How 500-1000 Currency Notes AFfecting you Guys?

[ajayghayal]

HI all members,
After 8th November 2016, how the demonetization of 500-1000 currency notes are affecting you?
Will it be beneficial for common people? What are your views my dear friends?
ajayghayal

[Forbiddenone]

HI all members,
After 8th November 2016, how the demonetization of 500-1000 currency notes are affecting you?
Will it be beneficial for common people? What are your views my dear friends?
ajayghayal

It doesn't affect me,goverment is doing right thing in introducing new notes as it will decrease the illegal thing done by notes.but it will not affect bitcoin dark marketplace.

[bitcoinisbest]

It has effected each and everyone of the country persons. For black money hoarders thinking what to do and for people who dont have much money left thinking when will they get money from the bank.

[philiveyjr]

Obviously I don't have tons of cash in hand and most of it is in 500/1000's. So definitely has affected me and my family in the short term, but I am rooting for the bigger good. Hopefully the cause it aims to achieve can be successful.

[Rude Boy]

Yes of course, it affects me a lot. Not only me, most of the peoples were affected. I didn't received this month's salary because, a person can withdraw only Rs.4000 per day so my owner cannot afford to give us the salary and he didn't kept his money on hand.

[erikalui]

For me, it did not make any difference as I mostly use my debit/credit cards and that day I did not have any 500/1000 notes as I had change available. I was about to withdraw cash when the news came out and then after 2 days, I got the new notes. It is affecting many shops in my area as barely there are people buying from them due to shortage of currency.

[nizamcc]

For me, it did not make any difference as I mostly use my debit/credit cards and that day I did not have any 500/1000 notes as I had change available. I was about to withdraw cash when the news came out and then after 2 days, I got the new notes. It is affecting many shops in my area as barely there are people buying from them due to shortage of currency.

You were lucky enough to have change available with yourself, as I was just having one 500 note with me when the announcement was made, and as nobody except banks were taking the note at my place, I stayed hungry for 3 days. No doubt it was my fault that I didn't go to banks due to my laziness, but this step affected me in that way.

[xdrpx]

I haven't been deeply scarred or affected by this initiative. Modi's Government chosen the right path to regulate and refine the Banking industry and to curb corruption, fake currencies and black money. Like advertised on TV's and radio's, it's going to be a bit difficult in the initial days standing in long queues at banks to deposit and exchange (with the exchange limits in place and this getting lesser as well), but at the end of the day it's the essence of victory that we should feel when it comes to those black money hoarders living on peoples hard earned cash without contributing back to the Government for the nations development.

[susila_bai]

For me, it did not make any difference as I mostly use my debit/credit cards and that day I did not have any 500/1000 notes as I had change available. I was about to withdraw cash when the news came out and then after 2 days, I got the new notes. It is affecting many shops in my area as barely there are people buying from them due to shortage of currency.

You were lucky enough to have change available with yourself, as I was just having one 500 note with me when the announcement was made, and as nobody except banks were taking the note at my place, I stayed hungry for 3 days. No doubt it was my fault that I didn't go to banks due to my laziness, but this step affected me in that way.

you are speaking about yourself but think about the common and village peoples where their is only one bank for 2 or more villages they are staying in ques for more then 2 or 3 days to just change or withdraw money and that too only 4000.

The policy of changing note is good but they should have made full facility of after the announcement how the people will be changing it . without any proper paper work done of after announcement they have announced it and now they are not able to manage the situation

[pvaspecialist]

I think common people will not affect with this decision.they don't have huge money common people don't benefit with this decision but this decision will really helpful for Govt. to catch corrupt people.Govt. need to catch big whale who have money on Swiss bank.lets see how govt. can handle this situation.

[Sahyadri]

Was not affected at all.

Most of my transactions are online. Have Rs. 6000 worth of Rs 500 & 1000 notes which I havent exchanged yet. Will deposit on Monday as the rush has decreased.

