Aman holds a charred facsimile of the discontinued Indian 500 rupee banknote after a protest by a traders’ association outside the Reserve Bank of India in Kolkata this week. Protesters were demanding adequate arrangements to exchange discontinued banknotes.
On Friday, Indian police used water cannons to disperse Youth Congress activists as they tried to cross a police barricade during a protest against the change of rupee notes in New Delhi. Indian bank officials started leaving an ink mark on the fingers of people who had exchanged their discontinued rupee notes for new ones.
Indian Prime Minister Narendra Modi announced the elimination of the 500 and 1 000 rupee bills for the purpose of fighting “black money” (hidden assets) and corruption.
Storekeepers complained about dwindling sales because many citizens lack the cash to buy the most basic products, as queues at ATMs and banks get longer.