Tag Archives: Demonetisation

Demonetization on Payday: A Photo Essay – Raiot

So I decided to do a first-hand sampling of banks and business on the first day of December, 2016, or pay day – most businesses deposit their employees’ salaries in their bank accounts by the first of the month, if not a few days earlier. December 1, 2016, was the first payday in India after Modi’s announcement on November 8, 2016. This was thus the first time many employees needed cash for their main monthly expenses after the demonetization exercise began – for monthly rental payments, food from ration shops, fees for children’s schools, and many other needs which often need to be paid around the first of the month. While many people can take care of these through cheques and debit cards, many are still dependent on cash despite having bank accounts, judging by the number of employees trudging to banks to withdraw cash on payday.

Source: Demonetization on Payday: A Photo Essay – Raiot