Note Ban: In Rush to Go Cashless, the Old Have Been Left Behind

The elderly standing outside banks and ATMs are the worst affected by demonetisation, writes Jagriti Gangopadhyay

A senior citizen sits as others stand in queue outside an SBI branch to exchange old notes in Amritsar on 19 November 2016. (Photo: PTI)

On a recent visit to the bank, while I was waiting for my turn, an elderly gentleman nudged me and asked me if I could allow him to go before me. He was eighty-years-old and lives alone with his wife. Their only son lives in the US. He suffers from arthritis and cannot stand in the queue for long. He also mentioned that this is his fourth visit to the bank and he does not wish to go empty-handed.

In another instance, an elderly woman standing in the ATM queue was requesting some younger individuals if they could allow her to go before them. However, she faced constant refusal. These are some of the narratives being recounted in respect to what the elderly are facing because of demonetisation.

Rush to Become a Cashless Society

With the stress on a cashless economy and switching to cards and Paytm, the government has ignored the elderly as a community. A large number of the elderly in India live alone and they withdraw most of their cash from the bank on the first day of the month for their daily expenses. In the midst of the transition to a digital India, the government is failing to recognise that a large section of the Indian population might not be equipped and trained to become cashless.

In particular, a focus on the elderly in India highlights that going to the bank and withdrawing cash is the preferred mode of all monetary transactions. While the poor elderly are struggling to open bank accounts, the rich, educated elderly are struggling in bank queues. Given the fact that there are hardly any policies to improve the conditions of the elderly in India, the demonetisation policy is a huge blow laden with multiple hurdles.

Increasing the Vulnerability

Given the fact that the elderly have several health issues, standing in the queue either in the bank or outside an ATM is now a part of their daily existence. The government should not ignore the issue of the elderly and ensure that there are separate counters for the elderly in banks. Additionally the elderly should be given an extension to exchange their Rs 500 and Rs 1,000 notes, in contrast to what the general public has been allowed. As per the recent Census data (2014), 15 million elderly people live alone in India.

The new policy of demonetisation will affect their daily lifestyle and also increase their vulnerability under the present circumstances. The government should urgently address the contentious issue before it’s too late.

(The writer is a Senior Research Associate at Rajiv Gandhi Institute of Contemporary Studies. This is a personal blog and the views expressed above are the author’s own. The Quint neither endorses nor is responsible for the same.)

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