Business
The Wayanad unit of the Kerala Vyaapaari Vyavasaayi Ekopana Samithi also held a protest march to the district income tax office on Tuesday.
Image for representation/ Courtesy: Madhyamam.com

Demonetisation woes just seem to add up with each passing day. Traders shut shop on Tuesday in the Wayand district of Kerala to protest against acute currency shortage that has hit business hard.

The Wayanad unit of the Kerala Vyaapaari Vyavasaayi Ekopana Samithi also held a protest march to the district Income Tax office, demanding necessary steps to ensure that the traders did not have to face cash-crunch. 

Acute shortage of liquidity has taken a heavy toll on their business, ever since the demonetization move was announced by the Centre. 

This comes a week after the Association withdrew an indefinite strike protesting against the lack of sufficient Rs 100 notes to pay back their customers. The indefinite strike which was to begin on 15 November was called off, following the state government's appeal that a trade shutdown would worsen the public’s plight. A section of the traders were also of the opinion that the shutdown could backfire on them. 

According to the representatives of the Samithi, protest marches are now planned to be carried out to income tax offices in every district this week. 

The traders are now forced to supply goods to shop-keepers on credit, as the shop-keepers cannot refuse their customers. The shop-keepers themselves face acute shortage of Rs 100 notes to pay back shoppers who come to buy consumables or goods, with the new Rs 2000 currency note in hand.  

Speaking to The News Minute, Kerala Vyapari Vyavasayi Ekopana Samithi Kozhikode district secretary Manaf said that not only has business dwindled, but further restrictions imposed on the withdrawal limit from banks has posed more difficulties to the traders.

“As of now, Rs 50,000 is the maximum limit we can withdraw per day. On a daily basis, we (traders) deposit anywhere between Rs 3 to Rs 6 lakhs in the bank. With just Rs 50,000, we are unable to pay our workers. This has literally brought our business to a standstill,” Manaf complained.