Hyderabad: Cash and articles have always been the norm as gifts for marriages and other functions. The demonetisation of Rs 500 and Rs 1,000 notes and the acute shortage of new currency have put paid to that practice. Guests are now writing out cheques to the newly weds. The other day, the family of a bridegroom got a dozen cheques and eight demonetised Rs 500 notes as gifts. “We can’t fault the guests. They try to give whatever they have,” said Mr Surender, a relative of the bridegroom.
Mr Polisetty Chittaranjan, a trader, who was making purchases for his niece’s wedding slated for next week, said some traders were accepting cheques, but most insisted on cash. Only upmarket shops accept debit and credit cards. “We had to buy some groceries for the marriage. They wanted cash. I got Rs 96,000 in Rs 100 notes for Rs 1 lakh in old Rs 500 notes from a note changer. I did present old notes at some functions. Can’t help it,” he said.
Business establishments, which are worst hit, are back to writing cheques and giving credit to overcome the shortage of new currency. Mr Prakash Shah of Shah Enterprises in Ranigunj said they were forced to accept cheques. “Till yesterday, we accepted old notes which were put in our current account. Now, we are asking clients to either pay in the new currency or by cheque. We are accepting cheques after a long time. There is no alternative,” he said.
