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PM Narendra Modi’s Demonetisation Move continues to Hurt Local Traders in Delhi with 50-90 Percent dip in their Businesses

These traders have not yet adopted the modern practice of transaction, the online payment facilities

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New Delhi, November 23, 2016: Business activity in the bustling markets of Old Delhi has slowed down as a fallout of the demonetization that continues to hurt the local traders even after two long weeks.

While malls and big showrooms are said to have picked up business after the initial slump, small and medium level traders in local markets are still facing 50-90 per cent dip in their business.

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The reason — these traders have not yet adopted the modern practice of transaction, the online payment facilities.

Most of these traders in Chandni Chowk and surrounding markets do not have online payment facility, which drives customers away, said Chandni Chowk Sarv Vyapar Mandal’s General Secretary Sanjay Bhargava.

“Despite strong competition from malls and e-commerce portals, these local traders so far had managed to retain and grow their customer base,” Bhargava said.

[bctt tweet=”Some traders have started using e-wallets to attract customers.” username=””]

“However, ever since the note ban, customers are avoiding shopping at the local markets because they have insufficient cash. And local traders lack online payment facility,” said Bhargava.

Pankaj Manocha from Chawri Bazaar, a wholesale trader in paper who traditionally deals in cash-based transaction, said the paper mills stopped the supply of paper as the demand in the retail shops had gone down.

“Neither customers have cash to buy paper products from us nor we have enough cash to place new orders with the mills,” Manocha said.

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New ways of payment have to be devised in order to thrive in the business, Manocha said.

Some traders have started using e-wallets to attract customers but their number is insignificant.

According to the traders, the clothing business is the worst hit by the demonetisation, despite November being the wedding season.

A wholesale trader said that the demonetisation of Rs 500 and Rs 1,000 currency notes on November 8 affected the traditional business transaction style.

“Earlier, transactions with factories, main distributors, even with customers were carried out using cash, which would be without bill, thus without payment of tax.”

“However, we have to make payment online or in cheques now, which is making the goods costlier. It has hampered our business. We will have to see how things turn,” said the trader, requesting anonymity.

Some traders felt that the situation would be normalised, perhaps in another six months, once they started using different modes of payment.

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Mukesh Sachadeva, General Secretary of Delhi Hindustani Mercantile Association, said: “The current slowdown is due to cash crunch. Since footfall has gone down, the supply from factories and mills has reduced.”

“Now, we are adapting to the changes. We expect that all traders will start using cheques in six months’ time.” (IANS)

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Aadhaar Helpline Mystery: French Security Expert Tweets of doing a Full Disclosure Tomorrow about Code of the Google SetUP Wizard App

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Google Along with Other SSocial Media Giants will Face The Lawmakers, Wikimedia Commons
Google Along with Other SSocial Media Giants will Face The Lawmakers, Wikimedia Commons

Google’s admission that it had in 2014 inadvertently coded the 112 distress number and the UIDAI helpline number into its setup wizard for Android devices triggered another controversy on Saturday as India’s telecom regulator had only recommended the use of 112 as an emergency number in April 2015.

After a large section of smartphone users in India saw a toll-free helpline number of UIDAI saved in their phone-books by default, Google issued a statement, saying its “internal review revealed that in 2014, the then UIDAI helpline number and the 112 distress helpline number were inadvertently coded into the SetUp wizard of the Android release given to OEMs for use in India and has remained there since”.

Aadhaar Helpline Number Mystery: French security expert tweets of doing a full disclosure tomorrow about Code of the Google SetUP Wizard App, Image: Wikimedia Commons.

However, the Telecom Regulatory Authority of India (TRAI) recommended only in April 2015 that the number 112 be adopted as the single emergency number for the country.

According to Google, “since the numbers get listed on a user’s contact list, these get  transferred accordingly to the contacts on any new device”.

Google was yet to comment on the new development.

Meanwhile, French security expert that goes by the name of Elliot Alderson and has been at the core of the entire Aadhaar controversy, tweeted on Saturday: “I just found something interesting. I will probably do full disclosure tomorrow”.

“I’m digging into the code of the @Google SetupWizard app and I found that”.

“As far as I can see this object is not used in the current code, so there is no implications. This is just a poor coding practice in term of security,” he further tweeted.

On Friday, both the Unique Identification Authority of India (UIDAI) as well as the telecom operators washed their hand of the issue.

While the telecom industry denied any role in the strange incident, the UIDAI said that he strange incident, the UIDAI said that some vested interests were trying to create “unwarranted confusion” in the public and clarified that it had not asked any manufacturer or telecom service provider to provide any such facility.

Twitter was abuzz with the new development after a huge uproar due to Telecom Regulatory Authority of India (TRAI) Chairman R.S. Sharma’s open Aadhaar challenge to critics and hackers.

Ethical hackers exposed at least 14 personal details of the TRAI Chairman, including mobile numbers, home address, date of birth, PAN number and voter ID among others. (IANS)

Also Read: Why India Is Still Nowhere Near Securing Its Citizens’ Data?