New Delhi, Nov 14: In a major attempt to tackle hoarding of black money, corruption and terror financing, Prime Minister Narendra Modi, on November 8, announced that all Rs 500 and Rs 1,000 rupee notes would cease to be valid in all forms of transactions.
The surprise step announced by PM Modi forced people to rush to banks and ATMs for Rs 100 notes. The ban on higher banknotes has kept people away from shopping and watching movies in theatre.
It has badly affected the the big fat Indian wedding season .The wedding festivity has turned into nightmare for both traders and families.
The sudden move announced by government left people in lurch. Public have to wait in long queues in front of banks across the country to exchange their now invalid currency notes for new currency notes.
Read More: What is Currency Demonetization?
The demonetisation has also affected the famous donkey fair held annually on the banks of river Kshipra in Ujjain, Madhya Pradesh.
According to reports, demonetisation has also hit business of malls, multiplexes and pubs during the weekend as the sales dipped by 20%-50%. It has also forced many Bollywood filmmakers to postponed their movie release dates.
OneIndia News (With inputs from PTI)