Hi guest, Register | Login | Contact Us
Welcome to Phayul.com - Our News Your Views
Wed 21, Mar 2018 02:30 PM (IST)
Search:     powered by Google
Photo News
Statements &
Press Releases

Book Reviews
Movie Reviews
News Discussions
News Archives
Download photos from Tibet
 Latest Stories
Noted writer Shokjang released after three years in Chinese prison
March commemorating 60 years since Dalai Lama’s arrival in India begins in Arunachal
Dalai Lama speaks at the Association of Indian Universities' meet in Varanasi
Protestors demand impeachment of President Sangay, MP Yarphel
Dalai Lama to attend CTA’s ‘thank you India’ event in Dharamshala
Two monks detained on unknown charges, one freed in eastern Tibet’s Sershul
Exile Tibetan Parliament begins session to discuss 2017-18 budget
Tibetan NGO’s hold rally on the 10th anniversary of the 2008 Pan-Tibet uprising
Formalities and functions not important: Dalai Lama on India's CTA event snub
Tibetan Singer Sonam Topden eliminated from singing reality show
 Latest Photo News
His Holiness the Dalai Lama leaves for Gaggal airport, March 17, 2018. He would be attending the first Convocation of the Central University of Jammu (CUJ) on Sunday.
His Holiness the Dalai Lama looks at a picture of his former home, the Potala palace, in Drepung Monastery, Dec 14, 2017, Phayul Photo/Geleck Palsang
Tibetans participate in a candle light vigil to mourn the passing away of Chinese activist Liu Xiaobo in China, TCV Day School, July 14, 2017 Phayul Photo: Kunsang Gashon
more photos »
Tibetan sweater sellers among worst hit due to Modi's demonetization
[Wednesday, November 16, 2016 17:39]
Tibetan sweater market in Udiapur wearing a deserted look/Phayul Photo
Tibetan sweater market in Udiapur wearing a deserted look/Phayul Photo
DHARAMSHALA, Nov. 16: The demonetization of 500 and 1000 rupee notes have taken the toll on retail businesses all over the country including the Tibetan sweater sellers who depend on seasonal business of winter garments in different cities of India.

Wearing a deserted look with less footfall and minimal business activities in most of the Tibetan markets, traders also complain that the prevailing warm condition through out the northern part of India is adding to their woes.

“It is a big problem for us. If we accept the demonetized currencies, it is illegal, but on the other hand if we don’t then there is no business. Customers have only old notes and we are not able to take them.” said Tenzin Mingey, a sweater seller in Palanpur, Gujurat.

He also added that the Tibetan sweater markets in Lucknow and Kanpur are also facing the same problem.

Tenzin Khechok, doing business in Bareilly, UP, also expressed similar desperation. He said people are watching them closely so accepting the old currency clandestinely is also out of question.

“Initially, the business started okay, but suddenly this (demonetization) happened and the weather also started getting warm, “ he regretted.

With only limited amount allotted for an individual at banks and ATMs, the trader stated that the customers, because of the limit on daily withdrawals use it economically to fulfill their basic requirements.

According to the Confederation of All India Traders (CAIT), since the demonetization trade in markets across the country has reduced to 25 percent in comparison to normal days.

However, online retailers are having a boom time with shortage of cash in the market, many have been using netbanking, credit and debit cards to buy groceries and other necessities.

The demonetization of 500 and 1000 banknotes was a step taken by the Modi Administration on 8 November to combat black money. The government has given till December 30 to exchange or deposit the old series causing long queues outside the banks and post offices all over the country.
Print Send Bookmark and Share
  Readers' Comments »
Be the first to comment on this article

 Other Stories
Tibetan sweater sellers among worst hit due to Modi's demonetization
Investigation, logic the way forward for Buddhists, not just chanting :Dalai Lama
Hong Kong Court disqualifies two Pro Independence Legislatives-elect
Photo Galleries
Phayul.com does not endorse the advertisements placed on the site. It does not have any control over the google ads. Please send the URL of the ads if found objectionable to editor@phayul.com
Copyright © 2004-2018 Phayul.com   feedback | advertise | contact us
Powered by Lateng Online