Sorry, no change for the new Rs 2,000 note, say Kolkata shopkeepers

Shopkeepers refused to accept new Rs 2,000 in fear of losing their priced Rs 100 notes as change.
A man counts Indian rupee banknotes after withdrawing them from State Bank of India ATM in Kolkata, India | Reuters
A man counts Indian rupee banknotes after withdrawing them from State Bank of India ATM in Kolkata, India | Reuters

KOLKATA:The woes of the common man over demonetisation are not ready to end as shopkeepers refused to accept new Rs 2,000 in fear of losing their priced Rs 100 notes as change.

Shopkeepers throughout Kolkata, fruit sellers, fish vendors or chemists, are ready to compromise with their business. They do not want to part with their Rs 100 notes as change for the new Rs 2,000 notes.
“Where will I get the change from? The customers won’t accept Rs 500 notes and I don’t want to give away my Rs 100 notes,” said Shamik Majumdar, a chemist in Raja Bazaar.

This is precisely the reason why many who are exchanging their old currencies with the new ones preferred new Rs 500 notes over the Rs 2,000. “Where will I get the change of Rs 2,000?,” asked Jitender Sharma, a customer at a bank in Bhowanipore area.

However, people’s preference of Rs 500 notes over Rs 2,000 notes is another cause of concern in the banks, which are already grappling with a shortage of new notes.

“Several customers want only new Rs 500 notes. Due to this Rs 500 notes got over and we are left with Rs 2,000 notes,” said a banker in Tollygunge.

On the other hand, the refusal of shopkeepers to accept Rs 2,000 notes has become a boon for the shopping malls, where credit and debit cards are accepted.

“Instead of doing away with the Rs 100 and new notes, I have started buying vegetables and other necessities from a shopping mall close by, where I am using my card. Only I am not able to buy fresh fishes from the supermarket,” said a disappointed Rajib Sarkar.

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