The large denomination notes like 500's and 1000's are now no longer accepted (though due to the huge crisis it will be accepted for at least 50 days or so) but most stores/people no longer accept it. There is a new 2000 ruppee note, which is made on a cheaper paper (low quality) compared to the old notes and already people are counterfeiting it.
There is a huge push to go cashless by the PM here....and this was implemented all in the name of combating "black money"/illegal transactions etc... but in reality the US banksters particularly goldman sachs has a lot of investment/interest in indian banking/economy interests...and our finance minister was a former goldman sachs guy so this is probably a beta test like what they did in cyprus and greece with seeing how people react to currency shocks....and knowing the pm he probably got bribed to do this on the SAME EXACT DAY as the US ELECTION at midnight! Coincidence? i think not.....also it was predicted on the 2015 economist cover showing spider man bribing modi.....
The banks here have limited people to weekly withdrawals of around 24000 ruppees that's about $350 USD per week.....which if you're in an emergency/huge expense like a wedding you're screwed bad due to the limit.....some rioting going on in delhi over it along with outrage in the parliaments here....
These videos from TDV explain better...
[video=youtube;qjf3Sbn2__0]https://www.youtube.com/watch?v=qjf3Sbn2__0[/video]
