Panic attacks in black money hoarders – how to handle


November 23, 2016

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Last week, Rs 500 and Rs 1000 currency was scrapped in India and many millionaires/billionaires in the country lost millions of unaccounted cash, which was accumulated as wealth over the years. Imagine, a sudden change in government policy and it impacted the people psychological health. A 45-year-old businessmanexperienced bouts of palpitation, heavy breathing and profuse sweating turned out to be panic attack and not any heart disease. With loads of cash at home, the man was stressed, struggling to sleep and breathe since the announcement.

There is spurt in panic attacks cases specially – builders community, traders, officials and some house wives too with unaccounted cash. The panic attacks are usually occur in state of stress when the patient is feeling helpless with no hope with loads of regrets or guilt. Many patients are suffering of the regret of not declaring the “black money” during recent end of assessment year, many were saving money for a purpose that’s defeated, or under business pressure of not able to do certain transactions with white money.

Experts say this drive is having the same effect as an earthquake on those with unaccounted cash. After an earthquake, there is first an increase in the levels of anxiety which develops into a panic attack sometime later. It is been more than a week since the announcement and the panic attacks have just started. While it is a stress situation, however only few are seeking care currently.

Psychiatrists fear cases of panic attacks, anxiety and depression will increase as the deadline for depositing the scrapped notes approaches in December. There is a feeling of nervousness amongst people and here are ways they can take care of their mental health at this time.


  • Do not believe in every bit of input, it could be a rumour, check the source or rather go to the concerned stakeholders for all the doubts
  • It is always better to act ethical in such a situation and seek guidance
  • Do not overthink and look for solutions
  • Avoid people who could be just trying to exploit your situation. Mind you there are many who will try to make fool of you
  • Spend time with people who are motivating and give you stress freetime.
  • Do not wait, seek medical help or counselling help in case of issues
  • Remember, there are many like you and you will also get solution. Talk to such people in similar situation.

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