Vagatorsunset

India abolishes larger banknotes in fight against graft, 'black money' | Reuters


So with 500 and 1,000 rupee notes vanishing from circulation at midnight of which I have £100.00 worth in 500 and 1,000's

Anyone know if Dabolim Airport has a bank open 24 hours for travellers cheque/cash change to 100 note Rupees ?

prestonjohn

It said in the papers that it was done because of terrorism and forgeries.What ever the reason its pretty drastic to do it without any warning. Do you have to change 1000 & 500s in the bank and provide identity etc ? Fill in a form ?

Bipat

Main problems will be for those without bank accounts or recently paid in cash for something.
Also for those who have saved cash in safes or mattresses!
Possibly a case will be made in Supreme Court for more time.


500 and 1000 rupee notes: Rs 500 and Rs 1,000 notes banned: Why you don't need to panic - Times of India

prestonjohn

It will be chaos for millions of people as India is largely a cash economy unlike ours which is largely plastic now.I have a friend who has at least 60 Lakh in cash in a safe deposit locker from selling his house in India and he is in the UK now for medical treatment ! I think he will need treatment for his heart now....

Vagatorsunset

Not ideal by any means. Anyone know if there is bureau de change at Dabolim 24 hours?

Thanks

prestonjohn

Yes there is one.

Vagatorsunset

Thanks that is handy John, was not much info on the Dabolim website about services on offer. We only have a few 1,000's and 500's no 100's etc for a taxi. You know I look forwards to coming back to Goa but I do wonder what to expect.

I do wonder if you need to be even more careful crime wise if there are loads of disgruntled corrupt delinquents or muggers going around cause they lost their large denomination cash stash now.