The protector has become an oppressor, the fence has become the eater of crops.
The Yes Bank has become No bank.
Long ago demonetisation pauperised the poor by sucking money into banks only to be deployed back into the corrupt segment of the corporate sector with the full connivance of the state..
The banking which touches the millions of people lives, their savings and capacity for spending have been hijacked by the criminals.
Banks will lose credibility.
The payments mechanism will suffer.
The fear of losing money will enhance the liquidity preference of the general public.
This will necessitate to pump more cash, raising the cash to deposit ratio.
Already banks refuse to lend to the needy poor..
What will happen to financial intermediaries to the genuine real economy.