SRINAGAR: Braving the bone-chilling cold, thousands of people made a beeline for the banks early in the morning on Thursday to exchange the old notes amid crippling shutdowns called by the Joint Resistance Leadership of the separatists.
Bashir Ahmad boarded a Tata Sumo cab from Anantnag to reach Srinagar not realizing that his Rs 500 notes are no longer legal tender. “I had few Rs 500 notes in my pocket. My fare from Anantnag is Rs 80. When I offered a Rs 500 note to the driver, he refused saying they are not valid anymore. I later rushed to this bank to get it exchanged but the authorities asked me to deposit it in the account. I am stuck,” said Ahmad, waiting at the J&K Bank branch on Residency Road.
What has complicated the whole process is the four-month-old unrest, and the shutdowns called by the separatists. For the last four months, the markets have remained shut because of the unrest. Separatists are giving relaxation for few hours during evenings on specific days to buy and store essentials. By that time the banks are closed.
“I came from Nishat early morning to buy something. But the shopkeeper refused to take Rs 500 note. I rushed to this branch to get it exchanged. They asked be to fill the form and give Xerox copy of Adhar card or election card. All these documents are at home and there is a shutdown. It is really a pain,” said Mohammad Yaqoob.
Those hit hardest by the demonetization process is the tribal community of Gujjar and Bakerwal. They live in higher reaches, and far flung areas which are cut off from mainland for almost six months during winter.
“90 per cent of tribals do not have bank accounts. They are nomads who go from place to place. Tribals live in mountains and far flung areas which remain cut for six months. The government should have at least taken this chunk of population into consideration,” Dr Javaid Rahi, Chairperson of Tribal Research and Cultural Foundation, told a Mumbai-based newspaper.
According to Rahi, the tribal population in Jammu and Kashmir is around 15 lakh which comprise of 11.9 per cent of the total populace. “The deadline for changing notes is December 30 but most of the areas inhabited by tribals remain cut off. When they come to know about the demonetization it would be too late,” he said
Kashmir Chamber of Commerce and Industry (KCCI) said the circulation of money has further stopped by this decision. “We have been hit. We are worried now. There is no trade right now (given the unrest). Our day-to-day needs have been hit,” said Mushtaq Ahmad Wani, KCCI President.
Commissioner-Secretary of Finance, Jammu and Kashmir, Navin Kumar Choudhary said there is no dearth of currency notes of Rs 100 denomination in the banks across the state, and transactions were taking place smoothly.
Follow this link to join our WhatsApp group: Join Now
Be Part of Quality Journalism |
Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast. |
ACT NOW |
MONTHLY | Rs 100 | |
YEARLY | Rs 1000 | |
LIFETIME | Rs 10000 | |