The demonetisation of high denomination currencies, which is intended to check black money, hawala transactions and fake currencies in India, is believed to be the step closer to make the country less dependent on cash, and increase card transactions in small retail business establishments like tea shops, saloons, kirana stores and even paan shops in the coming days, experts say.
Smaller currencies are in demand now as Rs 500 and Rs 1000 are no longer welcome for pubic transactions. Roadside shops such as tea stalls or snacks corners are finding difficult to part with liquid cash of lower denominations to customers and are hence losing business.
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