GATE | GATE CS Mock 2018 | Question 7

The long, anxious, and frustrating wait by people outside banks and ATMs across the country over the last five days is an inevitable consequence of the decision to demonetize notes of Rs.500 and Rs.1,000. When 86 per cent of the value of notes in circulation turns suddenly invalid, as it did with Prime Minister Modi’s ‘surgical strike’ last week, a certain degree of disruption and pain is unavoidable. But the question is whether this chaos could have been anticipated and managed better than it has been. Replacement of the demonetized notes is a time-consuming exercise that requires planning of the highest order. The experience of the last few days shows that preparation was lacking and the transition could have been handled much better. Thankfully, the Centre has woken up to ease the pressure on the system by increasing withdrawal limits, allowing for petroleum outlets and hospitals to accept the old series of notes until November 24 and pushing more cash through post offices. Which of the following option is false ?