Not everyone is shunning denominations of Rs. 500 and Rs. 1000, there are many in the city who are taking advantage of the ban to boost their business. From eateries to health clubs to events, prospective clients were contacted on Wednesday on social media platforms to buy passes or take membership by paying with the phased-out Rs. 500 or Rs. 1000 notes in their possession.
For the upcoming Sunburn event to be held on November 12, Saturday, where international artistes will take the stage, a ticketing volunteer grabbed attention with his message which went viral on WhatsApp.
“It was a marketing strategy to reach out to the people,” said the volunteer and a member of the event management crew who did not wish to be quoted. “There was panic among youngsters on how they can pay for the passes. We wanted to convey that we are accepting cash including Rs. 500 and Rs. 1000 notes to clear the confusion. After we sent out the message, we did get enquiries from those who wanted to buy tickets offline by paying cash.”
A gym in Jubilee Hills too sent a similar message to its members. The management of Chizel Gym accepted demonetised notes throughout Wednesday for the renewal of the membership of its customers.
A go-to place for those requiring loose change, the agents outside the Reserve Bank of India (RBI) in Saifabad did brisk business on Wednesday. Instead of coins, the traders were equipped with bundles of Rs. 100 notes. The agents were seen exchanging Rs. 400 of Rs. 100 denominations in exchange for Rs 500 note.
“I require change otherwise my business will suffer,” said T. Venkatesh, who runs a bakery in Abids. “Though the commission is high I do not have an option as I have to oblige my customers and also buy groceries.”
