The unorganized traders—agriculturists and small traders among others—in the state have been bearing the brunt of demonetisation since the second week of November as cash is the only mode of transaction they are familiar with.
In a recent survey conducted by a citizen engagement platform, Local Circles, involving 8000 respondents, indicated that 90 per cent of traders and small retailers experienced a decline in their business post demonitisation.
"Ninety per cent of the traders and small retailers in 200 cities across the country experienced a decline in their business ranging from 0 to 90 per cent,” said the survey report.
However, the Federation of Karnataka Chamber of Commerce and Industry (FKCCI) has been putting its best foot forward to help traders to adopt cashless modes of transaction by organizing a number of programs, according to K. Ravi, the senior vice president of FKCCI.
“We have been advising traders to use digital payment methods and bringing in different companies and speakers to conduct interactive sessions to train the traders,” said Mr. Ravi.
FKCCI is also in talks with the digital payments company, Paytm to conduct a training session next week to address APMC traders and other unorganized sector players to make them understand how to transact digitally.
However, Mr. Ravi also said that, the traders’ mindset needs to change in order to better manage the situation.
