Demonetisation hits vendors, shopkeepers compelled to accept banned notes

'When people come to us with old notes, we cannot say no as we need money to survive,' Small vendors

Demonetisation of Rs 500 and Rs 1000 notes by the government has hit shopkeepers in the Ima Keithel market, with rapidly dipping sales in the absence of "proper cash flow in the city".

Left with no option, the sellers are forced to accept old currency, and ask the customer either to purchase goods worth the entire sum of Rs 500/ Rs 1000, or refuse them, due to unavailability of change.

"We are not able to manage the change flow. But, when people come to us with old notes, we cannot say no as we need money to survive.

"When we cannot offer them change, we have to ask them to purchase goods for the entire amount. There is no other option for us," Bilasini, who sells clothes at the market, said.
 

The Ima market, also know as the Mother's Market or the Ladies Market, is run solely by the women of different communities. It is among the worst affected markets across the state.

According to 60-year-old Bilasini, the demonetisation drive has added to their woes caused by United Naga Council's indefinite economic blockade on the two National Highways, that has disrupted supply of commodities to the state.

"With the blockade, the rates of daily use commodities have gone up and with the government not allowing the use of the existing currency, it's impossible for us to earn a livelihood," she said.

Bilasini, who has been working at the Mother's Market for over three decades now, said her daily income has been reduced to less than half.

55-year-old vendor Chandini, who earns a living by selling kitchen tools like knives and vegetable peelers, said the items she sells are not something people buy daily and since demonetisation, she has hardly had any visitors at her shop.

"My daily earning was between Rs 400 and Rs 600 before the government announced the demonetisation of Rs 500 and Rs 1,000 notes. But, since then, I have earned next to nothing. People cannot afford to spend the cash they have on products which they do not purchase regularly.

"And if at all, someone does come with a Rs 500 or Rs 1000 note, I have to accept them, or what will I take back home for my family that depends on my earnings. But, now we are running out of money ourselves and are unable to provide customers the required cash change. It is making survival even more difficult," she said.

The city was also celebrating its annual Sangai Festival, which came to a close last week. Stall owners at the 10-day- long event that showcases traditional crafts of the state, and promotes it as a potential tourist destination, also bore the brunt of the cash crunch.