People Resort To Desperate Measures Even As Banks Set To Open On Thursday; Students And Elderly Feel The Pinch
Such was the desperation for cash in lower denominations after the Rs 500 and Rs 1,000 notes lost their legitimacy overnight that Prarthana Gehlot, a resident of Jangpura, had to break her piggy bank on Wednesday . “I had been putting coins in the piggy bank for three years. I had planned to buy something for my son with it, but this sudden crisis forced me to dip into the stash,“ said Gehlot.While many people expressed happiness at the government's decision to demonetise the high-value currency notes to rein in black money and counterfeit currency , most citizens, the business community in particular, spoke about their frustrations on Wednesday , about their immediate concerns and the problems they were facing in routine matters like buying groceries or paying for an autorickshaw.
Anita Sinha, a resident of East Park road in Karol Bagh, complained that she could not buy vegetables and fruits in the morning. “Whatever lower denomination cash we had at home we decided to keep it for daily commutes and emergency needs,“ said Sinha, adding that one could not forever make small purchases in the malls, where plastic cards are more readily accepted for payments.
Tavleen Singh, a student of SGTB Khalsa College, decided to wait for the ATMs to start dispensing money before she attended classes because she did not want hassles about paying auto drivers. But even the prospect of banks functioning from Thursday was no happy news for IP Ranjan, a senior citizen in Mukherjee Nagar.“The government's move is good but its suddenness has caused chaos,“ he said, explaining that the elderly do not go to ATM or banks for every cash need, preferring to keep money at home. The exasperated Ranjan found no one willing to accept his Rs 500 notes on Wednesday and the old man is not looking forward to the queues at banks and ATMs.
Shakuntala Dixit, an 85-year-old in old Delhi, had other anxieties. She had saved a wad of loose notes after years of selling old newspapers. “I was planning to invest the sum in a society scheme,“ the octogenarian said. “But now I might have to give it to my children or to the maids as salary because the currency they have is invalid.“ She hoped that the issue would be resolved soon and she got to invest her savings.
Adequately equipped for his needs, Divyanshu Shandilya, a civil services aspirant in Karol Bagh, should have been comfortably placed with his Rs 7,500. But he couldn't even buy lunch on Wednesday . “No one is accepting Rs 500 notes and I do not have no loose change on me,“ Shandilya said. He reported that petty traders seemed to have no idea of what was going on and the confusion had stalled their work.“However, demonetisation is a bold step that will curb not only the black money but also the massive amount of fake currency in circulation,“ he said.
Only the jewellery shops remained active during the day . Being the wedding season, people had no option but to buy jewellery even if the stores were charging much higher than normal. A security guard at Greater Kailash M Block market said with much glee, “Since morning, the shutters of this shop have been down, but there actually are buyers inside who are being served,“ he said conspiratorially . “They are paying extra in the big notes to buy their gold. It must be black money .“
It was only the thought of such black money being choked off that tempered the pain for most people facing the unusual inconvenience of having no currency notes to play with. As Manoj Gupta, a shopkeeper at Kailash Colony Market, pointed out, “We deal daily only in a few thousand rupees and all our transactions are accounted for. Those dealing in black money are the real sufferers.“
Anita Sinha, a resident of East Park road in Karol Bagh, complained that she could not buy vegetables and fruits in the morning. “Whatever lower denomination cash we had at home we decided to keep it for daily commutes and emergency needs,“ said Sinha, adding that one could not forever make small purchases in the malls, where plastic cards are more readily accepted for payments.
Tavleen Singh, a student of SGTB Khalsa College, decided to wait for the ATMs to start dispensing money before she attended classes because she did not want hassles about paying auto drivers. But even the prospect of banks functioning from Thursday was no happy news for IP Ranjan, a senior citizen in Mukherjee Nagar.“The government's move is good but its suddenness has caused chaos,“ he said, explaining that the elderly do not go to ATM or banks for every cash need, preferring to keep money at home. The exasperated Ranjan found no one willing to accept his Rs 500 notes on Wednesday and the old man is not looking forward to the queues at banks and ATMs.
Shakuntala Dixit, an 85-year-old in old Delhi, had other anxieties. She had saved a wad of loose notes after years of selling old newspapers. “I was planning to invest the sum in a society scheme,“ the octogenarian said. “But now I might have to give it to my children or to the maids as salary because the currency they have is invalid.“ She hoped that the issue would be resolved soon and she got to invest her savings.
Adequately equipped for his needs, Divyanshu Shandilya, a civil services aspirant in Karol Bagh, should have been comfortably placed with his Rs 7,500. But he couldn't even buy lunch on Wednesday . “No one is accepting Rs 500 notes and I do not have no loose change on me,“ Shandilya said. He reported that petty traders seemed to have no idea of what was going on and the confusion had stalled their work.“However, demonetisation is a bold step that will curb not only the black money but also the massive amount of fake currency in circulation,“ he said.
Only the jewellery shops remained active during the day . Being the wedding season, people had no option but to buy jewellery even if the stores were charging much higher than normal. A security guard at Greater Kailash M Block market said with much glee, “Since morning, the shutters of this shop have been down, but there actually are buyers inside who are being served,“ he said conspiratorially . “They are paying extra in the big notes to buy their gold. It must be black money .“
It was only the thought of such black money being choked off that tempered the pain for most people facing the unusual inconvenience of having no currency notes to play with. As Manoj Gupta, a shopkeeper at Kailash Colony Market, pointed out, “We deal daily only in a few thousand rupees and all our transactions are accounted for. Those dealing in black money are the real sufferers.“
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