Youngsters living in hostels have started depositing new currency with grocery shop vendors who return money in installments. AMC officials unaware that daily wage labourers are being paid in banned currency notes .Co-op banks in a fix over ban on exchange and deposit of currency
HYDERABAD: The demonetisation of big currency has surely disturbed the working class -- be it the employed, self-employed and unorganised -- apart from home makers. But there is a section of people whose problems are left unheard by many: the student community. The community is suffering due to non-availability of small change.
Parents who are unable to bring smaller denominations for their children’s pocket money are making use of wallets like Ola Money, Paytm and MobiKwik.
The student, after travelling to college by a cab, is able to pay for his ride not by digging into his pocket but by a few clicks on his smartphone. His sense of calm remains undisturbed until the recess bell rings because going to the canteen means spending money which he does not have. And this is just the beginning of woes for the youngsters.
In some cases, tired of asking around for change, students living in hostels have deposited the new currency with grocery shop vendors who return the money in smaller denominations in installments. Even some of the coffee shops and tiffin centres, that claim to be short-changed, are ready to run a temporary account with the Rs 500 or Rs 2,000 notes that the student gives them.
Naseem, a degree college, said, “I can’t lose another day to get my pocket money. I would rather starve than waste my time outside a bank.”
When the need for change is necessary and unavoidable, they are ready to lose upto Rs 100 which is the exchange rate that is going on in petrol pumps and many stores. As a solution, some youngsters feel it is better to relax at home, order pizza and watch movies online. No hookah centres or late night outings for a while.