News Karnataka
Tuesday, February 07 2023

Demonetisation effect: Confusion confounded due to rush and ignorance

Photo Credit :

Hubballi/Dharwad: The demonetisation effect continued to impact the lives of people in cities and rural areas across north Karnataka on Thursday too.

Though the banks were open, long queues were seen near every branch anywhere and the bank officials took police help to control the customers.

Shortage of change and closed ATMs added to the woes of people on the second day too, after the prime minister announced the withdrawal of high denomination notes. As soon as the news spread people rushed to ATMs to deposit high denomination currency and to withdraw Rs. 100 notes, but in vain. Post-midnight the ATMs too closed adding to their woes.

Long queues were seen in front of almost all banks and cooperative societies on Thursday morning. As the transaction began the bank authorities were forced to take police help.

People were seen using Rs.500 and Rs.1000 notes even for smaller purchases to get change.

Most of the provision stores, hotels issued coupons to the customers in place of change. Though medical shops and petrol pumps accepted Rs. 500 and Rs.1000, there too problem for change arose leading to long queues before pumps and medical shops.

The business was dull in Central Market in Dharwad and Janata bazaar in Hubballi. The very busy Subhash Road wore a deserted look; some of the small shops were seen closed without catering to people’s demand for change towards smaller purchases.

Some of the passengers who boarded the buses from nearby villages to Dharwad have left their change with the known bus conductors asking them to either return some days later or send their amount through “money order”.

Despite clarification from the Center on the ways to encash currency notes of Rs. 500 and Rs. 1000 denomination, many people appeared confused about the matter and got into petty quarrels with traders. Meanwhile, serpentine queues were seen in front of petrol stations in the districts of north and central Karnataka.

The most affected were the small businessmen, street vendors and the common man, many of whom were still not sure about what to do with the high-denomination notes in hand. Those who had heard about the demonetisation of Rs. 500 and Rs. 1000 notes wanted to dispose them of as early as possible.

Demonetisation effect: Confusion confounded due to rush and ignorance

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Rohan City Corp
Rohan City Corp

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp