Let me at the On Set compliment the Hon PM for taking this bold and bitter step of ” Demonetising ” the Rs 500 and Rs 1000 Currency notesparticularly for keeping it a very well guarded secret right till the end , though it certainly is a step well thought out right from the beginning of Jan Dhan and Voluntary disclosure schemes.
But it is unfortunate that the scheme has spread a panic button in the minds of many honest and common citizens .

I see the following are the main sources of this wrong signal

1… People are finding it hard to understand that the Notes are NOT FULLY DEMONETIZED till 31/03/2017 . Their circulation is restricted up to a point of time, after which only the same notes will be completely demonetized.

Up to 30/12/2016, one can Deposit the old notes in their Bank Accounts and the Banks WILL ACCEPT the same . Routine collections of business e.g. by the grocery store keeper, salaries and wages , Cash Balances of one’s business, sundry balances at your home etc can be deposited easily . Only change is that the banks will give you the new notes or lesser denomination notes in exchange . Even after 30/12/2016 , upto 31/03/2017, one will be able to deposit these notes with RBI, though with proper explanations about the delay and the source of these notes. A clarity on these aspects is necessary . I was pained to see a chowkidar, refusing to accept his well earned salary since he was offered the same in Rs 500 denomination even when he had a bank account . The Milk man, the vegetable sellers etc all common traders are refusing to accept the OLD NOTES, since they believe that the same are fully demonetized.