In time of cash crunch, sellers offer solutions to make things easier

While some kirana shops have started using mobile payment options at stores, others have installed credit card machines

Written by Kaunain Sheriff M | New Delhi | Published:November 13, 2016 3:09 am
Demonetisation, Delhi, New Delhi news, shops-swiping machine, national news, indian express, currency ban  Many kirana shops have installed card swiping machines.

In central Delhi’s Rajendra Nagar, 26-year-old Naveesha purchased vegetables and fruits worth Rs 500 — using the old currency note. The government may have made the old notes redundant, but some vendors are still accepting them, albeit with a rider: You must spend in multiples of 500.

“The vegetable vendor said he will accept a Rs 500 note if I purchase for that amount. I bought more fruits because those can be stored,” said Naveesha, an engineer from Bengaluru.

The vendor, who has been selling fruits and vegetables in the area for over seven years, explained: “Our total business does not exceed Rs 3,000. If someone makes a purchase for the exact amount, like Rs 500 or Rs 1,000, I can deposit it the next day or exchange it at the bank. But I don’t have money to give as change if they purchase for less. It’s better than sending customers back.”

In east Delhi, 23-year-old Manisha, who usually buys groceries from kirana shops using cash, has now started using a “credit system” — where she can make purchases and repay the amount within 15 days.

Manisha is among 75 customers at Lucky General stores who availed the service on Saturday. “We used to extend credit to customers for less than 7 days. Now, we have extended it to 15 days, so more people are coming to buy from us. We used to get about 50 such customers a day; now we get about 75,” said Anil Kumar, the store’s owner.

Asked why the store had changed its policy, Kumar explained that he, too, had got a broader window from suppliers. “Wholesalers are now giving us 20 days to pay them back. But this model can sustain only for 15 days. After this, we will stop giving any credit,” he said.

While some kirana shops have started using mobile payment options at stores, others have installed credit card machines. “We used to give the option of credit card only if someone made a purchase over Rs 1,000. Now we have relaxed this,” said Kumar.