VIJAYAWADA: Vijayawada city is currently grappling with a significant challenge in cash transactions, aggravated by widespread misinformation surrounding the validity of old Rs 100 notes and Rs 10 coins.
This misinformation has led to many businesses including retailers, grocery merchants, tea stalls and street vendors hesitating to accept these denominations, exacerbating the problem and causing inconvenience to ordinary citizens, particularly in the city, despite being prevalent across the State.
This situation has created difficulties for the general public, who rely on cash transactions for their daily needs.
“It’s sad, no one from street vendors to some petrol bunks in the city is accepting old hundred rupee notes, even the bankers say that they are valid and not yet banned. Some vendors are also not accepting ten rupee coins without any reason. It has become very problematic,” said Mula Venkatappaiah, a daily labourer who works in a garage in Auto Nagar.
Meanwhile, the vendors are contradictory to the allegations made by the customers. A street vendor, Balipotu Subba Rao, Kedareswarapet said, “No one is accepting the notes, and we are unable to keep them and exchange them in banks. Even the customers to the wholesalers are also not accepting them from us. So we are not accepting them from the customers. No one has confirmed that it is fake propaganda in circulation till now, so we are helpless in accepting them.”
D Naveen Kumar, a Netball coach said, “I have faced the problem of exchanging old hundred rupee notes at several places in the city. Efforts are needed to address this issue promptly and ensure smooth transactions and alleviate the inconvenience faced by both businesses and residents alike in Vijayawada,” he added.
Speaking to TNIE, NTR district Collector, S Dilli Rao made it clear to all the vendors in the city that the misinformation surrounding the validity of these currency denominations is unfounded and said, “There are no restrictions on the circulation of old Rs 100 notes and Rs 10 coins. If there were any issues with these denominations, the Reserve Bank of India (RBI) would issue a public notice regarding the matter.”