Amid Cash Crunch Pan-India, Small Vendors Unzip e-Wallets in Odisha to keep their Businesses going

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Indian Currency, Pixabay

Bhubaneswar, Nov 20, 2016: At a time when the whole nation is facing cash crunch following the demonetisation of high denomination currency notes, the small vendors in the capital city of Odisha have adopted the smart ways of payment.

They are accepting payment through mobile and online payment services to ease the problems of common people and keep their businesses going.

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Take the case of Raju, who runs a tea shop in the Unit-II area of the capital city. He is not bothered by the demonetisation as he has set up a private ‘e-wallet’ on the popular payment platform Paytm.

“I was worried after the central government announced demonetisation of Rs 500 and Rs 1,000 notes that led to cash crunch of small notes. Then, I installed a Paytm mobile app on my phone and asked my customers to pay through my mobile wallet,” said Raju.

The street vendors and grocery shops are also accepting money from the customers through e-wallets.

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“Even though the business has suffered following the demonetisation, we are receiving money through e-wallets. It has been a great help to us at the time of cash crunch,” said Tapas Panda, a shop owner in Niladri Vihar area of Bhubaneswar.

Taking advantage of the cash crunch, the mobile wallet companies are visiting the shops and persuading them to install their apps for better money transactions.

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Meanwhile, the city people are facing a new problem. With ATMs and banks now giving away new Rs 2,000 notes, people are witnessing a clamour for change as the banks are dispensing limited number of fresh Rs 500 notes.

“I purchased grocery items of Rs 450 from a shopkeeper and handed him a Rs 2,000 note. But he refused to give back the balance change, saying he has limited Rs 100 notes. He insisted that I spend over Rs 800 to get smaller denomination notes,” said Ranjan Sahu, a resident. (IANS)

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