On November 8, 2016, India’s Prime Minister Narendra Modi announced demonetisation in India. The move meant that Indian currency notes of Rs 500 and Rs 1,000 wouldn’t be considered as legal tender anywhere in the country. Many people across the country faced a lot of trouble with this announcement and what followed was the crowding of ATMs and attempts to convert the money into smaller change. Five years on, here is a lookback at how the country had to deal with the situation
Updated On: 2021-11-08 06:11 PM IST
A week after demonetisation was announced on November 8 in 2016, people queue up outside an ATM at Fort to withdraw money. Photo: Mid-day file pic/Datta Kumbhar
In the week after demonetisation was announced by Prime Minister Narendra Modi, people queue up outside an ATM in Colaba to withdraw new currency notes. Photo: Mid-day file pic
Business was in full swing at the Sassoon Docks at 5.30 am on November 10 in 2016 with many fisherfolk accepting old notes. Photo: Mid-day file pic/Bipin Kokate
Fisherfolk wait to sell their fish at Sassoon Docks early on November 10 five years ago, two days after demonetisation was announced by Prime Minister Narendra Modi. Photo: Mid-day file pic/Bipin Kokate
A little less than a month after demonetisation was announced in 2016, people wait to withdraw from a Navi Mumbai ATM on payday. Photo: PTI
