Demonitisation of Rs 1,000 and Rs 500 currency notes elicited knee jerk response from a proportion of the public flocking to petrol and diesel outlets to use these notes. Such was the frantic rush of vehicle users that long queues of four-wheelers could be seen in the fuel stations in Dehradun. In the market area of the city, the Paltan Bazaar, the decision of the Union Government by and large elicited a proactive response from members of the trading community but in the immediate terms, inconvenience and even monetary loss was suffered by shopkeepers who had customers having only Rs 1,000 and Rs 5,00 currency notes turning back without having been able to make the intended purchase. After initial inconvenience to the public and effect on monetary dealings, the demonitisation will prove beneficial to the nation in the long term, opined members of the local business fraternity.
Since the “surgical strike against black money, corruption and fake currency” by prime minister Narendra Modi was communicated to the nation by the Prime Minister himself on Tuesday night, many vehicle owners started queuing at fuel stations in a bid to use their Rs 1,000 and Rs 500 denomination currency notes. Similarly, on Wednesday, vehicle owners could be seen forming long queues at petrol-diesel stations in different parts of the city sine early morning. Apart from the staff of the fuel station, police personnel were also also seen regulating the queue formation and maintaining order. In one of the city’s major market areas — the Paltan Bazaar—and in other commercial areas, the demonitisation decision appeared to have elicited a mixed response from the general public and members of the business fraternity. “This is a welcome step initiated by prime minister Narendra Modi targeted at the hoarders of black money and those indulging in corruption. Initial hiccups and some inconvenience is bound to be faced, we have had a number of potential customers who went back empty handed on Wednesday as they had mostly Rs 1,000 and Rs 500 currency notes. However, I expect that the initial inconvenience will not last long and will make way for retrieval of black money,” opined one of the shop-keepers along Chakrata Road.
It should be mentioned here that those with old notes of Rs 1,000 or Rs 500 can deposit these notes in bank or post offices from November 10 onward till December 30, according to a Government statement. However, these notes will be accepted on humanitarian grounds at Government hospitals, pharmacies in government hospitals (with prescription of a doctor), booking counters for railway tickets, government buses, airline ticket counters, petrol, diesel and gas stations of PSU oil companies, consumer cooperative stores authorised by the State or Central Government, milk booths authorised by state government and crematoria, burial grounds.