Yes that’s s good decision.where it helps India in stopping huge black money which is in the form of liquid cash. By this act so much of money will be taken out, as there will not be other way to save.
PM Sri Narendra Midi announced that From Midnight Nov 8, 2016 today, Rs500 and Rs1000 notes are no longer legal tender By December 31st…it has to be given back to banks or post office. Daily 10,000 and weekly 20,000 to be only withdraw in banks.
ID card mandatory when depositing 500,1000 notes in banks before December.