Rajkot society finds novel way to deal with cash crunch

Rajkot: It seems that the highly ‘inventive’ and ‘Jugaadu’ minds of Gujarati people is working overtime to find some practical solution to the cash-crunch situation caused by demonetization move.

In such an initiative the people of a society in Rajkot city have found a novel way to deal with it and especially the problem of ‘change’ caused by newly introduced Rs 2000 notes which has virtually no takers for small purchases.

In fact the residents of the Gokuldham society in Vardhman Nagar locality of the city are using coupons of Rs 50 and Rs 100 to deal with the problem. Some other societies are also reportedly copying the move.

The society management has introduced such coupons which can be used at the society run general store for small household purchases.

Chairman of the society Kantibhai Jhajharia said that the management has issued the coupons of Rs 50 and 100 with its seal and signature to provide relief to the residents. These are being used as a temporary alternative for the scanty Rs 50 and 100 notes. As most of ATM’s and banks had dispensed Rs 2000 notes, those having it are finding it difficulty to buy small items with it and also getting ‘change’ for it is very difficult. So we have introduced the coupons to sort out the problem for now.

The shop-keeper in the society, Kishan is happy with the initiative. ‘Now the society is giving me Rs 2000 notes in lieu of coupons which I use for my purchases and the residents are using the coupons for petty purchases from me. It has smoothened my business again.

A resident of the society Chandrikaben Kansariya said that the move has relieved her and other women a good deal. “Though the problem of change is still very much outside, we are relieved that with the help of the coupons we can at least buy items of day to day with great ease. It will help us cope with the crisis till the situation normalizes with fresh cash flow of lower denomination notes,’ she said.

DeshGujarat