JOIN USBengaluru liquor stores, hotels see more Rs 2,000 notes
A day after the RBI announced that Rs 2,000 notes would be withdrawn from circulation, restaurants, liquor stores and bakeries in Bengaluru saw a sudden surge in transactions in the denomination.
Establishments that didn’t see a single Rs 2,000 note for months together now have customers coming in with them.
A prominent liquor shop in Koramangala, next to Forum Mall, is seeing a steady stream of customers with Rs 2,000 from late on May 19. “We didn’t see people handing over so many Rs 2,000 notes. For bottles that cost above Rs 1,500, people are giving Rs 2,000 notes and we are accepting them,” the store manager told DH.
One of the oldest bakeries near St John’s Road, adjoining Spencer Road, that also houses a liquor and provision wing in the same enclosure, reported a surge in customers handing in Rs 2,000 notes. “We normally get 10 to 15 of Rs 2,000 notes daily, but the numbers rose to 25 after May 19. As of now, we are accepting these notes and we are likely to see an increase in the number of people walking in with Rs 2,000,” the manager said.
A prominent eatery in the CBD area that serves European and pan Asian food has had a lot of foreign customers hand in Rs 2,000 notes after the withdrawal was announced.
The owner of the eatery said, “We are accepting Rs 2,000 from our regular customers, but we have been asked not to accept these notes otherwise. This is because we will face difficulty in getting them exchanged. But yes, the rush of trying to get rid of the notes is evident.”
Confirming the surge of Rs 2,000 notes at restaurants, PC Rao, president, Bruhat Bangalore Hotels Association, noted that several service hotels in the city have seen an influx of the banknotes in just one day.
“Many service restaurants did not see even a single Rs 2,000 note for many months, but suddenly had 8 to 10 notes being used today. We must wait and see how this cash influx will reduce card swiping in the coming months, especially in bars and restaurants,” he said.