VISAKHAPATNAM: With no improvement in the cash crisis situation, particularly the problems owing to lack of loose tender, vendors and shopkeepers in the city are resorting to the ‘jugaad system’.
In stead of giving back loose tender to customers who pay Rs 2,000 for smaller purchases, the vendors are giving them coupons ‘valued’ at Rs 50 and Rs 100 urging that the latter can make use of those in their subsequent purchases.
People are suffering as a very few shops are accepting Rs 2,000 notes and small shops are also losing their customers to super markets and malls where card swiping facilities are available. And here, the jugaad system comes into play.
The vendors are giving coupons carrying the stamp of their shops and signature of the proprietor to customers in stead of loose tender, urging that the latter can make use of the coupons during the next purchase.
“All are suffering from cash shortage. So, we have started giving coupons. Though, it’s just a trust factor, but it works as we know our customers very well and vice-versa. Some customers are also hesitant. But, what to do? The show must go on,” says a shopkeeper in Akkayyapalem.
The wine shops, bar and restaurants have also been following a similar practice, but with difference.
The wine shopkeepers in the city remove the excise hologram stickers from the bottles and paste the same on the stamped coupons.
“From where should we bring lose tender when banks are suffering from inadequate cash supply? The daily sale of our shop stands somewhere between Rs 60,000 to Rs 70,000. Majority of the customers bring only Rs 2,000 note and purchase liquor of Rs 200 and Rs 300. It’s not possible to provide Rs 100 notes to all. We have to make some alternative arrangements,” says a wine shop manager.
Another vendors says the coupons solve dual purpose. “We can retain our customers and issuing coupon is a surety that the customers will keep coming to our shops till they make the full purchase of Rs 2,000,” quips a shopkeeper at Maddilapalem.