After the key announcement made by Prime Minister Narendra Modi regarding the demonetizing high-value currency notes, a woman from Shanigapuram village in Mahbubabad Mandal Telangana committed suicide on Thursday believing that the Rs 25 lakh cash in 1,000 and 500 stashed at her house had become worthless.
According to the reports, Kandukuri Vinoda (55) had sold her 12 acres at Amanagal for Rs 76 lakh to realtors two months back. She spent Rs 2 lakh on treatment for her husband who is suffering from paralysis. The buyers had paid Rs 48 lakh in installments and the remaining amount was pending. Vinoda’s family had kept the money in their house instead of at a bank as they were planning to buy another piece of land. She also cleared a debt of Rs 20 lakh.
On Wednesday, after Prime Minister Narendra Modi announced the demonetization of 1000 and 500 rupee notes, villagers told a panicked Vinoda that the old high-denomination notes were of “no use” and were “as good as waste papers”. Also, there was an argument between the mother and son regarding the money. Disturbed because of the argument with her son and the ban, she committed suicide early on Thursday morning.
One of the villagers says Sanagapuram, R Madhukar, said most land transactions in rural Telangana happen through cash. “This is marriage season in Telangana and most of the households keep high-denomination money at home. Pulling these notes out of circulation has left most of us in the lurch,” he said.
Most of the people from rural areas have been unable to comprehend the guidelines released by the RBI and several rumors that are making the rounds have made matters worse.