Visakhapatnam: For the second day in a row, people in Vizag, Vizianagaram and Srikakulam districts of North Andrha faced hardship over the exchanging the demonetised Rs 500 and Rs 1,000 currency notes as over 60 per cent of the ATMs did not function as promised by the bankers. Most of the banks have dispensed the new Rs 2,000 currency notes to people, who wanted Rs 100 and Rs 50 denomination currency.
Long queues at banks were reported at many places in North Andhra on Saturday to exchange their old currency and to deposit the banned notes and the people, who don’t have bank accounts, have faced many difficulties to exchange their old currency in Vizag Agency and rural and tribal pockets of Vizianagaram and Srikakulam districts. The weekly markets in tribal pockets were seen less crowded due to shortage of lower denomination currency and tribal farmers were cheated by some traders by giving higher denomination currency notes for the forest products.
“We have waited for around two days for the ATM facility to withdraw Rs 2,000 denomination notes of Rs 100 and Rs 50 for necessities.” “But, it is very sad that majority of the ATMs in posh MVP Colony area were either shut or out of cash,” says N. Bhanumathi, a housewife. It seems that a majority of the ATMs in Vizag will be closed till Monday due to shortage of Rs 100 currency notes and technical glitches, said a bank officer, on condition of anonymity.
Though the bank officials are claiming that there is no shortage of Rs 100 currency notes, the staff of banks say there is huge shortage of the notes. “After hours of waiting in the long queues at a bank, I exchanged my old currency notes and got Rs 4,000 in cash in the form of two Rs 2,000 notes. But the Rs 2,000 notes are not useful for me as the businessmen did not accept the notes also citing lack of change for the currency”, says S. Arun Kumar, a student of Andhra University. Amidst the prevailing shortage of Rs 100 and Rs 50 notes, people would face difficulties in spending Rs 2,000 notes, he added.
Lack of short change affects liquor business:
Boozers were left distressed and they are struggling to purchase liquor with the demonetisation of Rs 500 and Rs 1,000 currency notes as the liquor traders in Vizag city on Saturday stopped accepting the old currency notes. The boozers have entered into heated arguments with the liquor businessmen for not accepting the old currency. Liquor sales dropped by approximately 30 per cent due to demonetisation besides some boozers are said to have given up the habit in the auspicious Kartika month.
Vizag city has 56 liquor shops and about 100 bar and restaurants where sales in a liquor shop range between Rs 1.5 lakh and Rs 3 lakh per day. In the 56 shops elsewhere in the city, sales were usually between Rs 1.2 lakh and Rs 2.5 lakh for past three days. “We have accepted Rs 500 and Rs 1,000 currency notes from November 9 to 11 considering the problems of the boozers. But, due to shortage of Rs 100 and Rs 50 notes, we are refusing to accept the old currency. We are also facing problems to exchange the old currency. Hence, the sales came down and it would affect our business in a couple of days,” says S. Srinivas, a liquor businessman in Vizag city.
A regular at a liquor shop P. Diwakar said that he developed the habit of consuming chilled beer during his college days and consumes a beer every afternoon. “But, I had a tough time paying ofr the beer on Saturday. I had just Rs 500 note and the liquor trader was not ready to accept it citing shortage of Rs 100 and lower currency,” he said.
