Note Ban: Why pay day is no joy day for working class
Bengaluru, Dec 1: Raju PN, who works as a helper in a small Udupi restaurant in Indiranagar, Bengaluru, eagerly waits for the first day of every month as he gets his salary on the day.
However, this December, Raju wears a forlorn face, as the owner of the eatery had told him and his colleagues that he won't be able to pay them full salaries.
Raju's plight is shared by almost all who work in the informal sector and fall under low income bracket.
Because of Reserve Bank of India's latest rules, following the demonetisation of Rs 500 and Rs 1,000 currency notes, several restrictions have been imposed on the amount of money a person can withdraw from banks and ATMs.
"People can withdraw up to Rs. 24,000 per week from banks and Rs. 2,500 from ATMs per day," states the latest RBI rule.
[Also Read:Pay Day chaos: Banks face crunch of Rs 100, Rs 500 notes, customers refuse to accept Rs 2,000 notes]
But most banks have said they cannot disburse more than Rs. 10,000 a person because of the cash crunch.
"I am really distressed. My salary is meagre Rs 10,000. However, because of demonetisation my employer has told me he can't pay me my entire salary. Our salary will be given in several parts over the month," said Raju.
Raju's employer, Mohan Reddy, adds that he is helpless. "I am helpless. Tell me what can I do? I can withdraw only Rs 24,000 a week from banks. That is why I have asked my workers to cooperate. I can understand their plight. This demonetisation has worst effect on the poor people who work hard to earn money."