Kochi: An unprecedented crisis has gripped the traders in Kochi as people have shunned the shops for the third consecutive day after the scrapping of 500 and 1,000 rupee notes. The business establishments have suffered huge losses with only 10 percent sales taking place in the city now, they say. Small shops and wayside vendors are the worst hit with the people unwilling to spend the cash available with them. “I don't understand why the government has introduced only Rs 2,000 new notes which the banks are disbursing. Those who want to spend it cannot get the required change,” said Mr K.M. Mohammed Sageer, general secretary of Kerala Merchants Chamber of Commerce.
“If a shop owner gives change for Rs 2,000, he may not be able to sell anything to the next costumer unless he/she brings Rs 100 or other legal tenders,” he said. Shops in Broadway, Ernakulam market and on MG Road are remaining idle. Many vegetable dealers in Kochi have stopped taking stocks. But some wholesale shops are conducting business with card transactions. “We have registered a complaint with Finance Minister Thomas Isaac but he expressed helplessness in the matter,” Mr Sageer added.
