Demonetising Rs 500, Rs 1000 notes affects life in Manipur
Source: The Sangai Express

Imphal, November 09 2016: On account of the sudden demonetisation of Rs 500 and Rs 1000 notes since last midnight, people of the State have been pinched hard.

Whereas most of the wholesale dealers of Khwairamband Keithel including Paona Keithel and Thangal Keithel remained shut, other shops refused to accept Rs 500 and Rs 1000 notes.

Meanwhile, a press release issued by IOC's State Level Coordinator Sinam Ibungoton informed that oil pumps and LPG distributors of IOC, HPCL and BPCL would continue to accept Rs 500 and Rs 1000 notes for purchase of fuel and related products till midnight of November 11 .

Demonetising Rs 500, Rs 1000 notes affects life in Manipur

Yet, people who deal in exchange of high denomination currency with smaller denomination note enjoyed a brisk trade.

They charged as much as Rs 50 for exchanging Rs 500 notes with smaller denominations and Rs 100 for exchanging Rs 1000 with smaller denominations.

Even though Khwairamband Keithel was not as busy as the other days, people who came for different articles including food items had to go back empty handed as the shopkeepers refused to accept Rs 500 and Rs 1000 notes.

Some select oil pumps were opened today and large queues were seen at these places.

But people who brought Rs 500 and Rs 1000 notes were allowed to refuel their vehicles only after showing valid identity cards.

A commotion broke out for a brief period at Keishampat as MSPDCL officials refused to accept Rs 500 and Rs 1000 notes from electric consumers who came to purchase pre-paid coupons.

People came back in the afternoon and bought pre-paid power coupons with Rs 100 and smaller denominations.

One shopkeeper of Thangal Keithel told The Sangai Express that Prime Minister Narendra Modi's initiative of invalidating Rs 500 and Rs 1000 notes was commendable but the way the initiative has been implemented caused a lot of difficulties to the public.

All trading and commercial activities have been severely affected as shopkeepers are reluctant to accept Rs 500 and Rs 1000 notes.

On the other hand, a large number of people came to General Post Office to deposit Rs 500 and Rs 1000 notes against their respective accounts but the Post Office staff refused to accept the currency notes of the particular denominations.

Many people were also seen in front of ATM booths with the intention of drawing currency notes of smaller denominations but none of the ATM booths worked today.