On November 8, 2016, Prime Minister Narendra Modi announced that Rs 500 and 1,000 notes would cease to be legal tender. The announcement followed long lines at banks to exchange or deposit these notes. Cash shortage, loss of cash-dependent jobs, and long lines of desperate people defined India for weeks to come.
Indian Youth Congress observed Black Day on the first anniversary of demonitisation at Raisina Road, on November 8, 2017 in New Delhi.
Congress workers protest against one year completion of Demonetisation and BJP Govt, outside Mulund Railway Station, on November 7, 2017 in Mumbai.
Rahul Gandhi in Queue at SBI Bank Parliament Street on November 11, 2016 in New Delhi.
People queue up inside a post office to exchange their old Rs 500 and 1000 notes on November 11, 2016 in New Delhi.
Villagers standing in a queue after affect of demonetisation at Rani Ganj town Ameythi.
People are upset as the BSES Department refused to accept their Rs. 1000 and 500 currency notes to pay their electricity bill in Mayur Vihar on November 9, 2016 in New Delhi.
Notice stick outside the showroom after demonetization of 500 and 1000 currency notes at Chandni Chowk on November 9, 2016 in New Delhi.
The garlands made of Rs. 10, 50 and 100 normally used for marriages as Rs. 500 and 1000 are missing after government banned the Rs. 500 and 1000, at a shop in Kinari Bazar area on November 9, 2016 in New Delhi.
People queue up outside ATMs to withdraw hundred rupee notes on November 8, 2016 in New Delhi.
People watching TV during the prime minister Narendra Modi address Nation on November 8, 2016 in New Delhi. Prime Minister Narendra Modi in his 40-minute speech announced scrapping the Rs 500 and Rs 1000 notes effective midnight of November 8 sent out a loud and clear message in the war on black money and corruption.