Before cheering demonetisation, let’s remember the rest of india
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We have done studies on the concept of ‘wants’ and ‘needs’ across numerous states in the context of financial literacy. Our findings show that many don't approach banks – for ATMs stay
shut days at a go – and they must wait weeks for money to be credited in the event that the employer agrees to online transactions. The nearest bank is an expensive bus ride away (expensive
from the point of view of the stakeholder) and because credit in rural parts is quick and easy (despite its expensive and often exploitative nature). There is a fear of signing cheques and
putting your thumbprint onto documents one can’t read. In our field trips to rural parts, hotels and taxi services, refuse to allow you in/offer service, unless you make payments in cash. If
you have ever visited a Koderma in Jharkhand or a Kanpur in Uttar Pradesh, you must know the battle it is to get bills and invoices to seek reimbursement from your office. On a particularly
long field assignment, for a ten-day stay for five rooms, our hotel manager made us travel to an ATM 40 km away to withdraw cash, or leave the premises. Swiping machines are automatically
rendered useless and kitchens shut early if you mention you are carrying a card.