Nine days after the Prime Minister’s move to demonetise old currency of Rs500 and Rs1,000, transactions involving the new Rs2,000 note are facing an expected problem. Shop owners are finding it difficult to tender change to customers as most offer these notes for purchases of small amounts.
“People hand a Rs2,000 note and want products worth Rs500. I have to say no even when it is a big amount for people like us,” said Sanjeeva Rao, a general store owner in Borivli. “The situation will probably cool down once the Rs500 notes are in circulation,” he added.
Shopkeepers and customers provide change for Rs2,000 only if the purchases are close to the amount.
Another shopkeeper in Kandivli said people get furious when they don’t tender change for the new denomination. “How am I supposed to give change if one is buying products worth Rs600 ?,” said Hansraj Mehta, who runs a provision store.
“Two such transactions and I will have to close down my shop’s shutter at the very start of the day.”
Shop owners say there is no scope of exchanging or getting change for Rs2,000 once they receive it.
“People can get change from us once they buy products worth Rs1,000 or above. Where will we go?” said Anand Dedhia, a grocery shop owner in Dahisar.
Some customers came out from shops after getting change for purchases as cheap as Rs200.
“I bought bread and pastries from the bakery shop and received change for Rs 2,000,” said Meher Homji, a Marine Lines resident as she stepped out of a bakery. “They have to tender change to customers. Shopkeepers are our last source of change.”