Bengaluru: Lavish New Year Parties for 2017 in city clubs have been struck with the cash crunch post Demonetization. The scarcer bookings have brought down the celebration scale by a higher margin.
The New Year ring of Colonial-era Bowring institute has come down to 6-7 lakhs from 25-30 lakhs comparing to December 31 2016. The doors of the host have opened just for 700 with from a whopping 2000 welcoming the revelers.
Attributing to the cash crunch, S Rajnikanth, member-in-charge, entertainment subcommittee, Bowring Institute, said, “The budget for this year is just 10percent compared to the previous year.” With a fewer bookings, Cosmopolitan Club at Jayanagar has felt the cash crunch too. With a positive belief a member of the club said, “The bookings would go up in the next two days”.
Regular club Hopperrs on this New Year seem to stay home to cut down the expenses. “The change of plans is due to the cash shortage” said Umesh S, who visits Karnataka State Lawn Tennis Association (KSLTA) club every New Year Eve.
Digital payment on the other hand is accepted by some clubs to beat the demonetization effect. Another Colonial club, Bangalore club is has accepted the online payments and will party the same way as the previous year said an official.
Century Club representative highlighted, “we are unaffected bythe cash crunch as we do not host a gand scale celebbrations”
