1. Demonetization Effect: Now, petrol pumps, toll plazas refuse Rs 500, Rs 1000 notes

Demonetization Effect: Now, petrol pumps, toll plazas refuse Rs 500, Rs 1000 notes

Demonetisation effect: Close to 90% of 3 million trucks on India's roadways have been stuck for up to two days on country's highways, as petrol pumps, toll-plazas and small eateries refuses to accept cash payments in denominations of Rs 500 and Rs 1000.

By: | Published: November 14, 2016 3:58 PM
The report said that due to cash scarcity some of the trucks are stucked for the past couple of days, this has caused highways lined with heavy traffics, an industry executive said. (Reuters) The report said that due to cash scarcity some of the trucks are stucked for the past couple of days, this has caused highways lined with heavy traffics, an industry executive said. (Reuters)

Demonetisation effect: Close to 90% of 3 million trucks on India’s roadways have been stuck for up to two days on country’s highways, as petrol pumps, toll-plazas and small eateries refuses to accept cash payments in denominations of Rs 500 and Rs 1000. However, now reports have emerged that petrol pumps and even toll plazas are refusing to accept Rs 500 and Rs 100 notes depsite the government making it mandatory for all these outlets to do so. This has also negatively impacted cash shortages delaying the timely delivery of consignments such as commodities, vegetables, pulses, and other food products to their destinations.

“While we are all in full support of the demonetisation move, transporters should have been given more time to take care of their cash situation,” said Vijay Kumar, chief operating officer of the lobbying body Express India Council of India, according to TOI.
On November 8, PM Narendra Modi made a historic announcement on the ban of Rs 500 and Rs 1000 notes. In an statement issues by RBI charges at government hospitals, ticket counters at state-run bus services and railways and petrol pumps would accept the obsolete notes till November 11. Later, this was extended till November 14 with a few additions such as court fees.

The report said that due to cash scarcity some of the trucks are stucked for the past couple of days, this has caused highways lined with heavy traffics, an industry executive said. “Truck drivers are usually given Rs 35,000 advance for long distances. As much as Rs 25,000 of it can be spent on fuel. But outlets are refusing to accept (demonetised) currency. Hence trucks are stuck,” said the chief of a leading trucking company who refused to be identified. “We usually have good relationships with roadside dhabas, but all that has come to nought. A dhaba owner told us that he is at his wits’ end on what to do with his Rs 5 lakh savings.

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