With ATMs running out of cash and banks facing currency shortage, people have been staying away from markets, retail shops and hotels, in the last few days. Business slumped further on Monday.
While restaurants and bars having cashless facility are not affected much, small eateries with no credit/debit card swiping option are seeing a drop in customers. Kunal M, the owner of a chaat shop at Kammanahalli, said the number of customers has dipped by 50%.
"We had to turn away people with old notes as we too do not have change. Customers place only small orders," he added.
Yele Srnivas from KR Puram said sales had decreased by over 70% with farmers refusing to visit the market to sell their produce. "Since last Thursday, only a handful of farmers have been selling their produce. Even customers are not spending money and sales have dropped," he added.
Similarly, at KR Market, Kalasipalyam and Malles-waram markets and other markets, traders rued that their businesses has taken a beating. "I purchased a sack of capsicum and other vegetables in bulk from a wholesale merchant a couple of days back. But now, they are rotting as there are no sales and customers are trying to save in their money due to shortage of cash at ATMs and banks," said a vegetable trader, Mohammed Yusuf, from Fraser Town.
Jewellery shop owners said though most customers were making use of the cashless facility, sales had been affected. "Afew customers are walking away on knowing that we are not accepting old currency notes. Sales have dipped by over 20%," a staffer of a jewstore in Gandhi Bazaar said.![]( "A jewellery store in the city is deserted as the footfall plunged following the demonetisation. DH Photos/B K Janardhan and Ranju P")
With ATMs running out of cash and banks facing currency shortage, people have been staying away from markets, retail shops and hotels, in the last few days. Business slumped further on Monday.
While restaurants and bars having cashless facility are not affected much, small eateries with no credit/debit card swiping option are seeing a drop in customers. Kunal M, the owner of a chaat shop at Kammanahalli, said the number of customers has dipped by 50%.
"We had to turn away people with old notes as we too do not have change. Customers place only small orders,” he added.
Yele Srnivas from KR Puram said sales had decreased by over 70% with farmers refusing to visit the market to sell their produce. "Since last Thursday, only a handful of farmers have been selling their produce. Even customers are not spending money and sales have dropped,” he added.
Similarly, at KR Market, Kalasipalyam and Malles-waram markets and other markets, traders rued that their businesses has taken a beating. "I purchased a sack of capsicum and other vegetables in bulk from a wholesale merchant a couple of days back. But now, they are rotting as there are no sales and customers are trying to save in their money due to shortage of cash at ATMs and banks,” said a vegetable trader, Mohammed Yusuf, from Fraser Town.
Jewellery shop owners said though most customers were making use of the cashless facility, sales had been affected. "A few customers are walking away on knowing that we are not accepting old currency notes. Sales have dipped by over 20%,” a staffer of a jewstore in Gandhi Bazaar said.
While restaurants and bars having cashless facility are not affected much, small eateries with no credit/debit card swiping option are seeing a drop in customers. Kunal M, the owner of a chaat shop at Kammanahalli, said the number of customers has dipped by 50%.
"We had to turn away people with old notes as we too do not have change. Customers place only small orders," he added.
Yele Srnivas from KR Puram said sales had decreased by over 70% with farmers refusing to visit the market to sell their produce. "Since last Thursday, only a handful of farmers have been selling their produce. Even customers are not spending money and sales have dropped," he added.
Similarly, at KR Market, Kalasipalyam and Malles-waram markets and other markets, traders rued that their businesses has taken a beating. "I purchased a sack of capsicum and other vegetables in bulk from a wholesale merchant a couple of days back. But now, they are rotting as there are no sales and customers are trying to save in their money due to shortage of cash at ATMs and banks," said a vegetable trader, Mohammed Yusuf, from Fraser Town.
Jewellery shop owners said though most customers were making use of the cashless facility, sales had been affected. "Afew customers are walking away on knowing that we are not accepting old currency notes. Sales have dipped by over 20%," a staffer of a jewstore in Gandhi Bazaar said.
With ATMs running out of cash and banks facing currency shortage, people have been staying away from markets, retail shops and hotels, in the last few days. Business slumped further on Monday. While restaurants and bars having cashless facility are not affected much, small eateries with no credit/debit card swiping option are seeing a drop in customers. Kunal M, the owner of a chaat shop at Kammanahalli, said the number of customers has dipped by 50%.
"We had to turn away people with old notes as we too do not have change. Customers place only small orders,” he added.
Yele Srnivas from KR Puram said sales had decreased by over 70% with farmers refusing to visit the market to sell their produce. "Since last Thursday, only a handful of farmers have been selling their produce. Even customers are not spending money and sales have dropped,” he added.
Similarly, at KR Market, Kalasipalyam and Malles-waram markets and other markets, traders rued that their businesses has taken a beating. "I purchased a sack of capsicum and other vegetables in bulk from a wholesale merchant a couple of days back. But now, they are rotting as there are no sales and customers are trying to save in their money due to shortage of cash at ATMs and banks,” said a vegetable trader, Mohammed Yusuf, from Fraser Town.
Jewellery shop owners said though most customers were making use of the cashless facility, sales had been affected. "A few customers are walking away on knowing that we are not accepting old currency notes. Sales have dipped by over 20%,” a staffer of a jewstore in Gandhi Bazaar said.