The demonetisation has reduced the working class to a hand-to-mouth existence. With no money left in their pockets, they have been hit the hardest. Labourers across Bengaluru get their wages on Saturdays, but the liquidity crunch has turned their employers cash-strapped.
Venkatesh, a civil contractor for the BBMP in Rajarajeshwari Nagar, said that though he managed to arrange Rs 20,000 to pay the labourers, he was unable to pay them in full as he would be left with no currency in that case.
He said he offered to pay them by cheque but they declined. "It is understandable that they want cash but I can give them just enough so that they live on for a week," he said. "Everyone has become poor overnight."
Another BBMP contractor, who did not wish to be quoted, said the situation was unprecedented.
Smaller currency
"I had withdrawn Rs 10 lakh in 500- and 1,000-rupee notes to carry out the BBMP civil work but this money is no more legal tender," he said.
Biswanath Bora, a security guard, said he was unable to buy food on Friday night as he ran out of smaller currency. When he went to withdraw from an ATM at Subramanyapura on Saturday morning, a long queue greeted him. After spending almost four hours in the queue, he returned empty-handed.
"I borrowed from friends and colleagues to eat but they, too, are running out of cash and can no longer help me," he said. A native of Assam, Bora came to Bengaluru to eke out a living and works as a security guard in the labourers' quarters at an upcoming residential complex of a prominent builder in Subramanyapura. "There is chaos everywhere as even my family in Assam has been finding it difficult," he said.
DH News Service![]()
The demonetisation has reduced the working class to a hand-to-mouth existence. With no money left in their pockets, they have been hit the hardest. Labourers across Bengaluru get their wages on Saturdays, but the liquidity crunch has turned their employers cash-strapped.
Venkatesh, a civil contractor for the BBMP in Rajarajeshwari Nagar, said that though he managed to arrange Rs 20,000 to pay the labourers, he was unable to pay them in full as he would be left with no currency in that case.
He said he offered to pay them by cheque but they declined. "It is understandable that they want cash but I can give them just enough so that they live on for a week,” he said. "Everyone has become poor overnight.”
Another BBMP contractor, who did not wish to be quoted, said the situation was unprecedented.
Smaller currency
"I had withdrawn Rs 10 lakh in 500- and 1,000-rupee notes to carry out the BBMP civil work but this money is no more legal tender,” he said.
Biswanath Bora, a security guard, said he was unable to buy food on Friday night as he ran out of smaller currency. When he went to withdraw from an ATM at Subramanyapura on Saturday morning, a long queue greeted him. After spending almost four hours in the queue, he returned empty-handed.
"I borrowed from friends and colleagues to eat but they, too, are running out of cash and can no longer help me,” he said. A native of Assam, Bora came to Bengaluru to eke out a living and works as a security guard in the labourers’ quarters at an upcoming residential complex of a prominent builder in Subramanyapura. "There is chaos everywhere as even my family in Assam has been finding it difficult,” he said.
DH News Service
Venkatesh, a civil contractor for the BBMP in Rajarajeshwari Nagar, said that though he managed to arrange Rs 20,000 to pay the labourers, he was unable to pay them in full as he would be left with no currency in that case.
He said he offered to pay them by cheque but they declined. "It is understandable that they want cash but I can give them just enough so that they live on for a week," he said. "Everyone has become poor overnight."
Another BBMP contractor, who did not wish to be quoted, said the situation was unprecedented.
Smaller currency
"I had withdrawn Rs 10 lakh in 500- and 1,000-rupee notes to carry out the BBMP civil work but this money is no more legal tender," he said.
Biswanath Bora, a security guard, said he was unable to buy food on Friday night as he ran out of smaller currency. When he went to withdraw from an ATM at Subramanyapura on Saturday morning, a long queue greeted him. After spending almost four hours in the queue, he returned empty-handed.
"I borrowed from friends and colleagues to eat but they, too, are running out of cash and can no longer help me," he said. A native of Assam, Bora came to Bengaluru to eke out a living and works as a security guard in the labourers' quarters at an upcoming residential complex of a prominent builder in Subramanyapura. "There is chaos everywhere as even my family in Assam has been finding it difficult," he said.
DH News Service
The demonetisation has reduced the working class to a hand-to-mouth existence. With no money left in their pockets, they have been hit the hardest. Labourers across Bengaluru get their wages on Saturdays, but the liquidity crunch has turned their employers cash-strapped. Venkatesh, a civil contractor for the BBMP in Rajarajeshwari Nagar, said that though he managed to arrange Rs 20,000 to pay the labourers, he was unable to pay them in full as he would be left with no currency in that case.
He said he offered to pay them by cheque but they declined. "It is understandable that they want cash but I can give them just enough so that they live on for a week,” he said. "Everyone has become poor overnight.”
Another BBMP contractor, who did not wish to be quoted, said the situation was unprecedented.
Smaller currency
"I had withdrawn Rs 10 lakh in 500- and 1,000-rupee notes to carry out the BBMP civil work but this money is no more legal tender,” he said.
Biswanath Bora, a security guard, said he was unable to buy food on Friday night as he ran out of smaller currency. When he went to withdraw from an ATM at Subramanyapura on Saturday morning, a long queue greeted him. After spending almost four hours in the queue, he returned empty-handed.
"I borrowed from friends and colleagues to eat but they, too, are running out of cash and can no longer help me,” he said. A native of Assam, Bora came to Bengaluru to eke out a living and works as a security guard in the labourers’ quarters at an upcoming residential complex of a prominent builder in Subramanyapura. "There is chaos everywhere as even my family in Assam has been finding it difficult,” he said.
DH News Service