When Rs 500 And Rs 1,000 Currency Notes Can’t Buy You Anything

The government’s decision to withdraw, with immediate effect, Rs 500 and Rs 1,000 currency notes from circulation, left citizens off guard. The four-hour notice period led to some teething problems the day after the announcement. In a large economy like India, where a lot of transactions are done in cash, this sudden move meant that people were left scrambling for lower denomination notes.