chain in less than two weeks: trucks stopped running because there was no cash to refuel; Workers are stopped working because they are not paid; The next family was unable to pay for the goods due to stagnant sales.

In rural areas, there is a "cash panic", where the process of buying seeds and fertilizers is just halfway through, and now everyone is running out of cash, so farmers are unable to plant seeds seasonally. Confidence is shrinking, anxiety has replaced hope, and patience is turning into worry and anger.

In fact, it is not only the Indian people who have been affected by this incident, as the Nepalese rupee has maintained a fixed exchange rate with the Indian rupee since 1993. The Reserve Bank of India (RBI) has recently made a request to the Central Bank of Nepal to provide it with specific details of the 500 and 1,000 Indian rupees in circulation in Nepal's financial system.

According to Dungana, head of the Foreign Exchange Department of Nepal's Central Bank, Nepal's financial system has around 35 million rupees and 500 and 1,000 denominations of Indian currency in circulation.

Previously, Nepalese citizens were allowed to hold the two denominations of Indian currency worth up to Rs 25,000. Due to the frequent economic and cultural exchanges between the two countries, Nepalese people have a higher ownership of these two denominations of Indian currency. Especially in areas close to the border, some Nepalis will store large amounts of Indian rupees to cope with the need to buy goods from India, and under the Modi government's policy adjustment, businessmen with India-related economic contacts have made representations to the Indian embassy in Nepal to ensure that the discarded currency is disposed of.

The central bank of Bangladesh, another neighbour of India, has also begun to understand the situation with a view to taking next steps. A senior Bangladesh Bank official said: "We have approached different banks, including the branch of the State Bank of India in Bangladesh. "Some over-the-counter markets in Bangladesh have also stopped trading in the Indian rupee.

Bangladeshi businessmen who trade with Bangladesh and India, like Nepalese businessmen, are subject to some restrictions on their day-to-day operations.

In addition, some Bangladeshi citizens who want to go to India for treatment of serious diseases such as cancer have also been affected. Although the Indian government has ordered hospitals to continue to accept INR 500 and INR 1,000, private hospitals in India do not have this policy and refuse to provide medical care to patients if they cannot pay for INR 100 and below.

In this case, how could Singh's old rival the BJP let go of such a good opportunity to fall into the ground, the BJP Delhi regional chairman Ajay Macon told the media on the 19th that at least 55 people in India have died due to money exchange in the past ten days. Macon asked, "What's wrong with these innocent dead?" Macon urged Prime Minister Manmohan Singh to "apologize unconditionally" and provide compensation to the families of the victims. (To be continued.) )