Relax! its more complicated and worse than that. You can't put in 1000's and 500's into ATM's anymore. Nor can you put 2000's as dimensions of the notes have changed! What that means is you need to put in all 100's. Basically the capacity of an ATM just came down by a factor of 10x. Worse there not many 100's going around. Whatever people get is going into hoarding(due to uncertainty of the future). Now imagine moving that kind of cash across every single ATM in India. And replenishing those machines every few hours. This is a logistical nightmare at gigantic levels. Banks aren't dispensing meaningful cash either, nor do a lot of people have bank accounts. So its a double whammy.
People aren't buying non essential goods. Clothing, Electronics others etc industry is suffering by the minute. There is no money to payout lower middle class and poor people. On top of this you see secondary effects like food running out, or getting expensive. No fuel. Emergency services in peril because hospitals aren't taking cash.
They need to find solution to the crisis within Monday before the poor have a last-straw-on-the-camel's-back situation, and something ugly unfolds from there on.
1.EMERGENCIES
2.FOOD
3.RIOTS
4.LAW ENFORCEMENT BECOMES NIGHTMARE.
5.Everybody is calm till supplies last. Locality by locality, then city by city and state by state will fall. Fall in terms of food supplies ,emergency services,transportation and then riots.
Actually what scares me is India has never had this situation before so nobody has this 'Whats next' knowledge to even think rationally about the whole situation.
But by looks like it that, credit kirana shop economy is quite close to collapse.
Hope they mobilize distribution on a war footing now.
People aren't buying non essential goods. Clothing, Electronics others etc industry is suffering by the minute. There is no money to payout lower middle class and poor people. On top of this you see secondary effects like food running out, or getting expensive. No fuel. Emergency services in peril because hospitals aren't taking cash.
They need to find solution to the crisis within Monday before the poor have a last-straw-on-the-camel's-back situation, and something ugly unfolds from there on.