TAMIL NADU

Business at santhais affected

The functioning of all the bank branches, the head post offices and post offices in no way lessened the sufferings of people in Salem and Namakkal district.

Serpentine queues at the bank branches and post offices were witnessed throughout the day and there was scramble at every bank branch.

All the ATMs remained closed for yet another day. The functioning of ATMs alone will ease the situation to some extent, the local people observed and urged the Centre and the Reserve Bank of India to re-open the ATMs, with lower denomination currency without delay.

The holders of the post office savings bank accounts in the city got some respite with the functioning of the ATM at the head post office in Suramangalam. The post office ATM did not entertain the ATM cards of commercial banks.

The shortage of lower denomination currency has affected the weekly santhais in the district on Saturday.

The markets at Omalur and Konganapuram are major ones of the western region, which meet on Saturdays. The farmers from Salem, western districts and also from the neighbouring States bring goats and sheep to these santhais. Though the farmers had brought the livestock as usual to these markets, they could not sell them as the traders possessed only the scrapped higher denomination currency.

The Omalur weekly santhai, which used to witness a business to the tune of Rs. 50 lakh every week, registered a very dull business. In the Konganapuram market too, the turn up of traders was very low compared to previous weeks.

Elampillai town and the surrounding villages of Perumagoundampatti, Idanganasalai, K. K. Nagar, Naduvaneri and Sidharkoil accounted for a large number of power loom workers. The workers are paid wages every Friday. As the power loom unit owners gave the scrapped notes as wages on Friday, the workers could not exchange them in the local bank branches as they ran short of money. Due to this, the Elampillai weekly santhai too wore a deserted look.

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