A panel discussion organised on Saturday by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) to discuss the aftermath of demonetisation highlighted the difficulties being faced by traders.
Members of the FKCCI spoke about the problems they face while swapping old notes or withdrawing cash at banks and ATMs. Ramesh Chandra Lahoti, president, Bangalore Wholesale Food Grains and Pulses Merchants' Association, said banks were asking for Aadhaar card even if someone was just depositing old notes.
Another member of the FKCCI feared that small- and medium-scale industries would collapse if the shortage of low-denomination notes was not addressed immediately.
Ravichandran Ramaswamy, Director of Income Tax (Intelligence and Criminal Investigation), who was one of the panelists, claimed that the country would "benefit from demonetisation in the long run".
FKCCI president M C Dinesh suggested short-term and long-term measures to mitigate the hardship caused by demonetisation. "Bank literacy, digital literacy, increase in cash withdrawal limit, and circulation of low-denomination notes through micro ATMs, banks and ATMs are some of the steps the government should take," he said. Rangaswamy said the suggestions given at the discussion be forwarded to the government for appropriate action.
![]( "Business was low at the Alankar Pearl Plaza on KG Road. dh photo/M S MAnjunath")
A panel discussion organised on Saturday by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) to discuss the aftermath of demonetisation highlighted the difficulties being faced by traders.
Members of the FKCCI spoke about the problems they face while swapping old notes or withdrawing cash at banks and ATMs. Ramesh Chandra Lahoti, president, Bangalore Wholesale Food Grains and Pulses Merchants’ Association, said banks were asking for Aadhaar card even if someone was just depositing old notes.
Another member of the FKCCI feared that small- and medium-scale industries would collapse if the shortage of low-denomination notes was not addressed immediately.
Ravichandran Ramaswamy, Director of Income Tax (Intelligence and Criminal Investigation), who was one of the panelists, claimed that the country would "benefit from demonetisation in the long run”.
FKCCI president M C Dinesh suggested short-term and long-term measures to mitigate the hardship caused by demonetisation. "Bank literacy, digital literacy, increase in cash withdrawal limit, and circulation of low-denomination notes through micro ATMs, banks and ATMs are some of the steps the government should take,” he said. Rangaswamy said the suggestions given at the discussion be forwarded to the government for appropriate action.
Members of the FKCCI spoke about the problems they face while swapping old notes or withdrawing cash at banks and ATMs. Ramesh Chandra Lahoti, president, Bangalore Wholesale Food Grains and Pulses Merchants' Association, said banks were asking for Aadhaar card even if someone was just depositing old notes.
Another member of the FKCCI feared that small- and medium-scale industries would collapse if the shortage of low-denomination notes was not addressed immediately.
Ravichandran Ramaswamy, Director of Income Tax (Intelligence and Criminal Investigation), who was one of the panelists, claimed that the country would "benefit from demonetisation in the long run".
FKCCI president M C Dinesh suggested short-term and long-term measures to mitigate the hardship caused by demonetisation. "Bank literacy, digital literacy, increase in cash withdrawal limit, and circulation of low-denomination notes through micro ATMs, banks and ATMs are some of the steps the government should take," he said. Rangaswamy said the suggestions given at the discussion be forwarded to the government for appropriate action.
A panel discussion organised on Saturday by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) to discuss the aftermath of demonetisation highlighted the difficulties being faced by traders. Members of the FKCCI spoke about the problems they face while swapping old notes or withdrawing cash at banks and ATMs. Ramesh Chandra Lahoti, president, Bangalore Wholesale Food Grains and Pulses Merchants’ Association, said banks were asking for Aadhaar card even if someone was just depositing old notes.
Another member of the FKCCI feared that small- and medium-scale industries would collapse if the shortage of low-denomination notes was not addressed immediately.
Ravichandran Ramaswamy, Director of Income Tax (Intelligence and Criminal Investigation), who was one of the panelists, claimed that the country would "benefit from demonetisation in the long run”.
FKCCI president M C Dinesh suggested short-term and long-term measures to mitigate the hardship caused by demonetisation. "Bank literacy, digital literacy, increase in cash withdrawal limit, and circulation of low-denomination notes through micro ATMs, banks and ATMs are some of the steps the government should take,” he said. Rangaswamy said the suggestions given at the discussion be forwarded to the government for appropriate action.