Is Demonetisation A wake-up Call For Women That Cash Cannot Be Trusted

While homemakers’ plight after demonetisation has been highlighted, does it also point to the need for at least educated women to start moving away from cash and into investments?

As India continues its fight against corruption, terrorism, and embarks on a path to development, the demonetisation move has caused much joy as well as heartburn across segments of society. As India Inc and the salaried middle class who have paid their taxes for years, hail this move, the poor, the traders and the ones who have depended on cash are wringing their hands in misery as businesses have been hit in a now literally, cash-strapped economy.

While certain segments of society have obviously been hit, there is a huge distressed segment that has been largely ignored: that of homemakers in India.

 Stories have come to light of many homemakers stashing away cash for emergencies and for their own needs, away from the prying eyes of husbands and in-laws. While the media has been decrying the move for these housewives who have had to declare their stash to their husbands and families, what many fail to appreciate is that now these very same homemakers will be forced to think of means to put this same money into the bank. Not only will their money be secure in the bank, but more importantly, the money will grow with inflation.

Read more…

This article by me has been first published on Women’s Web.