Had Rs 600 worth change which was sufficient cash for me

[erikalui]

For me, it did not make any difference as I mostly use my debit/credit cards and that day I did not have any 500/1000 notes as I had change available. I was about to withdraw cash when the news came out and then after 2 days, I got the new notes. It is affecting many shops in my area as barely there are people buying from them due to shortage of currency.

You were lucky enough to have change available with yourself, as I was just having one 500 note with me when the announcement was made, and as nobody except banks were taking the note at my place, I stayed hungry for 3 days. No doubt it was my fault that I didn't go to banks due to my laziness, but this step affected me in that way.

That's sad to hear and hope the situation has improved now.

I had just Rs. 700 but I managed with debit card payments. I don't know what's coming in the next few days as my bank ICICI has no money in its ATM and my area ATMs too are without cash. Most shops here don't accept debit cards and I hope that the banks cooperate.

[philiveyjr]

Had similar problems. Atm's are too overcrowded but today seemed to be much better than last week. Hoping things would improve in the coming weeks. Don't have much cash to exchange, and have been making all my transactions using debit cards, so fine for now.

[nizamcc]

For me, it did not make any difference as I mostly use my debit/credit cards and that day I did not have any 500/1000 notes as I had change available. I was about to withdraw cash when the news came out and then after 2 days, I got the new notes. It is affecting many shops in my area as barely there are people buying from them due to shortage of currency.

You were lucky enough to have change available with yourself, as I was just having one 500 note with me when the announcement was made, and as nobody except banks were taking the note at my place, I stayed hungry for 3 days. No doubt it was my fault that I didn't go to banks due to my laziness, but this step affected me in that way.

That's sad to hear and hope the situation has improved now.

I had just Rs. 700 but I managed with debit card payments. I don't know what's coming in the next few days as my bank ICICI has no money in its ATM and my area ATMs too are without cash. Most shops here don't accept debit cards and I hope that the banks cooperate.

I support the initiative that has been taken by the PM, but IMHO, the implementation was worst.
The ones who are suffering currently are the common man only, because even if people had black money, I saw many to have their cash managed to turn out to current new cash without any hassle, with some % on those exchanges.

[jjjack]

if u have a black money that time only it will affect or other wise it wont affect any one i my point of view the idea was good at the end of the day it the value of bitcoin will increase next time black money holder will invest in bitcoin

[bitcoinisbest]

if u have a black money that time only it will affect or other wise it wont affect any one i my point of view the idea was good at the end of the day it the value of bitcoin will increase next time black money holder will invest in bitcoin

That is true but only thin was the long queues in the bank and then knowing only 2000 Rs notes available and not 500 or 100 is something a big worry as smaller denomination like 500 should be available the maximum rather than 2000.

[rajasumi3]

Black money holders are having a bad time that they cant use it any more .well to be honest it is best for the common man .but trust me it can turn out to be the worst that the price of all the things would go up drastically .so hope it does not happen and we live happily .

[eaLiTy]

It is pure hectic and troublesome for me as i landed here on 9th without knowing this new rule and exchanged all the money to old currencies and got trapped as i was not able to use it even with a legal tender at hand,i do like the bold decision they took but they should have taken some steps inorder to counter the difficulties a common man encounters.

[Blackshadow007]

It is difficult cause the ATM withdraw limited , and there is huge queue on banks and ATM .. but i guess we may see some good effect in long term . I guess more one or two months we have to suffer to get stabilized

[nizamcc]

Black money holders are having a bad time that they cant use it any more .well to be honest it is best for the common man .but trust me it can turn out to be the worst that the price of all the things would go up drastically .so hope it does not happen and we live happily .

No bad times for them, Raja, no bad times seriously.
They already managed everything way before this happened. You understand why Mr. Ambani launched Jio suddenly and gave so much free data? Is that guy out of his mind? Do you know many BJP branches deposited few crores in bank accounts just before this announcement? And even after this announcement, do you still think that these black money holders aren't exchanging their black money for white through different ways?