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Middle class people faces the first blow of Modi’s demonetization ;

by IT Web Admin
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Shops and even govt. cash counters in ImIT News
Imphal, Nov 9: The Narendra Modi Government’s move to demonetize the Rs 500 and Rs 1000 currency note from midnight of November 8 has given a severe blow to the day today life of the common people as shops owners which deals with day today essential commodities refuse to accept Rs. 500 or Rs 1000 notes to buy goods.
Even electric consumers here in Imphal had to return back without recharging their meter as the electric prepaid recharge counter refuse to accept the two currency note. Many common people and small time business runner which depend on electricity fear black out as their electricity balance is overdue.
On the other hand middle class family who use to survive on small earning and which runs their family by buying goods everyday from grocery shops have to return back without buying any commodities for the family. As prizes of essential commodities gone up during the last couple of years each middle class family considered stocking either Rs. 500 or Rs. 1000 currency note to make alive their family.
Imphal’s main business hubs Paona Market, Thangal Market among others shut their shutters. Most small shops run to support their family too have been shut down in the afternoon. For quite some times in the morning some grocery shops are seen opened but refuse to accept the Rs. 500 and Rs. 1000 currency note on the ground that they didn’t have any change.
Banks too are not open today in Imphal, as report said that as the decision to demonetize the Rs 500/1000 currency note came in a hasty manner, the employees here in the banks left with no choice but to close the doors, this is what the common people believe. However Government had yesterday announced to close all Bank to the public today in the wake of the new development.
On the other hand good number of high class people who are using net banking facilities and who are living in towns with credit or ATM cards cash payment are somehow relieved as they are able to get the essential commodities.
In the meantime, some people are reported to have been offering change for Rs 500/1000 currency notes by charging Rs. 100 for each 500. 

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Imphal Times is a daily English newspaper published in Imphal and is registered with Registrar of the Newspapers for India with Regd. No MANENG/2013/51092


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