Tamilians watch-out: TASMACs to no longer accept banned notes
- Reports suggest that this drive has not stopped the bar owners from accepting the banned ₹500 and ₹1000 notes.
- 20 TASMAC stores have been identified where the old notes were used even after 9 November.
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The Tamil Nadu State Marketing Corporation (TASMAC) salesmen accepting the banned currencies have been identified and charge-memos have been issued against them to prevent bar owners from accepting banned ₹500 and ₹1000.
Interestingly, reports suggest that this drive has not stopped the bar owners from accepting the banned ₹500 and ₹1000 notes while selling liquor.
Across Chennai, 20 TASMAC stores have been identified where the old notes were used even after 9 November. In the rest 31 districts of Tamil Nadu, there are as many as 6,323 liquor outlets where similar cases have been identified.
As per the current arrangement, TASMAC shops are supposed to remit their day's collection by the morning of next day in all the districts except Chennai. In Chennai, there is a cash management services firm that collects the cash on a daily basis.
Both the system requires the denominations to be filled up while remitting the money to trace the source of the cash.
TASMAC District Managers via supervisors issued the instruction barring the acceptance of banned notes on 9 November.
After the announcement of demonetisation, a lot of people were left with banned notes and the only place where the notes could be used were bars attached to the TASMAC stores. As many people are into jobs and professions that do not leave them any time to visit ATMs and banks for currency exchange, these government-run liquor shops were the easy way to use their banned notes.
