Year after demonetisation: Cash remains king in Goa ahead of tourist season

If sales do not pick up, many may have to cut down on staff, as many restaurants did last year

Raju Lakhani, owner of Moonstar Bar & Restaurant on Anjuna beach in North Goa, remembers how business was so bad due to demonetisation last season that he had to lay off staff. As the current tourist season begins, he has reopened his restaurant and is waiting to see whether tourists will arrive in the usual numbers. But one thing has not changed–his restaurant still runs only on cash.

On November 9, 2016, demonetisation had removed 86% of currency (by value) from the economy with the aim of weeding out black money and coercing a transition