There have been chaotic scenes outside banks in India, two days after 500 ($7) and 1,000 rupee notes were withdrawn as part of anti-corruption measures.

Some banks ran out of cash. At others police were called in to manage queues of anxious customers hoping to change their savings for legal tender.
The surprise government move is aimed at tackling corruption and tax evasion.

But many low-income Indians, traders and ordinary savers who rely on the cash economy have been badly hit.
Banks were shut on Wednesday to allow them enough time to stock new notes following Tuesday night’s announcement. There are also limits on cash withdrawals from ATMs.

The two notes accounted for about 85% of the cash in circulation.

Read the Full Article: Source – BBC News
Time For Truth: (BBC News) – India rupees: Chaos at banks after 'black money' ban

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