What exactly will happen in the coming years and whether the move will check black money hoarders etc. will be proven in the coming times, but as of now, it has certainly thrown numerous into the mode of panic attack. I saw a news flash today afternoon, but missed the beginning so was not able to understand exactly where, but it looks like somewhere in South, politicians have organised major camps where they are distributing wads of 500 and 1000-rupee notes to the gullible poor under the guise of 'loan'! What a way of getting rid of unaccounted money!

Today I went to Bank and I saw that people are rushing there to exchange their notes first and I didn't understand why they are not understanding that there is so much time to exchange their money.

Babu saroj wrote:

Today I went to Bank and I saw that people are rushing there to exchange their notes first and I didn't understand why they are not understanding that there is so much time to exchange their money.

Same situation is prevailing everywhere. There is a panic rush everywhere. Here in Imphal, in one of the bank the people were allowed to exchange only upto Rs2000 & nt Rs4000 as the queue of people coming to exchange the notes were too long. Fortunately in some of the big shops transaction could still be done using Rs 500 &Rs1000 notes as the shopkeepers were sane enough to realise that these notes could be deposited in the bank til Dec.

Babu saroj wrote:

Today I went to Bank and I saw that people are rushing there to exchange their notes first and I didn't understand why they are not understanding that there is so much time to exchange their money.

Because they dont use their common sense..One can understand people wanting to withdraw money but deposit can wait..

Kalyani Nandurkar wrote:

What exactly will happen in the coming years and whether the move will check black money hoarders etc. will be proven in the coming times, but as of now, it has certainly thrown numerous into the mode of panic attack. I saw a news flash today afternoon, but missed the beginning so was not able to understand exactly where, but it looks like somewhere in South, politicians have organised major camps where they are distributing wads of 500 and 1000-rupee notes to the gullible poor under the guise of 'loan'! What a way of getting rid of unaccounted money!

It is happen in Kollar, Karnatka, read more

http://epaper.bhaskar.com/detail/1086674/111042431515/0/map/tabs-1/11-10-2016/41/1/image/

 

jabeen wrote:

Babu saroj wrote:

Today I went to Bank and I saw that people are rushing there to exchange their notes first and I didn't understand why they are not understanding that there is so much time to exchange their money.

Same situation is prevailing everywhere. There is a panic rush everywhere. Here in Imphal, in one of the bank the people were allowed to exchange only upto Rs2000 & nt Rs4000 as the queue of people coming to exchange the notes were too long. Fortunately in some of the big shops transaction could still be done using Rs 500 &Rs1000 notes as the shopkeepers were sane enough to realise that these notes could be deposited in the bank til Dec.

That is really nice when businessmen think wisely and help out people. here too in Mangalore I was able to use my 500 and 1000 rupee notes in a couple of shops as well other than the chemists, petrol station etc..Banks were filled to capacity as if this is the last day on earth ..

usha manohar wrote:

jabeen wrote:

Babu saroj wrote:

Today I went to Bank and I saw that people are rushing there to exchange their notes first and I didn't understand why they are not understanding that there is so much time to exchange their money.

Same situation is prevailing everywhere. There is a panic rush everywhere. Here in Imphal, in one of the bank the people were allowed to exchange only upto Rs2000 & nt Rs4000 as the queue of people coming to exchange the notes were too long. Fortunately in some of the big shops transaction could still be done using Rs 500 &Rs1000 notes as the shopkeepers were sane enough to realise that these notes could be deposited in the bank til Dec.

That is really nice when businessmen think wisely and help out people. here too in Mangalore I was able to use my 500 and 1000 rupee notes in a couple of shops as well other than the chemists, petrol station etc..Banks were filled to capacity as if this is the last day on earth ..

For a moment think for a low earning person who have only 2 or 3 note of 500 Rs. These people buy their from small shops or from street vendors who have not bank account.

I was really impressed by one foundation for Special children running near our house. The teachers and volunteers of that foundation came out on street to spread awareness among vegetable and other vendors across the road. They were spreading awareness among the people who earn daily wages and were attacked by this panic. They were spreading awareness in local kannada language to make them understand the real benefits and even to ignore the panic created by half known facts.

Reminds me of ripple effect in society. Let's all do our part to ease the inconvenience caused to people like our maids, cooks and other. A simple step to support the visionary move.

The govt wants to organise economy in such a way that each person and his finances however small are accountable which has never happened here. All developed countries make it mandatory for you to have a social security card and all your transactions get traced through that which is not the case here. we have a pan card , an Aadhar card , an election card , a ration card and so on...so very confusing to keep track. this is the first step,there are many more reforms to come from the Modi government !

Arunima Singh wrote:

I was really impressed by one foundation for Special children running near our house. The teachers and volunteers of that foundation came out on street to spread awareness among vegetable and other vendors across the road. They were spreading awareness among the people who earn daily wages and were attacked by this panic. They were spreading awareness in local kannada language to make them understand the real benefits and even to ignore the panic created by half known facts.

Reminds me of ripple effect in society. Let's all do our part to ease the inconvenience caused to people like our maids, cooks and other. A simple step to support the visionary move.

Yes if possible than we must be change their 500 notes in 100 Rs notes. It is easy for us to deposite these in our bank account.