Small Traders  

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  • India14, May 2020, 6:10 PM

    Nirmala Sitharaman announces Rs 30,000 cr additional emergency fund for farmers, free food grains to migrants

    Finance minister Nirmala Sitharaman announced the next set of measures under the Atmanirbhar Bharat Abhiyan
     

  • 11, Nov 2016, 9:22 AM

    Currency ban: Daily wage-earners, small traders, domestic help worst hit

     

    No cash on ATMs? Long queues outside banks? No change in petrol pumps? Post office locations not known? If you are facing one of these problems, take a moment to think about your domestic help and the migrant construction workers who have suddenly become penniless overnight. 

     

    In vast Indian demography, 90% financial takes place offline and about more than half the population do not own a bank account, the irony is many even don't have identification proof to open a bank account. Interestingly, many having bank accounts are not used to or comfortable with online transactions and use of plastic money. 

     

    The lower income group of the Indian society comprising daily wage-earners, labourers, construction workers, child labours, domestics help whose only means of survival is some cash in hand is the worst affected population of the country right now. 

     

    These are the people who are not even the topic of conversation at the moment due to lack of media and social media exposure. 

     

    At the moment, dining is a big place is easier than getting a product or service from roadside eateries, stalls or small traders. 

     

    Also, the remotely located population away from an ATM and gold purchase is a big decision also suffered hugely from this currency ban. Many, in fact, realised that their cash is just paper the next morning on Wednesday when the ATMs were already shut and no other means were easily accessible.