Do you’ve Rs 2,000 note? Sorry, no business without Rs 500, Rs 100 notes

According to reports, wait for the new Rs 500 note in the Northeast may just get a little longer.

Subscribe to Oneindia News

Guwahati, Nov 21: Yes, this is the story across the northeastern states in India.

The Northeast India has been gripped by a peculiar problem, these days.

The region has enough availability of Rs 2,000 currency notes, but in the absence of Rs 500 and Rs 100 notes, businesses of all kinds have been hit hard.

According to reports, wait for the new Rs 500 note in the Northeast may just get a little longer.

Currency

Official sources in the regional office of the Reserve Bank of India in Guwahati told The Telegraph that they were yet to receive any definite communication as to when the "lower-denomination new currency" would be available for circulation in the Northeast.

[Also Read:Demonetisation: Northeast India worst affected; business slumps by 25 per cent, says industry body]

The uncertainty is causing panic-like situation across the region.

Almost a week back, the "higher-denomination new currency", the Rs 2,000 note, has been circulating in the Northeast region.

Initially, post-demonetisation days, the ATMs were dispensing Rs 100 notes.

However, currently ATMs are only dispensing Rs 2,000 notes. Thus there is a severe shortage of Rs 500 and Rs 100 notes which has brought all kinds of businesses to a halt.

[Also Read: Dear PM Narendra Modi, joke on demonetisation not really funny]

Customers are facing great problems in buying their daily essential items as shopkeepers are refusing to accept Rs 2,000 notes.

"The business establishments don't have lower denomination notes to give to customers in return for Rs 2,000 notes. Thus there is no transaction. The RBI should ensure that banks and ATMs across the region have enough lower denomination notes to end the crisis," said a senior official of a private bank on condition of anonymity.

On November 8, Prime Minister Modi announced scrapping of Rs 500 and Rs 1,000 currency notes to fight against black money, counterfeit currencies and terror funding.

OneIndia News

Please Wait while comments are loading...