The government’s demonetisation drive has now come as a big blow to Rajeswari and other weavers producing beautiful saries.
“I, my mother, and father used to work all day and earn up to Rs.20,000 per month before demonetisation. Now, we do not have enough work as the entire supply chain has been affected because of cash shortage,” laments Rajeswari while talking to The Hindu even as she weaves an attractive silk sari.
Initially, they were paid in the form of scrapped notes. Now that the old currency notes are not accepted anywhere, including petrol bunks, they get their payments through online transfer from master weavers, explains her mother Shanthi.
“But the main problem is that we are unable to draw the amount deposited in our bank accounts as banks have no cash with them,” she says.
Each day, hardly 70 persons are able to withdraw cash from the bank branch here and the remaining are given tokens to come again the next day.
“Pressed hard for money to pay my son’s school fee, I have been visiting a branch of the public sector bank here for withdrawing cash for the last three days and returning home empty handed though I very much have amount in my account,” says Prakasam, another weaver.
Rashtra Chenetha Jana Samakhya President D. Veeranageswara Rao says that there has been a 50 per cent fall in the business since demonetisation.
“In the present situation, we will have no option but to down the shutters if urgent steps are not taken to infuse cash into the banking system,” adds a master weaver Pinjala Koteswara Rao, who makes payments to both raw material suppliers and weavers by way of cheque.
Though the RBI has allowed withdrawal of Rs.24,000 per week, we are able to withdraw only between Rs.4,000 and Rs.6,000 per week, that too after multiple visits to the banks, adds Koteswara Rao.
Most of the ATMs remain closed. A few ATMs that are opened run out of cash within no time, complains another weaver Kanakeswari.
“We have no other option but to buy essential commodities on credit basis with a promise to pay the grocery shop owner later,” they add.
Source: The Hindu