Soap, pair of bangles for a ₹500 note
OPPORTUNITY IN ADVERSITY As panicstricken Delhiites tried to figure out what to do next, some cashed in by making ‘offers’ in exchange of old notes
The government has announced that the old notes can be exchanged in instalments at banks and post offices. New notes will also be made available at ATMs from Friday. Banks will open on Thursday.
“We have made elaborate police arrangements for keeping order at banks, post offices, petrol pumps, chemist shops, hospitals, Mother Dairy outlets,” Special commissioner, law and order, P Kamraj said.
People queued up in front of ATMs as soon as Prime Minister Modi announced the plan in an address to the nation on Tuesday night. Those who couldn’t get an opportunity to withdraw cash, felt handicapped to buy daily groceries or pay for transport.
Some foreign tourists at the Janpath flea market were cheated by a group of local vendors, who told them to just hand over a wad of ₹1000 notes because they were now “worthless”.
Some of them just gave away the money, while others who were more enterprising managed to get three ₹100 notes in return – which became the going rate by evening.
Police, however, refused receiving any formal complaint but assured that beat constables will be asked to check such incidents.
In other markets in Delhi, merchants operating from benches that served as makeshift kiosks, exchanged 500- and 1000-rupee notes at a 40 per cent commission.
Local vendors refused to return balance amounts on purchases made with the now-defunct notes. “I just gave old notes worth ₹2,000 and got ₹1,200 in return. It’s a loss, but what can I do?” asked Rani, a homemaker from Preet Vihar. “I will survive for the next two days with it.”
I was denied gas at a CNG station. They even picked a fight with me. Later, I went to a petrol pump, where they gave me change; but only after I filled up my tank first. Not only customers, but shopkeepers and vendors have also run out of change. The grocery shop owner said he will take ₹500 but won’t give change.