For most Indians, this pay day is going to be unlike any other. The reason being the cash crunch due to the demonetisation of Rs 500 and Rs 1,000 notes.

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"You have 50 days to return the old notes of Rs 500 and Rs 1,000 to your respective bank from 10 November 2016 to 30 December 2016. The banks, however, will have a cap on how much cash can be withdrawn — Rs 10,000 daily and Rs 20,000 weekly."

"And no one should blame me if I take tough decisions after the 30th. This money belongs to the country’s poor. No one has the right to loot this. This is my commitment. I am working with full force and will continue the effort," he had said.

Apparently, Prime Minister Narendra Modi had given a fair warning to all the black money hoarders in this interview with CNN-News18 in September this year. Replying to a question on if he intended to carry forward his tough line on curbing black money, Modi had urged those with undeclared wealth to take advantage of the disclosure scheme before the deadline of September 30 and return to into the mainstream.

A lawyer by profession, Kamboj said that he understands the legal consequences of doing any such thing. "I know I can land up in big trouble if I do something so foolish. What Kejriwal is doing is nothing more than dirty politics. He will see what will happen to him in Punjab."

Rubbishing Kejriwal's claims, Kejriwal said: “I had only written that new notes would soon be introduced. But nowhere I had talked about or even mentioned banning of the old notes.”

Delhi CM Arvind Kejriwal on Saturday alleged that BJP had informed its 'friends' beforehand about its decision to demonetise Rs 500 and Rs 1,000 currency notes, to help them fix their black money.

The step is being taken after it was observed that same people have been withdrawing money, again and again, misusing the facility and not giving a chance to others to exchange their money. ​

"Government should allow old Rs 500 notes to remain in circulation along with the new notes. Also, Rs 100/50/10 notes must be made easily available. Rs 1,000 notes may be withdrawn when circulation improves by 30 December, or at your discretion. No need for anymore faltu, action-less announcements. Sometimes blunders lead to more more blunders," says the West Bengal Chief Minister.

In a series of tweets on Friday, Mamata Banerjee said that there are ways that the government can restore normalcy and help people.

"Such tax evasion activities can be made subject to income tax and penalty," ANI reported. The ministry added that thos who allow their accounts to be misused will be prosecuted."However, genuine people having their own household savings in cash and depositing the same will not be questioned," the ministry was quoted as saying by ANI.

Announcing that small deposits made in banks of artisans, workers, housewives will not be questioned by Income Tax Department, the finance ministry said that there are reports that a few people were "using other's accounts to convert their black money into new denomination notes."

The Opposition parties are not wrong — this could have been planned better and the government is not giving us all the facts. The truth is the government did have a plan. Not for recalibration — for which it has come under severe attack — but for the preemptive calibration of ATMs. If this plan had run its course, it could have considerably smoothened the currency exchange at ATMs. But the plan ground to a halt even before it took off. But more on that later.

An entire population of 1.25 billion is living in misery, craving something they already have: A strange contradiction of shortage in abundance. The only question that everyone is asking is: Did Prime Minister Narendra Modi send a country into war against black money without planning?

"What is the difficulty? " the bench asked Rohatgi. The AG explained the situation by stating that after printing, the currency has to be moved to thousands of centres across the country and ATMs have to be re-calibrated. "There is no shortage of funds," he said.

At the outset, the bench questioned the relief measures undertaken by the Centre by saying, "Last time you said there will be relief for people in the coming days but you have squeezed the exchange limit to Rs 2,000 only."

"It's a political attempt in the court. I have seen your (Sibal's) press conference also. You are not appearing for a political party, but for an advocate. You are turning the apex court into a political platform," Rohatgi said.

The Attorney General (AG) Mukul Rohatgi in his response, said there is no dispute, but the queues are getting shorter and even suggested that the Chief Justice of India can go out during lunch and himself look at the queue. "Kindly go in the lunch time," the AG told the bench and took objection to senior advocate Kapil Sibal, appearing for a private party, for allegedly exaggerating the situation.

"We have also come to know that corruption through new notes has already started. Such reports are surfacing in newspapers and especially on the social media," he said, claiming the goal of unearthing black money and weeding out fake currency notes will not be achieved.

