The surgical strike on black money holders by the central government has received mixed response in the heritage city. Though the people have backed the bold step by the government, it has caused confusions among the public. The immediate demonetising the currency notes of Rs 500 and Rs 1000 has affected the public adversely.
To back the withdrawal of the currency notes, the government has announced the closure of the banks on November 11 and all the ATM machines will remain shut on November 9 and 10. The public who were unaware of the decision were seen having the currency notes of Rs 500 and Rs 1000 and were seen struggling to employ the money. Fortunately for the public, the currency notes are being accepted in several transactions including Railways, KSRTC and several hotels.
Speaking to City Today, Narayana Gowda, President of Hotel Owner’s association said: “We have directed the hotels to accept the currency notes of Rs 500 and Rs 1000. As the banks and ATMs are not operating for 2 days, it is very difficult for them to have the change. So the hotels are directed to receive the notes.”
“The decision of the government to ban the currency notes of Rs 500 and Rs 1000 is a welcome move to control the corruption and black money. It is difficult to have a transaction for few days, but it will help to have a strong economy in the future. Several small hotel owners are scared to accept the notes and they are not fully aware of the ongoing reforms. We have requested most of the hotel owners to cooperate with the customers, but giving the change has been a major problem for us,” he added.
“KSRTC is accepting the notes of Rs 500 and 1000 for the next 3 days. We have not found any big problems being faced by the public. We are currently lacking change to give to the passengers. As the notes are banned and KSRTC accepts it, people, even if they have notes of lesser denominations, they tend to employ the higher currency notes. It will not affect the bus commute and hopefully it will be sorted out in 2 – 3 days,” said Divisional Controller of KSRTC, Mahesh.
“Railway station is flooded with the passengers as usual. We are unable to tender the change to the passengers and hence we are unable to accept the notes. All the trains have the passengers as usual and no train is running out of commuters,” said railway sources.
Speaking to City Today, deputy Commissioner of commercial tax enforcement wing, Giriyannavar said: “Business will be down for several months. The rates of sites will come down and there won’t be buyers for the sites too. As there is a limit on transaction, it is difficult buy goods and services that costs high such as vehicles. The new notes of Rs 2000 will be advanced and they can be traced even if they are buried underground and this is a welcome move by the government.”
By Shreeharsha C M