Chaos after Rs 500 and Rs 1,000 notes go out of circulation

Minutes after the announcement was made, there were long queues outside ATMs with people trying to withdraw money.

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New Delhi, Nov 8 The sudden announcement made by the Prime Minister of India, Narendra Modi to pull out of circulation the Rs 500 and 1,000 notes did lead to a lot of chaos.

atm

Minutes after the announcement was made, there were long queues outside ATMs with people trying to withdraw money.

The PM also said that ATMS would not be working on Wednesday in the wake of this announcement.

Outside the shops too there were people trying to do away with their Rs 500 and Rs 1,000 notes. Many shop keepers obliged and took the notes and handed over the people with change.

There were a large number of people who were at the petrol bunks too trying to do away with their notes of Rs 500 and Rs 1,000. Modi announced for the next 72 hours hospitals, railway reservation counter, petrol bunks and airports would accept the Rs 500 and Rs 1,000 notes.

Several persons outside the ATMs and shops were upset about this sudden announcement. They felt that more time ought to have been given. There were also discussions about how this issue needs to be publicised extensively to ensure that the people are fully aware.

The chaos is expected to continue tomorrow as well. Banks are expected to have long queues tomorrow. The banks would not function as normal and would attend to customers who would be submitting their Rs 500 and Rs 1,000 notes. Customers would have time till December 30th to do so.

If someone is unable to meet the deadline, he could do approach the RBI and submit the notes with a declaration.

OneIndia News

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