The Demonetization of 500 and 1000 rupee notes in India and remonetization of the same have found themselves on the same page. Indians have already accepted this change and got along with it in despite lot of daily struggles in compensating for the discrepancies in the local level transactions.
The old and the new currency notes being variedly different from each other, there are fewer chances of legal issues and frauds in the country.
As remonetization initiates new struggles in the currency transaction of the country. Effective control on inflation and multi level corruption is being empowered along with lowering of cash transactions and changing the lifestyles on the masses.
It has in fact not left a single stone unturned in the Indian Financial Geography, however let’s now look at the Education Industry. Starting with the admissions procedure, initially the system was quite obviously hit by unavailability of the the new 500 and 1000 rupee notes and limited usage of the old notes. Then came the viability of legally white transaction in online and plastic money in fee payments of the students.
Teachers and professors from all colleges and institutes of big organisations and charitable trusts believed in this change and cooperated like all other Indians.
People working in the educational field and NGOs also appreciated this change, however as usual there were a few who could not look at the macro vision of the this change.
Free primary education however did not get affected much, just other than where their was any food and money transaction involved in the industry.
Education awareness campaigns in India have always been at 50- 50 success; however this trend has just been improvised by the new government and changed to the normal ration of full coverage by hustling the myth that this change would not make any overall betterments.
How the economy is changing from traditional farming business to Metropolitician IT culture. Traditional home business turning into corporates chains and following the metro cultures.
Changing from coins and notes to swipes and plastic has been as good as localization of processes and globalization of net based work. This has been a good move by our Prime Minister Hon. Mr. Narendra Modi and quite effectively implemented by India Government.
Now the hope for absolute control over high level or white collar frauds has been assured by remonetization and plastic money. Varied new options for easy startups of Engineering, Medical and Technology based companies has also increased. Simultaneously decrease in cash frauds and demand for cash transactions has also been good change. Moreover the e-money transfers have become a legitimate way for legal transfers of money for easy access to all financial processes. This move has generated clear footprints for developments and rare chances of loopholes in the Governmental and Financial processes.
Middle class Student and Parents have become free from the monotonous domination of donations related issues and unnecessary financial transactions in all kinds of educational admissions process.
Organisations have become free from any corrupt governmental trends set during previous years of governance. Clean India mission perspective from Ethical, Financial, Economic and Geographical point of view is becoming a Success and hopefully fruitful in the coming years.