Saturday, November 12th, 2016

Demonetisation: All India Shutdown Looms Next Week

Narada Desk | November 12, 2016 8:54 pm Print
Merchants associations in Kerala have decided to launch an indefinite strike Tuesday onwards.

As men and women and children stayed in long queues to exchange scrapped notes or to draw cash, traders across the country are reportedly set to go for strikes in the coming week as they face difficulties following the demonetisation.

Sources said merchants associations in Kerala have decided to launch an indefinite shutdown Tuesday onwards while traders in states including Telangana, Andhra Pradhesh and Delhi are preparing for similar shutdowns. On the transport front, 90 lakh trucks and 20 lakh buses may go off the roads by Monday all over India as the transport sector is facing a shortage with the banning of Rs 1000 and Rs 500 notes.

The limit of Rs 10,000 withdrawal per day and maximum of Rs 20,000 per week is minuscule and has paralysed the transport business, said the All India Motor Transport Congress in a press release. “The supply of essential commodities like milk, vegetables, fruits, medicines will get affected with immediate effect,” the statement added.

Footfall has fallen in markets and malls as a result of the move. But the huge rush and long queues at banks and ATMs continued on Saturday  as people gathered to get lower denomination currency and new notes in lieu of the now-defunct currency.

Union Finance Minister Arun Jaitley on Saturday said the government expected some rush during the initial days and assured the media the situation will improve in a few days.

Reports of deaths of senior citizens have started pouring in from all over the country, a newborn died in Mumbai since it couldn’t be placed in the incubator on time as its parents had old notes.

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