Visakhapatnam: The demonetisation of higher currencies has revitalised the monthly credit system at the street-corner kirana shops here. The kirana stores, which used to do good business in the grocery sector before the arrival of supermarkets, had been of help to residents by extending groceries on credit basis.
Kirana shop owners as well as consumers have yet again embraced the credit system to tide over the situation of no-cash when they are increasingly finding it difficult to tender the exact change. S. Kanaka Raju of SKML Traders in Aadarsh Nagar said he was happy to see some of the old customers back at their shops.
“Our retail business is more than a buyer and retailer relation. In good old days, where we used to have a ledger for each individual family. Ledgers are back now, as consumers are finding it difficult to tender the exact change for groceries they bought, or are short of money. Even, we're happy to extend the credit in these difficult times," Kanaka Raju said.
But Kanaka Raju added that kirana business has seen a slump in the last three weeks. Some other trades from Poorna Market, Peda Waltair, Akkayyapalem and Hanumanthawaka echoed the same opinion.
Maturi Ramakrishna, a resident of the MVP Colony, explained how the credit system came to his rescue. “Our neighbourhood kirana store is now providing groceries on credit. I had stopped visiting it for a long time. I want to resume my purchases from the same store now," he added.
Though some brick-and-mortar kirana stores of Vizag have taken to the tech route, installed swiping machines and are accepting money coupons, many vendors are following their traditional business methods.
