At the time of cash crunch, when the government has ordered demonetisation of high-value notes, there continues to be some vendors, who are still accepting Rs 500 notes but with a rider that customers have to spend in multiples of Rs 500. When asked, she said that the vendor was ready to accept the Rs 500 note, provided she purchase for that amount.
The vendor also said that since he total business in the entire day, doesn’t exceed Rs 3,000, if someone purchase with amount of Rs 500 or Rs 1,000, he can deposit or exchange the money in bank the next day, but it would be difficult to give change if customers buy in less amount, ‘The Indian Express’ has quoted him as saying.
Manisha, a resident of East Delhi, who earlier used to but essential items in cash, is now forced to use credit card, where she can repay the amount in 15 days.She is among several customers at a store, who have availed this service. Its owner Anil Kumar told the paper that earlier they used to extend credit to customers for less than 7 days, now that it has been extended to 15 days, more customers are coming to them.
When asked, why he changed the store’s policy, Kumar said he too ot a broader window from supplier. He added that wholesalers were also giving shopkeepers 20 days time to pay, but the model can sustain only for 15 days, after which credit won’t be given.
While some grocery shops have started using mobile payment options, others have installed credit card machines.