HYDERABAD: Six days into the month, and almost 30 days after the announcement, the effect of demonetisation continues to haunt people. With ATM shutters down, and queues at banks getting longer by the day, relief for small time entrepreneurs is far sighted.
Sangeetha P is a school teacher who also takes tuition classes for 40 children after school hours. They contribute majorly to her monthly income.
However, there has been no in flow of cash in November and December. “A lot of children come from nearby government schools. Tuition fee is also meagre and they generally pay me whenever they can. Last month, after old notes were rendered useless, I didn’t accept them. Only 10 or 12 children paid. This month, I am still waiting for them to pay,” shared Sangeetha.
None of her students can make use of an alternative payment method like cheques or Paytm. “They can write a cheque for `150 and `200, but it will be tedious for me to get all of them exchanged for money,” she added.
On the other hand, Meera Ramesh, who tutors around 12 children and takes classes in Saket shared there was panic among parents at the start of the month. “They regretted that they couldn’t pay on time. They made delayed payments online and through cheques,” said Meera.
A month later, struggle for small biz continues
Designer and small-time entrepreneur Sunitha Rao has a textile business and her customers are mostly women. They purchase sarees and dress materials on instalment where they pay as little as `300 a month.
“Last month, there was great confusion for change. This month, I haven’t received anything.”
“There is no money on rotation and I am yet to pay my vendors,” rued Sunitha, who is now planning to get a swipe machine to get payments.
“I should have done this earlier but now it is a lot more urgent and necessary,” she added.