I can hope for a more progressive move through this breakthrough. Hoping to move towards cashless economy. That seems a tough task for a country where cash flow is abundant but with such calculated move, plans and awareness we can see it in reality in coming time. Let's all work for it. Only when we work towards cashless economy, corruption will be controlled, other evils like fake note currency will decline and above all the economy will stabilize. Some stringent laws like limit to with drawl from ATM,  Strict policy over cash transactions ( no transaction above 10K in cash) etc should be implemented. Less paper currency circulation is good for the country as whole as well as for environment.

In kerala also many local shops are accepting the 500rs note in case of urgent needs..but in chennai no such gestures from the shop owners or even the local water can supplier. Sad. 

Today morning 8 o clk i went to atleast 7 to 8 ATM but all out of cash. I am wondering the new note filling was done or has everyone withdrawn the amounts so soon. 

Divya wrote:

In kerala also many local shops are accepting the 500rs note in case of urgent needs..but in chennai no such gestures from the shop owners or even the local water can supplier. Sad. 

Today morning 8 o clk i went to atleast 7 to 8 ATM but all out of cash. I am wondering the new note filling was done or has everyone withdrawn the amounts so soon. 

Yes. I was seeing News channels. Most of the ATMs are not functioning properly. It happened because the software related to Rs. 2000 is not updated. The same position is prevailing in Vizag and Hyderabad. Now the Bank Management is trying to update the software. It may take 2 to 3 days.

The ATMs are loaded not by banks but by other agencies and they have a certain time for doing it...normally at abt 10am or so..

Divya wrote:

In kerala also many local shops are accepting the 500rs note in case of urgent needs..but in chennai no such gestures from the shop owners or even the local water can supplier. Sad. 

Today morning 8 o clk i went to atleast 7 to 8 ATM but all out of cash. I am wondering the new note filling was done or has everyone withdrawn the amounts so soon. 

Just an hour ago, I paid my net service provider using old 1000 note.

Now black money users are searching for ways to convert some of their money to white. Some are investing in gold, petrol pumps, hospitals and according to news someone has thrown bundles of 500- 1000 rupees and set fire to them. Government is taking strict action against culprits , many raids are done in Mumbai and other places. This is a bold step from current government, mostly people are praising only a few are against this step.

Manoj Kumar Lamba wrote:

Now black money users are searching for ways to convert some of their money to white. Some are investing in gold, petrol pumps, hospitals and according to news someone has thrown bundles of 500- 1000 rupees and set fire to them. Government is taking strict action against culprits , many raids are done in Mumbai and other places. This is a bold step from current government, mostly people are praising only a few are against this step.

It is true Black Money holders are devising ways to convert Black Money in to white. For example, Rs. 1000 of Black Money will become Rs. 850 after commission charged by these Brokers. I don't know if there is a way with the Government to arrest these malpractices.

Manoj Kumar Lamba wrote:

Now black money users are searching for ways to convert some of their money to white. Some are investing in gold, petrol pumps, hospitals and according to news someone has thrown bundles of 500- 1000 rupees and set fire to them. Government is taking strict action against culprits , many raids are done in Mumbai and other places. This is a bold step from current government, mostly people are praising only a few are against this step.

They are coming up with real innovative ways for this black to white conversion. Here are a few which did not work out ... :P

http://economictimes.indiatimes.com/news/politics-and-nation/money-hoarders-their-jugaad-some-are-paying-salaries-in-advance-others-are-purchasing-gold/articleshow/55341853.cms

Not surprised. They say crime always walks two steps ahead of the Law. If one trick fails, Black Money holders  devise  another innovative trick

I am confident the Government will definitely find an antidote for these type of heinous crimes.

To get back 100% black money back from a morally paralyzed society is next to impossible. This move is a breakthrough and will definitely alert them for future. corruption can be brought to it's minimal level only through spreaded awareness and promotion of cashless transactions.