How to do demonetization or demonetization 101

Here is a dummies guide for demonetization. A few weeks before demonetization:

• Issue rule that all tolls booths, petrol pumps, buses, railways, city restaurants, post offices, etc have to accept payment by credit/debit cards, mobile wallets, etc; in addition to cash.
• Raise the limits on mobile wallets.
• Issue rule that while purchasing any item, the buyer has a choice to pay by card, mobile wallet, etc.
• Allow road side shops to load mobile wallets with cash and vice versa.
• Upgrade ATMs so that they can dispense new notes.
• Print enough new notes and disburse them at the start of demonetization
• Allow foreigners coming and people going abroad unlimited exchange at international airports, as long as they show their passport and ticket.

As soon as demonetization begins

• Customers can go their banks any time for deposit/withdrawal/exchange
• Foreigners and senior citizens only allowed in other banks for first 2 days.
• Women also allowed in other banks for next 2 days
• After 4 days, men can also exchange in other banks.

The Indian government did not plan the demonetization well. It is causing problems for citizens. By planning well, the demonetization would have been a lot smoother for the poor.