Indian government introduces new notes in place of old Rs. 500 and Rs. 1000 notes (Representational Image)
Nov 17, 2016, 11.59 AM
Indian government scraps Rs. 500 ($7.50) and Rs. 1000 ($15) denomination currency notes from midnight. Old notes can be exchanged/deposited until December 30.
(Contributed by: Zeba Khan)
All ATMs and banks remain shut.
Markets open weak, with Sensex and Nifty down. Gold prices shoot up to three-year high.
Cops to not fine traffic offenders for two days.
Nov 17, 2016, 11.58 AM
Record number of bank accounts opened. Bank employees continue working over the weekend and for longer hours.
ATMs open up to long queues.
Friday movie releases postponed. Movie halls at several places record poor attendance.
Nov 17, 2016, 11.57 AM
Those missing the December 30th deadline can further change notes at RBI (Reserve Bank of India) till March 31, 2017, by showing ID proof.
Technical glitches and shortage of cash in ATMs leave several people stranded as they struggled to pay for basic goods.
Highway tolls eliminated for the time being.
Consumer demand hit as almost 90 percent of transactions have generally been done in cash.
Several private shops selling products other than daily goods remain shut across the country.
Nov 17, 2016, 11.56 AM
Less traffic on the roads; pollution levels drop in the National Capital Region drastically.
There is also a sharp decline in incidents of stone pelting on armed forces in the state of Jammu & Kashmir.
Thousands of trucks loaded with goods and daily necessities stranded on the roads owing to cash shortages.
Nov 17, 2016, 11.55 AM
Banks start putting ink marks to ensure people only change old notes once.
Winter Session of Indian parliament opens with opposition demanding answers on the implementation of demonetisation.
Nov 17, 2016, 11.45 AM
Ease for farmers and those getting married after demonetisation: Farmers can withdraw up to Rs. 25,000 per week, while those getting married can withdraw Rs. 2,50,000.
Government employees can withdraw advance salary if they want.