However, the sudden decision on the part of the government took everyone by surprise.
Nobody was prepared to cope with the immediate effect of the decision.
On its second day, since the government demonetized high value currency notes, chaos ruled the roost across the country on Thursday.
The public at large was left high and dry as banks and ATMs remained closed on Wednesday.
Thursday also did not bring much cheer to the people. Banks saw huge queues in front of them as customers tried their best to exchange their Rs 500 and Rs 1,000 notes for lesser value denominations.
Several people with whom OneIndia spoke to said that without money it was difficult to conduct their day today activities smoothly.
Many, who are currently travelling to different places, are facing severe problems.
Rahul KN, who came to Bengaluru from Chennai on Tuesday, said he did not eat food on Wednesday.
"I don't know anyone in the city. I just reached Bengaluru on Tuesday night. I am carrying high value notes. I did not eat anything on Wednesday. I am staying in a lodge and it does not provide meals. Thankfully, on Thursday the hotel manager took pity on me and gave me two Rs 100 notes," said Rahul, an engineering graduate, who is looking for a job in the city's IT sector.
Similarly, Rajiv Kishore, a security guard, who works in an apartment in Bengaluru, said, "I just got my salary two days ago. So, I have only Rs 500 notes with me. Thankfully, I have a piggy bank and I broke it to buy few essentials items."