Demonetizing of high denomination notes caused trepidation across India. Especially, those people who have gone to ATMs to draw the money were shocked to see 'out of service' boards at every ATM. Even if any ATM gets worked, its hardly runs for 30 minutes or one hour.
It is already known that all ATMs of India haven't got configured with the new software that suits to Rs.2000 denominations. Officials of the banks have informed that it might take one or two months to update new technology in ATMs which suit to Rs.500 and Rs.2000 notes. All in all, people are facing severe crisis with lack of sufficient money with them.
The managers of some of the banks surprised how such a hasty decision taken by the PM without consulting banking sectors. "It appears something like the decision of an individual to create sensation among the people," says the manager of a bank.