New Delhi: Prime Minister Narendra Modi’s demonetisation move has sent more than half of the country’s population scuttling towards the bank day in and day out. While many successfully changed their Rs 500 and Rs 1000 notes at the bank, many still felt that they were stuck in the same bog despite getting the new Rs 2000 note.
According to the Economic Times, people who have received the new pink Rs 2000 note from the bank are faced with the arduous task of getting it changed into looser currencies. Shopkeepers, especially local, are reluctant about taking Rs 2000 notes as they do not have the adequate change for the new currency.
Since banks have not doled out Rs 500 notes, the only choice shopkeepers are left with is to either sell products equal to the value of the currency or not take the currency at all.
For example, a small shop which sells groceries will not be willing to give change for Rs 2000 if the customer purchases product worth Rs 200 or 300. On the other hand, if the customer purchases a week worth of products for Rs 1500 or 1700, the shopkeeper is likely then to the take the currency.
For small workers, such as a rickshaw driver or a housemaid, this demonetisation presents itself as a relentless inconvenience.