While Indians are facing their share of problems outside banks and ATMs post the demonetization, people in Venezuela have resorted to violent protest in various parts of the country since socialist government suddenly pulled the nation's largest banknote of 100 bolivar from circulation in the midst of a brutal economic crisis.

According to reports, three people have died in the southern mining town of Callao, but the government didn’t confirm the deaths.

Protestors blocked the roads while waving the now-worthless 100-bolivar bills and demanded that stores accept the cash which the stores now are refusing. Heavy resentment is seen among the people against President Nicolas Maduro in a string of towns and cities around Venezuela, witnesses told Reuters.

Reuters

According to various reports, dozens of shops were looted in various places post the demonetisation of 100 bolivars bills. Last weekend, Maduro gave Venezuelans three days to ditch the 100-bolivar bills, arguing that the measure was needed to combat mafias on the Colombia border despite warnings from some economists that it risked sparking chaos.

Much like India, opposition in Venezuela too lambasted the president for the move and deemed it an evidence of him destroying countries economy.

Reuters

But much like here, there too, the authorities have thwarted a referendum sought by the opposition against the leftist leader. That might enable him to complete a six-year term ending in early 2019, but increases the prospect of social unrest. New bills aka notes were supposed to reach to people by Thursday, but till now people haven’t got them while their old bills have become obsolete and nobody, not even petrol pumps are taking them.

The crisis has erupted when Christmas is around and people buy a lot on Christmas to gift to friends and relatives. But adding to the chaos, many cash machines were broken or empty. And large lines formed outside the central bank offices in Caracas and Maracaibo where the 100-bolivar bills could still be handed over and deposited for a few days more.

Reuters

"This is a mockery," told bus driver Richard Montilva to Reuters as he and several hundred others blocked a street outside a bank in the town of El Pinal in Tachira state near Colombia. First Justice lawmaker Angel Medina said large numbers of shops had been ransacked, destroyed and burned in El Callao, with three people killed and many injured. But the news couldn’t be confirmed.

Reuters

President Maduro, however, has condemned the violence and said new bills would come into circulation soon, appealed for the population's "comprehension", and urged Venezuelans to use electronic transactions where possible.

About 40 percent of Venezuelans do not have bank accounts.