It's Chaos on the Roads as Panicked People Queue up Outside ATMs

| | November 8, 2016, 11:31 pm
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PM Modi scrapped the existing currency denominations of Rs 500 and Rs 1,000 to combat black money, corruption and terror-financing.

PM Modi scrapped the existing currency denominations of Rs 500 and Rs 1,000 to combat black money, corruption and terror-financing.

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“These notes will just be paper from tomorrow,” Prime Minister Modi said.

“These notes will just be paper from tomorrow,” Prime Minister Modi said.

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Notes and coins of all other denominations continue to be legal tender.

Notes and coins of all other denominations continue to be legal tender.

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Currency notes of Rs 500 and Rs 1,000 can be exchanged in banks and head post offices till December 30, 2016.

Currency notes of Rs 500 and Rs 1,000 can be exchanged in banks and head post offices till December 30, 2016.

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ATMs will not function till November 9 and in some places till November 10.

ATMs will not function till November 9 and in some places till November 10.

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After December 30, 2016, notes can be exchanged at a local Reserve Bank of India office till March 31, 2017.

After December 30, 2016, notes can be exchanged at a local Reserve Bank of India office till March 31, 2017.

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People in Mumbai wait outside ATMs to deposit Rs 500, Rs 1000 currency notes.

People in Mumbai wait outside ATMs to deposit Rs 500, Rs 1000 currency notes.

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People throng ATMs in huge numbers in Chandigarh.

People throng ATMs in huge numbers in Chandigarh.

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People queue outside HDFC ATM, Noida Sector 34

People queue outside HDFC ATM, Noida Sector 34