Retailers almost stopped accepting 2000 notes due to shortage of clearance

Mumbai: Due to lack of clearance, small and big retailers have almost stopped accepting Rs 2000 notes. It is known that storekeepers are accepting notes of Rs 2000 only if the buyer makes a purchase of around Rs 2000.

After the announcement of withdrawal of Rs 2000 notes, the demand for Rs 500, Rs 200 or Rs 100 notes has increased.

"We used to accept Rs 2,000 notes in the beginning, but now we also have a shortage of Rs 500 or Rs 200 notes," said a manager of a departmental store.

If a customer purchases around Rs 2000, we accept Rs 2000 notes from him. In case of excessive loose returns we have to refuse the customer, he added.

Customers who used to pay through cards or UPI are now choosing to give Rs 2,000 notes, due to which cash payments have increased, said a hotel owner.

Small shopkeepers have even stopped accepting Rs 2000 notes as they are left with a lot of money. Some customers are giving Rs 2,000 notes after buying Rs 400-500, which is difficult for us to accept, said the grocery shop owner.

Before accepting a 2000 rupee note, we have to make sure that it is genuine.

It was also found that it is easy to exchange notes in public sector banks but private banks are reluctant or insisting people to provide details to those going to exchange notes.