I was equally surprised with this strategy. Imagine the Hospitals and other establishments who always give us an excuse "sir, credit not accepted only cash"

What about them?

This is a good decision to curb Black Money. I appreciate Modi .

By the by how are you Swetha ?

It may be to control fake currency.

anil wrote:

It may be to control fake currency.

May be. But the main objective is to stop Black Money.

This is a great move because it has been implemented without much fanfare thereby robbing the hoarders a chance to manipulate and change their black money and for the first time this has been done by a committed govt in India..

Though its a good initiative to curb the problem of black money, it ll also pose a problem for many people who are earning their money honestly. What concerns me is if by chance we don't exchange the money at bank by 11th of Nov, then what happens to those Rs500 & 1000 currency notez that we ve with us. I mean can't we use it anymore after 11th Nov?

There is no worry at all Jabeen since one can exchange the notes until March 31st 2017 by which time the new notes would be in circulation. It has been a sudden decision taken by the govt and is bound to cause some concern but one can exchange notes in banks, post offices and also show ID proof and pay for petrol, at the chemist and several other outlets using the old 500 and 1000 rupee notes..

http://timesofindia.indiatimes.com/india/Heres-what-you-can-do-with-your-Rs-500-Rs-1000-notes/articleshow/55316268.cms

Along with that the restriction that u can withdraw only 2k from atm.... Ths would mean I need to visit the atm for atleast 15 days a month if u need to pay my maid... Milkman... Car cleaner... Watchman etc etc... Wht is the use if I hv to take so much trouble to use my own hard earned money

rambabu wrote:

This is a good decision to curb Black Money. I appreciate Modi .

By the by how are you Swetha ?

I am doing good Rambabu gaaru, trust the same from you?