Demonetisation aftershocks rattle Koynanagar residents

KOYNANAGAR (Satara): The demonetisation of Rs 500 and Rs 1,000 currency notes appears to have set off a financial upheaval for Koynanagar's residents. The place is better known for frequent tremors attributed to Koyna dam, among the state's big gest irrigation projects.
All that the 42 villages, located in a quake-prone area around the dam, have is a solitary 'cashless' Bank of Maharashtra branch with three employees and no ATM.Life in Koynanagar town and the surrounding villages has almost come to a standstill due to the cash crunch.
The branch began issuing cash only in the last few days.People have to travel 20-30 km to exchange their notes and withdraw money , an exasperation in itself because of the frequent need to catch public and private transport to reach from the nearby towns of Patan and Malharpeth.
Not much help is coming as villagers describe the situation as worse than the tremors they have now become used to ever since the dam was constructed in 1962. Till date, about 22 tremors of magnitude 5 and above, 200 of the magnitude 4 and above, and several thousand smaller tremblors have occurred in the region.
The 6.3 magnitude Koyna earthquake in 1967 is the largest reservoir triggered earthquake in the world.
“After earthquakes, the government comes to our rescue. But when the government creates a tremor, who will help us?“ Kshama Chougule said. She has walked about 4km from her hamlet to open a bank account. With an old Rs 500 note she requests those standing in the line to fill a form.
“I don't have enough money to deposit in the bank and never thought of opening a bank account. But now, nobody is accepting this note and I need an account to get it exchanged,“ she said, adding that she doesn't think that she will operate her account once she gets the note exchanged.
Sitaram Kadam knows the importance of disaster management having lived in this zone. “I don't think the government gave a thought to the economic disaster before scrapping these two currency notes.Here in Koynanagar we are always prepared for tremors and our rescue systems are in place. Even while building houses, we use tin roofing and not concrete slabs. There are no multistoried buildings. We pre pare for disaster and keep rescue measures ready. We don't complain about the demonetisation, but the government didn't think about the consequences and what will happen to people like us,“ Kadam, a hotel owner at a bus stop, said. He has been waiting for customers for the entire day since his business came to naught after demonetisation.
Across the road, as the crowd swelled inside the bank with dilapidated walls and a tin roof, the branch manager is eating his lunch.People restlessly mill around as the person at the counter issuing new currency notes goes for a tea break.
“The bank has not issued money since November 9. We were told that they have no currency. When the cash arrived, the server was down as monkeys destabilized the internet antenna.My wife is ailing and I have no money. I have been queuing up here for the last 10 days,“ R L Gandhare, an employee at Koyna dam division, said, his voice growing shriller for the bank manager to hear.
He returned from lunch, and did not give his name and murmured, “We are helpless. We distribute money as and when we get it. We are four persons in this branch, but one is always on leave,“ he said, burying his head in a sheaf of papers.
As crowd grew impatient, the employee who had gone for a tea break came back and switched off the lights.“Cash is over. Come on Monday,“ he said even as customers shouted at the employees who silently packed their lunch boxes and relaxed in their chairs.
Local journalist Vijay Lad said the aftershocks of demonetization have completely rattled the local market economy and agriculture. “The markets are empty and farmers are sitting empty handed. Agriculture and tourism are two main activities that keep the economy going. But today, both are adversely affected.We can't do anything to improve the situation, but just wait for things to turn normal,“ he said, adding that the voice and the woes of the masses in remote areas have not reached Prime Minister or his Cabinet.
“The government wants us to keep calm for 50 days.We have been calm for the last 50 years since the dam was built. Our forefathers who gave up land for the dam were promised quality life. The entire state is getting electricity from the hydel project on this dam, but see what has happened to our lives,“ an agitated hawker selling bananas on the main road to Koynanagar said.
When asked for his name, he reacted defensively. “What you will do with my name? We are the nameless and faceless people who suffer -be it an earthquake or the scrapping of big currency notes,“ he said.