The present scenario in India related to the currency withdrawal of 500 and 1000 rupee notes is like withdrawing expired goods and replacing them with new stock.
The initial panic was because of the totally unexpected suddenness it was announced. It was a shocker to people. People mistakenly thought that they have been made paupers by making the currency in hand invalid.
The panic and misunderstanding could have been cleared and things would have come back to near normal within a few days , had there been a proper replacement of value with smaller denominations.
What happened was, equivalent value was not replaced in full. Whatever was replaced was in still higher denomination of 2000 rupee notes. That made some bottlenecks and rendered the money at hand impossible for immediate use in many contexts.
This situation will be there unless currency replacement is made for the full amount of OHD notes received back in the banking system. (Or at least to a major extent). Once that is reached, I expect things will be back to their normal.
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease