Here’s why Kashmiris are the worse victims of demonetisation

Shops in Kashmir are either offering credit to their customers or still are forced to accept old currency notes

By: News Desk |
November 14, 2016 2:35 pm

While people in various parts of the country are managing their expenses with plastic money after the ban on Rs 1000 and Rs 500 notes, it seems Kashmiris do not even have that option. Since mobile internet has been banned across the Kashmir since July, the residents there cannot even use cards and online transfer of money to tackle their expenses.

As a result, shops in Kashmir are either offering credit to their customers or still accepting old currency notes.

Reports suggest that since the buying capacity is so low due to cash crunch and without online wallets, items such as shirts and trousers are being sold for as low as Rs 10.

Internet services in the Valley have been suspended since July 8 due to the agitation of Hizbul Mujahideen terrorist Burhan Wani’s death. Landline broadband connections were restored about two months after the ban in July but there are not many subscribers to broadband services.

Watch: People throng ATMs to withdraw money post demonitisation – ANI News https://t.co/LT0Daa3ZTz #kashmirtelegraph

— KashmirTelegraph.com (@KashmirNews_KT) November 11, 2016

Also, the point of sale machines provided by banks are used on mobile internet through SIM cards. Hence, card operations in most parts of the Valley are not possible.

Prime Minister Narendra Modi had announced to ban Rs 500 and 1000 notes last Tuesday. But almost a week after the decision, people are still trying to come to terms with the demonitisation drive. Long queues are seen outside banks and ATMs.