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Watch Bandhan Bank founder Chandra Shekhar Ghosh discuss Demonetization This Week on Off Centre
New Delhi: The demonetization of Rs.500 and Rs.1000 notes has taken the country by surprise. The big bold move to wipe out black money has disrupted normal life. While many people have accepted the government’s defence that this short term pain is for the nation’s long-term gain, there’s no denying that from inconvenience to heartbreak and outright tragedy, the overnight decision has impacted lives adversely.
This week on Off Centre, Chandra Shekhar Ghosh, founder of Bandhan Bank that has 68% of its branches in rural areas, shares the view from the ground. Ghosh explains that how short the ‘short term’ will be, depends entirely on how soon supply of currency to the banking system can be increased. He also points out that in the long run to tackle black money and corruption, people have to be educated about electronic transactions and government machinery has to be cleaned up. He further adds that the small farmer, trader and consumer are facing hardship as a result of the move.
Catch the full conversation on Off Centre this Saturday at 8 PM and Sunday at 12:30 PM & 9:30 PM, only on CNN-News18