Demonetisation: Money everywhere, but no takers

Poor people are the worst sufferers in the National Capital as the meagre life savings they were all in Rs. 500 denominations.

November 09, 2016 03:20 pm | Updated December 02, 2016 02:26 pm IST - New Delhi

A street vendor counting Rs. 500 notes, in New Delhi on Wednesday. Vendors are refusing to accept higher denomination currency after government declared these notes invalid. Photo: Shiv Kumar Pushpakar

A street vendor counting Rs. 500 notes, in New Delhi on Wednesday. Vendors are refusing to accept higher denomination currency after government declared these notes invalid. Photo: Shiv Kumar Pushpakar

A day after Prime Minister Narendra Modi announced the scrapping of Rs 500 and Rs 1,000 notes, chaos reigned in the national capital as people struggled to gather change.

The worst hit were the poorer lot as they were left with no money even to go about their daily routine. Many were even caught unaware of the finer details of the new rules as they approached anyone and everyone to seek instructions on what to do next.

In West Delhi's Uttam Nagar, Amar Singh, a tempo cleaner, had no breakfast on Wednesday. "I have Rs 9,000 in big notes, but just Rs 7 in loose change. I have just had tea, no breakfast. No one is willing to help me," he said.

Tara Devi, a labourer's wife in nearby Dabri, said she was illiterate and did not know what to do with her savings of Rs 3,000.

Her neighbour, Mahesh, borrowed Rs 200 from his employer to feed his family. "I have already spent Rs 120. What will I do when my stock ends," he questioned.

Ghanshyam, a labourer in Janakpuri, said he has no identity proof or bank account. He was clueless about what he had to do with his Rs 2,000 life savings.

Shopkeepers said they were losing out on business. Yasin, a tomato seller in Okhla Mandi said no one was willing to offer him Rs 100 notes. "My tomatoes are perishable items. I will be ruined," he said.

In Vikaspuri, H.R. Islam, a banana seller, said he had no customers despite being in business for two hours on Wednesday. "Customers are visiting me with the only hope of getting change for their big currencies. I am not in a position to hel them," he said.

In Okhla wholesale market, a truck meant for supplies to the army mess, was stranded as no one was willing to accept the discarded notes.

At the city's metro stations, chaos reigned in the morning hours as commuters found themselves faced with notices announcing that Rs 500 and 1000 notes wod not be accepted for recharge.

However, the DMRC later came up with an announcement that these notes would be accepted at all metro stations till midnight of November 11.

Several shopkeepers, meanwhile, refused to oblige even their regular customers carrying the banned notes. "If someone is willing to purchase vegetable worth Rs 450, I will accept their Rs 500 notes," said Balram, a vegetable vendor.

At Mother Dairy outlets, meanwhile, shopkeepers were not very obliging with their customers even though government rule requires them to accept the currency notes.

Some of these shopkeepers were willing to accept Rs 500 and 1000 notes only if customers purchased for the worth of the entire currency notes or if they bought quickly-perishable items.

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