On the Centre's stand that demonetisation will check corruption, Akhilesh said cases of graft involving new currency notes are already making news in some parts of the country.

Talking to reporters in Lucknow on Friday after presiding over a Cabinet meeting, Akhilesh Yadav said, "The meeting was of the opinion that farmers should get relaxation in use of Rs 500 and Rs 1,000 notes...cooperative banks to which farmers are directly linked should get relaxation as money is not promptly reaching bank branches."

SC made the remarks as Attorney General (AG) Mukul Rohatgi submitted that any matter relating to challenge to the demonetisation issue be heard by the apex court only.

"Some measures are required. See the kind of problems people are facing. People have to go to the high court. If we shut them from going to the high court, how can we know the magnitude of the problem. People going to different courts indicates the magnitude of the problem," the bench said.

"It is a serious issue which requires consideration," a bench comprising Chief Justice T S Thakur and Justice A R Dave said, while asking the parties to be ready with data and other issues in writing. The apex court also refused Centre's request to put on hold petitions pending in various high courts challenging the decision to demonetise.

Coming down heavily on the Narendra Modi government for not taking the issue seriously, the Supreme Court on Friday questioned the move to reduce the exchange limit of old notes from Rs 4,500 to Rs 2,000. The apex court added that the situation was serious and there are possibilities of riots breaking out.

"We are not against demonetisation. We are against the hardships being faced by poor people due to mismanagement in implementing this scheme," Ravat said, when he was detained and taken away by police.

In Vadodara, at least 100 Congress workers were detained from different parts for trying to block the roads. While two Congress workers were detained for setting fire to tyres on Ahmedabad-Vadodara highway on the city outskirts, around 100 have been detained for blocking an internal city road at Dandiya Bazar area.

Slamming the Centre over faulty implementation of the demonetisation drive, Mayawati said that the government has unleashed an Economic Emergency on the nation and the party does not care how people of the nation are suffering.

He then said that India trusts its citizens who will make the country emerge successful after "this test of fire".

"But I see your support. Despite so many attempts to dissuade you, you have understood this move for the welfare of this nation," said the Prime Minister. "The entire world is watching this move. Every economist is analysing this move. The world is watching whether 1.25 crore Indians, despite difficulties, will achieve success."

"But for 70 years, we have been tolerating the disease of corruption and black money. The cure to that disease cannot be simple," he said.

"When I had taken this decision, I had said that this is full of difficulties. And the implementation of this decision was also bound to be difficult. I knew about the kind of difficulties people would have to face," Modi said. "I knew that it will definitely take 50 days to come out of the effect [of demonetisation]," he added.

"A lot of people have asked me to talk more about the currency ban," said the Prime Minister, as he began talking about demonetisation.

Prime Minister Narendra Modi on Sunday talked about the demonetisation of Rs 500 and Rs 1,000 notes on the radio programme 'Mann Ki Baat' and appealed to the people of India to help him create a "less-cash society".

Sources have told CNN-News18 that the central government has stepped up the printing of the new Rs 500 notes. The news channel also reported that the shortage in Rs 500 notes will be over by the end of December.

Modi said, "The government's decision has several gains for farmers, traders, labourers, who are the economic backbone of our nation. I always said that the government's measure will bring a degree of inconvenience but this short term pain will pave way for long term gains. No longer will the progress and prosperity of rural India be curtailed by corruption and black money. Our villages must get their due. We also have a historic opportunity to embrace increased cashless payments and integrate latest technology in economic transactions."

In a series of tweets, Prime Minister Narendra Modi said that the government never denied that the demonetisation drive will not be inconvenient, but "this short term pain will pave way for long term gains."

Leading members of Opposition took to social media to speak on demonetisation. 8 December marks one month since the Modi government scrapped high-denomination notes and introduced the new Rs 500 and Rs 2,000 notes.

The Bharatiya Janata Party has announced that it will hold a party meet at 9.30 am on Thursday. According to CNN-News18, the party meet will discuss demonetisation and will be broadcast live. Prime Minister Narendra Modi will be addressing the nation as well, the news channel said.

