Stung by their ordeal following the shock demonetisation of 2016, Delhi residents are making a beeline to petrol stations to dump Rs 2,000 notes which might be being withdrawn from circulation.
The high-value notes might be exchanged or deposited in financial institution accounts between tomorrow and September 30 this yr, the Reserve Financial institution of India has mentioned. Assuring the those that there is no such thing as a have to panic, RBI Governor Shaktikanta Das at the moment mentioned the Rs 2,000 notes will proceed to be authorized tender after the deadline.
Delhiites, nonetheless, are in no temper to take possibilities. The serpentine queues outdoors banks in 2016 nonetheless contemporary of their reminiscence, they’re dashing to gasoline pumps.
Ednbox spoke to a number of prospects at gasoline pumps in east Delhi as they waited to replenish their tanks and empty their pockets of the high-value notes.
Akhil Gupta does not have many Rs 2,000 notes. “I’ve determined that I’ll use them to refuel over the following 4 months,” he mentioned.
Azeem, who holds a pink notice in his hand, runs a store. “Some shopkeepers are usually not accepting the excessive worth notes. So I’ve determined that I’ll use them to refuel,” he mentioned.
Minu, additionally ready for her flip on the gasoline pump, mentioned they began spending Rs 2,000 notes quickly after the announcement on Saturday. “We have now determined to purchase jewelry and different gadgets to spend these notes rapidly,” she mentioned.
Gas pumps, in the meantime, are receiving these excessive worth notes in giant numbers. Shailendra Mishra, who works as a gross sales supervisor at a petroleum pump in Mayur Vihar, informed Ednbox, “Earlier, we might get a most of fifty notes of Rs 2,000 in 24 hours. Now we’re getting as many as 300.”
The bounce in funds by high-value notes has led to issues for gasoline pump operators. “Persons are utilizing Rs 2,000 notes to pay for gasoline value Rs 200-300. We’re struggling to return the change,” mentioned Raman, who works at a gasoline pump in Mayur Vihar.