There\'s nothing to beat cash

There's nothing to beat cash

Geetanjali Krishna explains how earnings of local vendors dropped to almost zero in the first week of demonetisation.

Geetanjali Krishna 

Geetanjali Krishna

Last week, when I bought some fruit from a local vendor, he didn’t have change for the Rs 2,000 note I gave him. Just as he was running around to nearby vendors asking for change, another customer also handed him a Rs 2,000 for six bananas.

The vendor flatly refused. The customer noticed a faded sign on his cart which said “Paytm Accepted Here”. “I can pay you through Paytm,” he offered. The vendor snorted: “The early days of notebandi forced me to adopt Paytm”. “Within months, when it was back to business in cash, I stopped accepting ...

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First Published: Fri, February 08 2019. 20:48 IST