'It's a pity that this opposition party, who fought against the Congres both inside the Congress and outside the Congress are ready to work with Congress. Trinamool Congress, CPI (M) are with Congress. Even DMK who had taken talaq from Congress are rallying behind it. They don't even know what their leader is going to talk about. The congress regime was filled with scams. They will have to explain it to the people," he added.

'It's ironic to see that government is fighting corruption, and the opposition is opposing it. Many people are shaken because vested interests are shaken. They are trying to create panic in the public. And therefore, they are trying to tarnish Prime Minster's image,' Venkaiah Naidu said.

Unlike Gandhi, who in a letter dated 24 August, 1974, to all chief ministers, sought ‘selective action’ against ‘bigger people’ that could be publicised to counter the perception in the public mind and in Parliament, Modi and his officers were well prepared in advance to scrutinise the shades of unaccounted stash in the country, even if that meant severe criticism of his government.

Modi is not Indira Gandhi and 2016 is not 1974 when TA Pai, the then Union Minister for heavy industry told Gandhi: "Currency has no complexion and it is neither white nor black." (Declassified black money files of prime minister’s office, no 37 (465)/74 PMS).

When Prime Minister Narendra Modi, in a televised address on 8 November, told the nation that the existing Rs 500 and 1,000 notes can no longer be used for transactions and they are now mere pieces of papers, he very well knew that a huge number of zero-balance accounts were going to witness sudden activity from the very next morning.

This means that these notes will not be acceptable for transactions from midnight onwards. The 500 and 1,000 rupee notes hoarded by anti-national and anti-social elements will become just worthless pieces of paper.

To break the grip of corruption and black money, we have decided that the 500 rupee and 1,000 rupee currency notes presently in use will no longer be legal tender from midnight tonight, that is 8th November 2016.

As (Narendra) Modi gets ready to address the nation on 31 December in a stock-taking speech, sober watchers of the game may find no nail-biting finish or clear winner. We might need to use something resembling the Duckworth-Lewis method that cricket scorers use when rains or disruptions mar a match.

The government is also planning to come out with an Ordinance making possession of old Rs 500/1,000 notes beyond a specified limit for numismatic purposes illegal and punishable.

People, however, will still have time to exchange the currency notes at designated RBI counters till 31 March after giving valid reasons for not depositing defunct notes in their accounts by 30 December.

The 50-day deadline to deposit the old Rs 500/1,000 notes in banks comes to an end today, but the cash crunch and queues before ATMs are likely to continue for some more time as currency printing presses have failed to meet the huge demand for new bills.

Prime Minister Narendra Modi is expected to address the nation on Saturday after his self-imposed deadline of 50-days for the situation to return to normal ends. While some people are hoping for an extension in the deadline, the government maintained it had no plans to do so.

The deadline to deposit old Rs 500 and Rs 1,000 notes in banks ends today. From next week onward, those still holding the scrapped currency can deposit it only with the Reserve Bank of India till 31 March, 2017. After 31 March, holding demonetised notes would be illegal and could invite hefty fines and even jail, according to an ordinance passed by the Union Cabinet on Wednesday.

Post #DeMonetisation Govt. to roll out massive campaign. PM's address to the nation on Dec 31st will be beginning of this campaign: Sources

Meanwhile, the RBI's image seems to have been dented significantly during the period. Post the announcement, the action mostly happened in Delhi and the central bank was relegated to the background. Moreover, the frequent rule changes, mostly dictated by the political bosses in Delhi, unfairly affected the central bank's image.

The man who is complaining the most is the one who is affected and that is not the ‘common man’, believes Bijoor. He places Modi’s popularity on a ratio of 80:20 with 80 percent having welcomed the bold move of the PM.

The common man is in the mood to forgive the prime minister as he realises that demonetisation is a big task that irritants like more than 60 policy flip-flops after the announcement of the scheme can be ‘tolerated’, says Harish Bijoor, chief executive officer of brand and business strategy firm Harish Bijoor Consults Inc.

The brand Modi might have received a good boost after the demonetisation drive, however, the brand RBI, the monetary authority in charge of the Indian currency, may have taken a huge drubbing, brand experts told Firstpost's Sulekha Nair .

The cash crunch in cities seems to be easing. Just for a lark i went to 5-10 different ATMs on diff days and all yielded cash Queues shorter

Specified bank notes (SBNs) cannot form part of banks' cash balances from the close of business as on 31 December, 2016 to deposit the same in any Issue Office of Reserve Bank or a currency chest on 31 December, 2016 itself, RBI said.

