India scraps old notes at the gas pumpNEW DELHI -- India said old notes would no longer be accepted at gas stations after Friday, fueling anger over the scrapping of high denomination bills that has caused an unprecedented cash crunch. Indians had been given until Dec. 15 to use the old bills at filling stations but the government rushed forward the deadline on Thursday evening, giving millions of commuters still using the old 500-rupee notes barely 24 hours to spend them. The move has triggered chaos with long lines forming outside banks as people try to deposit their old notes or withdraw new ones. Those with old notes are allowed to deposit them into their bank accounts until year-end but long bank lines had prompted many to use them at gas stations. "I was using my old notes up till now for filling petrol.

Source: The China Post December 02, 2016 16:02 UTC