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Nepali Migrants employed in India Struggle to Cope up with PM Modi’s Demonetisation Move due to Cash Crunch

Nepalis who do not have bank accounts have been advised to use their friends' accounts

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Many began lining up outside this bank in Gurgaon near New Delhi even before it opened its shutters to exchange notes that have been scrapped. (A. Pasricha/VOA) (Representational image)
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New Delhi, November 19, 2016: India’s demonetization of high-value currency has hit hard the tens of thousands of Nepali migrant workers employed in India as security guards, daily wagers, domestic helps and others who receive salary in cash, as they are struggling to cope with the situation.

Shyam Chaudhary from Bardiya district in Nepal, who works at a roadside restaurant in New Delhi, said it took a while before he realised the implications of the ban on 500 and 1,000 Indian Rupee notes by the Indian government on November 8.

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“I am struggling to meet my day-to-day needs,” said Mr Chaudhary. “Besides, I am worried how I am going to send money back home,” the Kathmandu Post quoted him as saying.

Mr Chaudhary said many Nepalis like him were seeking help from friends who had bank accounts.

“We are facing a lot of problems here,” he said.

New 500 and 2000 rupee note.
New 500 and 2000 rupee note.

Students who have bank accounts said they have not been able to withdraw money as many ATMs across India have run dry.

“We are taking the final exam. We are struggling to manage cash for auto and other expenses,” said Badal Basnet, a chartered accountancy student.

Many migrants send money back home on monthly basis. Now, with no new notes in hand and the old Rs. 500 and Rs. 1,000 notes becoming illegal tender, they wonder how they are going to remit the earnings.

“The transaction has gone down drastically by 70 per cent or so,” said Sunil Mishra, a representative from Prabhu Money Bank, a Nepali remittance company based in New Delhi.

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“We have advised Nepalis who do not have bank accounts to use their friends’ accounts.”

There are about two million Nepalis living in New Delhi only.

Around 50,000 students annually arrive in India to pursue higher studies. There are many Nepalis who come for medical treatment, of them about 100 Nepalis come daily for health check-ups, the Post reported.

A Nepali government official, who was in India for medical treatment, said he was hoping that his debit card would work at the hospital.

“But unfortunately it didn’t. I had to spend five hours in hospital and one of my friends paid the bill,” he said.

Nepal Rastra Bank (NRB), the central bank of the country, has also banned the 500 and 1,000 Indian Rupee notes after the Indian government’s decision on demonetisation.

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The NRB has said IRs 33.6 million in the denomination of 500 and 1,000 is within the financial system in Nepal.

The figure includes cash parked at vaults of banks, financial institutions and NRB.

According to the Federation of Nepalese Chambers of Commerce and Industry, hundreds of thousands of Nepalese who work in India stand to lose their entire savings if the now-scrapped notes are not replaced with legal bills. (IANS)

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  • Diksha Arya

    The demonetization is hitting hard to some people… but it’s for the best..

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Raja Chari: Indian American Astronaut chosen by NASA

Raja Chari, an American of Indian descent, has been chosen by NASA as one of the 12 astronauts for a new space mission.

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Raja Chari. Twitter.
  • Raja Chari is an American of Indian descent chosen by NASA for the new batch of astronauts
  • Currently, he is a Lieutenant Colonel in the US Air Force
  • Chari will have to go through two years of astronaut training which begins in August

June 06, 2017: NASA has chosen 12 astronauts out of a record-breaking 18,300 applications for upcoming space missions. An American of Indian descent, Raja Chari, has successfully earned his spot in the top 12.

The astronauts were selected on the basis of expertise, education, and physical tests. This batch of 12 astronauts is the largest group selected by NASA since two decades. The group consisting of 7 men and 5 women surpassed the minimum requirements of NASA.

Born in Waterloo, Iowa, Chari graduated from Air Force Academy in 1999 with a bachelor’s degree in Astronautical Engineering and Engineering Science. He went on to complete his master’s in Aeronautics and Astronautics from Massachusetts Institute of Technology. The astronaut is also a graduate of US Naval Test Pilot School.

Currently, Raja Chari is a Lieutenant Colonel in the US Air Force. He is the commander of 461st Flight Test Squadron and director of the F-35 Integrated Test Force at Edwards Air Force Base in California.

After Late Kalpana Chawla, Lt. Col. Raja Chari is the second Indian American astronaut chosen by NASA.

The 12 astronauts will have to go through two years of training. Upon completion, they will be assigned their missions ranging from research at the International Space Station, launching from American soil on spacecraft by private companies, to flying on deep space missions on NASA’s Orion Spacecraft.

The US Vice-President Mike Pence visited the Johnson Space Centre in Houston to announce and congratulate the new batch. Pence also said that President Trump is “fully committed” to NASA’s missions in space.

by Saksham Narula of NewsGram. Twitter: @Saksham2393