For most Indians, the salary day this month is going to be unlike any other. The reason being the unabated cash crunch due to the demonetisation of Rs 500 and Rs 1,000 notes announced on 8 November.

After the demonetisation, which ceased the legal tender status of the notes and also introduced new Rs 2,000 and Rs 500 notes, there has been severe shortage of smaller denomination notes that has resulted in long queues at banks and ATMs. Banks and the RBI have also rationed the cash supply in order to meet the demand. Customers can withdraw only Rs 24,000 a week from a bank and Rs 2,500 from an ATM. However, there are further restrictions to banks are not possessing enough cash. For instance, as there are no Rs 500 notes available yet, you can withdraw only Rs 2000 from an ATM. Also it is difficult to get change for Rs 2,000 note.

With the salary withdrawal, which is a regular occurrence at the beginning of every month, expected to start any time now, there are concerns that the situation is going to worsen. So how do you deal with a month on a tight leash unable to access your own money freely?

First things first. This is a month where you won't find it easy making payments or getting people to accept online payments. So factor that difficulty in. But this would only be a beginner's problem. A month later, things should be better. Or so is the expectation.

Anil Rego, CEO & Founder, Right Horizons; and Pankaj Mathpal, Managing Director, Optima Money Manager Pvt Ltd suggest ways to deal with cash crunch better:

Here we go:

Making cashless transactions: Use a combination of mobile wallets, debit and credit cards to make your life easier. Conserve cash as much as possible. That means prune your expenses. Go eating out much less and entertaining folks even lesser. Everyone will understand. Cash crunch is universal in the country. Use cards and mobile wallets wherever possible. If you are able to do that more, most of your expenses will come down considerably. And also your stress levels.

Pay groceries by card: If your kiranawallah does not accept card payments, too bad for him. Go to the supermarket or any other store that does. Your local grocer will realise that there if he or she doesn't go cashless it will result in huge business loss. Next month, if not now, he will be prepared for cashless transactions.

Help your household help: You could help your household help by buying provisions, etc so that she can tide over the month without cash. Most of them have bank accounts which is rarely used and you can help them by showing them how to access cash by using card for payments. Pay by cheque or electronic transfer in the account of your domestic help. If your household help does not have a bank account, assist her in opening a zero-balance account under Jan Dhan Yojana. That will be a permanent solution.

Bank transactions prove the credit worthiness of a person and it will help the domestic helps in raising loan, if they need anytime in future. If you tell this to them they will accept cheque payment easily. Most of the domestic helps use smart phone nowadays. Educate them on the benefits of e-wallet and help them to download the app on their mobile. You can easily transfer money into the e-wallets. You can also pay through Unified Payment Interface (UPI) in the account of your domestic help. There is no registration needed. You can use UPI for utility bills too.

Sign up for ECS facility: Sign up for electronic clearing system and it will deduct the bill amounts directly from your account. You could pay your telephone bills through ECS. You need to give an authorisation to automatically debit the bills. Newspaper hawkers shouldn't be a problem either as they accept payment through cheque or electronic transfer in their accounts as they further pay to the newspaper agency. Every newspaper hawker is expected to have a bank account. If they don't accept cheques, that means their intention is to evade tax on their income.

Use mobile wallets for travel expenses: Use Paytm or any mobile wallet while using autorickshaws. Most of them accept it now. Using taxi aggregators like Ola and Uber should not be an issue. They accept online transactions. You could also download their apps to make payments easier.

Do not go to bank (unless it is absolutely necessary): You could try and avoid going to the bank as much as possible to withdraw cash. If you can do digital transfers, do that sit tight. Let those who is dire need of cash go to the bank. This will reduce the crowd at the banks and ATMs and make their life easier.

You can easily tide over a month with as little as Rs 26,000 as cash in hand if you use online modes of payments as mentioned above. You will have to pay for that cup of tea or coffee if it is a small outlet that does not accept online mode of payment. More importantly, going cashless will leave a digital trail of your expenses and you can keep a tab on your monthly budget and splurge or prune accordingly your wants and needs.