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Home / Coastal News / Shortage of small denomination currencies hits flower trade in Sirsi

Shortage of small denomination currencies hits flower trade in Sirsi

Sun, 13 Nov 2016 11:57:56    S.O. News Service

Sirsi: Petty vendors had to face the brun of shortage of small denomination currencies in Sirsi market following demonetisation of Rs 500 and Rs 1,000 currency noes. Sellers of flowers, sugarcane, tamarind and other small items faced problems.

The market on day of Tulasi Pooja which is part of traditional observances in rural and urban areas usually witnesses heavy crowd and brisk business. And this time people celebrated the occasion on Friday but market was not abuzz with customers. Flower vendors were seen waiting for customers. Traders from Haveri region bring flowers to Sirsi market during Tulasi Pooja. But most customers insisted on transacting with old currency notes while traders demanded small denomination notes.

Sugarcane vendors were selling five canes at Rs 100 but customers were not purchasing them with enthusiasm. Even price of flowers were also being quoted less but had a very few takers, said traders Shekhar.

Meanwhile, serpentine queues were seen in front of all banks. Some received new Rs 2,000 currency notes while others were demanding notes of Rs 100 denomination.


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