Hyderabad: Despite banks reopening, the fruit market at Gudimalkapur, Kallu Compound in Attapur and small shops at Abids are taking notes of Rs 500 and Rs 1,000 denomination and giving in exchange Rs 450 and Rs 900 respectively.
At Kallu compound, a man set up a table with private security guards and distributed Rs 6,000 for those who gave Rs 10,000 in the banned denominations. Those who wanted cash rushed to the compound.
Mr Saleem Ahmed, an office-goer. explained, “I required change for Rs 500 and was willing to forgo Rs 50. I need it to fill petrol and for my daily expenses. The banks have opened but there is a long queue and there is no time due to office hours.”
Fruit vendors, mobile recharge centres and petrol bunks were openly giving Rs 450 or even Rs 400 for Rs 500 notes. According to fruit vendor Imtiaz Ali, the fruit business, mobile centres, liquor shops, paan shops and miscellaneous small businesses have a lot of small change with them.
“After things became clear on how much money can be deposited in accounts they started giving away their small change for higher denomination. Each one is getting a commission ranging from Rs 5000 to Rs 10,000 a day on the small change given out by them,” he said.
Most of the people who came to Attapur were looking to change up to '20,000 as they required it to meet their expenses and also operate daily businesses. Those who didn’t have a PAN card but ran small businesses of fruits, vegetables and other miscellaneous items on cash basis were also seen.
Mr B. Raju, whose daughter is getting married, required money to pay the flower vendors. He said, “The vendor will not accept small denominations and is also not willing to work on credit. In these times the money has to be forgone.”
Those collecting Rs 500 and Rs 1000 denominations were giving out Rs 100, 50 and Rs 'notes but they were tight-lipped about what they would do with the banned currency.
People on the other hand want change and they are not bothered who takes them as long as they have got rid of the banned currency.
Nursing homes take old notes
More than 1,100 private nursing homes in the city have put out banners saying that they are accepting banned Rs 500 and Rs 1,000 currency notes and people must not shun medical care. With people apprehensive about hospitals approach us for accepting the demonetised notes, the out-patient department has seen a major dip.
Dr Suresh Goud said, “To ensure that people attend to the medical care these steps are being taken.”
Diagnostic centres have sent out messages to all their customers that payments will be accepted only by card or in cash of other denominations apart from banned notes.
