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Ujjain: Demonetisation blues, 42 days and counting

FPJ Bureau | Updated on: Thursday, May 30, 2019, 10:31 AM IST

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Ujjain: Short supply of new currency notes of Rs 500 and Rs 1000 post demonetisation has wreaked havoc on the lives of lakhs of people of the city. Leaving jobs and regular livelihoods aside, people have been running from ATM to ATM in search of money in vain as most of the ATMs are not replenished properly with currency notes of all denominations.

After 42 days of note ban the RBI could not manage to supply enough currency notes of lower denomination, rendering the new Rs 2000 notes nearly useless in market. Situation of rural areas is further worse. Branches of banks located in rural areas are also cash strapped despite Central Bank’s insistence on pumping in new currency notes on priority basis to the rural banks.

Supply is not properly managed as a result the rural branches of the banks are confronting with the short supply notes.

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It is quite a tough time for farmers as well, as shortage of notes forced them to negotiate with wages of labourers and purchase of seeds pesticides and other agricultural necessities effecting production of crops. Least familiarity with Debit cards, Credit cards and other available digital alternatives has added woes to the farmers.

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Published on: Wednesday, December 21, 2016, 07:06 AM IST