Our savings are too less to open accounts’

Our savings are too less to open accounts’

“We hardly save about Rs. 2,000 every month after meeting our monthly expenditure. Why should people like us worry about demonetisation,” asks construction worker Sangamesh.

From Vijayapura, Mr. Sangamesh, who lives in Lingappyana Kadu in Mulky near Mangaluru, says demonetisation had little effect on their lives. Of the Rs. 8,000 he earned last month, Rs. 2,000 has gone towards house rent and around Rs. 3,000 towards agricultural loans and Rs. 1,000 for household expenses. He had saved Rs. 2,000 for his wife and two young children living in Vijayapura. “Put together, my savings so far is Rs. 10,000. This is not a big sum that I am keeping with me,” he says.

Mr. Sangamesh is among the many labourers from North Karnataka who work at different construction sites in Mangaluru and Udupi. They visit their native places for about two months during the sowing season and return to Mangaluru later. He was among the many who attended the camp by various banks helping residents open bank accounts.

Mr. Sangamesh’s neighbour Bheemanna, a native of Basavana Bagewadi in Vijayapura, says despite demonetisation, contractors paid wages in Rs. 500 and Rs. 1,000 notes citing lack of Rs. 100 notes. “Our regular grocery shop owner has accepted the old notes and given us ration,” he says. Bheemanna’s brother Muttappa says some mobile recharge centres have accepted the Rs. 500 note. “The only condition was that I had to agree for a recharge of Rs. 300. I did not mind this,” he said. Mr. Muttappa says some shop owners also obliged by giving them change for Rs. 500.

Vegetable seller Mumtaz (60), who runs a family of nine, says demonetisation led to poor sale of vegetables. This forced her to purchase 20 kg rice for the family on credit from the grocery shop. Two days ago she repaid the money.

Source : http://www.thehindu.com/