Team Herald
VASCO/PONDA/MARGAO: Economic activities in Margao, Ponda and Vasco came to a near standstill on Wednesday after the government de-monetised Rs 500 and Rs 1,000 notes from Tuesday midnight, in an effort to combat terrorist funding, corruption and black money.
People, including office goers, vendors and shoppers had to go through a harrowing time on Wednesday as majority of the commercial establishments in Vasco were refusing to take Rs 500 and Rs 1,000 notes and were demanding only Rs 100 notes for providing services or goods.
Worse still, even at the petrol pumps, the operators were asking customers to either fill petrol of Rs 500 or Rs 1000 or should pay money in change including Rs 100 with the claim that they don’t have enough Rs 100 notes to offer as change for Rs 100 notes.
This had left the customers to face harrowing time with hunting to get Rs 100 change in exchange of Rs 500 or Rs 1000 notes. Many were even seen rushing to stores in a desperate bit to get rid of their high denomination notes and such scenes were seen all across Mormugao taluka.
“It was pretty difficult for all, as shopkeepers/vendors and even petrol pumps operators are refusing to honour Rs 500 and Rs 1,000 notes and were demanding only Rs 100 or less denomination notes since Tuesday night. The condition got worse on Wednesday with the Vasco market wearing deserted look,” said Preetam Keluskar, a Vasco based social activist.
At Vasco vegetable, fish, chicken and mutton markets, the situation was similar to any other business centers as even here the vendors were not having enough Rs 100 notes and were seen struggling to do their daily business.
Similarly, the hotels in Vasco were struggling to do business. Few hotels accepted Rs 500, Rs 1,000 notes, but only after lengthy argument with customers.
Many hoteliers claimed that they could not do business as people were coming with Rs 500 and Rs 1,000 notes to have food and to get their note exchanged with low denominations notes. Those having card swipe facilities at their hotels were seen doing their operations with little comfort, but not with satisfaction as even they were running short of low denominations notes to carry local purchases for hotel.
Same was with the public transport as the bus operators and taxi operators directly refused to accept Rs 500 and Rs 1,000 notes. KTC shuttle counter at Vasco, however, was seen accepting Rs 500 and Rs 1,000 notes. But by evening, the KTC counter began running out of low denomination notes, as such refused to accept the Rs 500 and Rs 1,000 notes.
Interestingly, it was also brought to the notice of Herald that many people in the Vasco market area who were having low denomination notes, exchanged them for high denomination notes by deducting Rs 200 for a Rs 500 note.
A Raia resident S Satarkar said that a grocery-shop refused to accept the de-monetized currency notes. However, he allowed Satarkar to pay the money later.
A traffic cop at Arlem said that he accepted Rs 500 notes as fine for breaking traffic rules.
At Fatorda, a baker Idriz said today most of his customers purchased the breads.
Basilio Dias, a middle-aged Fatorda resident, said welcomed the de-monetizing of the currency notes.
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Ponda locals doubt de-monetising
will flush out black money
PONDA: People in the temple town criticized the Modi government for de-monetising Rs 500 and Rs 1000 notes without making proper arrangement for exchanging them. Many people in the city doubt that de-monetising of these notes would eliminate the black money. The people opined that since most of the black money is invested in real estate, land, property, business and gold, it would not be possible to recover the black money. People said that due to de-monetization of Rs 500 and 1000 notes. they could not even eat their lunch in a hotel, fill fuel in their vehicles, or do their daily purchasing or marketing, despite having money in their pocket. However, when people learnt that they had at least 50 days to exchange their Rs 500 and 1000 notes, businesses, vendors, hotels and petrol pumps began accepting these notes.
