After the decision of demonetisation of the currencies of Rs500 and Rs1,000, normalcy has started to return in local market. Members of various sections of the society looked pleased with the decision whereas shopkeepers accepted that first two days their business was badly hit but now people have started coming to the market.
Mahendra Prasad, an owner of readymade garment shop, said that after festivals usually our sales goes down and in this season our main sale is of woolen items. I can say that till yesterday less numbers of consumers
turned off but today it seems that the sale will cross 50% mark in comparison to previous year sales of starting days of winter.
Vinod Kumar who runs a hardware shop accepted that sale has started recovering but it has reached only up to 30-40% mark in comparison of our per day sale before demonetization. Many other businessmen accepted that the market has started recovering but the pace is slow.
Prof BK Gupta, whose daughter’s marriage is on
November 21 was very worried but now a relieved man. “I had heard the proverb that friends are tested during bad days and I found it correct.
Since I had withdrew a huge cash before demonetisation so I was worried but my friends and colleagues came forward.
They all withdrew Rs1000 from their accounts and now I have ample smaller denomination notes to meet the small payments during the ceremony. For big payments I am using cheque and online payment and everyone is accepting it.”
long queues in front of banks were seen on Sunday as well but at a local branch of Union Bank of India suddenly it became smaller.
When asked the branch manager said, “I was watching since last three days that many people are coming again and again to get their old notes of value Rs4000 exchanged with 100 or 2000 notes.
Today I said that exchange facility will be given to only those who will declare in writing that there is no bank account in his or her name anywhere in the country. It worked and most of the people in queue returned back.”