Just a few hours back, Indian government demonetised the existing Rs 500 and Rs 1000 currency. Reserve Bank of India, will now give a 50 day window for people to get their money exchanged with lesser denominations or go with the brand new Rs 500 and Rs 2000 bills. Since the initial cap of such transaction is set to Rs 4000 per day each person, those hoarding the black money will have tough time transacting their stockpile.
For us poor people, all this means nothing more than a slight hassle. For instance, the three Rs 500 notes in my wallet cannot be used tomorrow. Therefore, I will have to go to the crowded ATMs and withdraw money in the denomination of 100. Not a big deal for an individual. However, it is going to affect large businesses, and Flipkart knows it well. The Indian eCommerce giant has already deactivated cash-on-delivery option on products that cost over Rs 2000.
Update: Amazon too has disabled cash-on-delivery option on expensive products.