Nation Current Affairs 12 Nov 2016 Note ban after effec ...

Note ban after effects: Shops start giving credit

DECCAN CHRONICLE.
Published Nov 12, 2016, 2:27 am IST
Updated Nov 12, 2016, 2:47 am IST
This facility is being given to customers, who frequent the shop regularly to buy items.
Entries are made in a separate book so that it will be easy to keep track
 Entries are made in a separate book so that it will be easy to keep track

Hyderabad: The demonetisation of high-value notes has resulted in traders going back to the old model of lending groceries and monthly needs to regular customers. The modern ‘pay and buy’ model has given way to the older “buy now and pay later” model since Wednesday.

There is one requirement: The bill should not be too high so that the shopkeeper does not feel the pinch. “We are giving goods for credit mostly up to Rs 300. Common items like oil, flour, pulses are being sold.

 

“Entries are made in a separate book so that it will be easy to keep track, This is a special situation and hence this decision,” Mr K. Prasad, a small trader said.
This facility is being given to customers, who frequent the shop regularly to buy items.

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Location: India, Telangana, Hyderabad




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