Demonetization Of Rs. 2000 Notes A Problem For Big Money Hoarders

Hyderabad, May 22 (Maxim News): The Begum Bazar Kirana Marchant’s Association member Arun Kumar said that the traders anticipate impact on the demonetization of Rs. 2000 currency note. He said, “I have a shop and I am ready to take the note, but I am not seeing the big notes. I have seen the big note in single digits during the last one month and the association has also asked the members to accept the notes,” said Arun Kumar.

Narasimha, a workshop owner, said that he had seven notes and wanted to dispose of them in the cash deposit machines. Problem for us is not big, it may be a problem for big money hoarders and some politicians and not for common people like me, he said.

However, some of the traders are not willing to take the risk of taking Rs. 2,000 notes, one of the customer at Malakpet who went to purchase groceries at a mall near Malakpet said that the cashier refused to take the Rs. 2,000 note, he had to pay through the UPI mode. A cashier at a mall near Punjagutta said that some of the customers were bringing Rs. 2,000 notes for goods worth Rs. 200 and this was resulting in shortage of smaller denominations. he said that initially they were taking the notes but with more customers coming up, they were asked to bring change or purchase more items so that there will be no problem in giving change. At petrol pumps, they are insisting that the consumers buy at least fuel worth Rs. 1,000 if they bring Rs. 2,000 notes. some petrol bunks even displayed boards to the effect,

When asked by our reporting tem, the shop owners said that there were not many who brought Rs. 2,000 notes as they have almost been out of circulation from the pockets of the common man for quite some time. (Maxim News)

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