Demonetisation Aftereffects: TASMAC Sales Dip

By Vanshika Sood and Debanu Das

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Chennai: The recent demonetisation move by the government has affected  Tamil Nadu State Marketing Corporation (TASMAC)  as its retail liquor outlets across the the city are reporting falling sales. The government has ordered the liquor outlets not to accept 500 and 1000 rupees notes.

The demonetisation effect has left a lot of wage earners without enough money. The regular customers  do not always have the enough change to purchase the liquor. Many of them do not yet have 2000 rupees notes. However, those who do bring in 2000 rupees notes often get denied of their drinks as the shops sometimes do not have enough lower denomination notes for change.

An employee of a TASMAC outlet at the Gokul Arcade, Adyar said that collectors from banks do not accept the banned notes so they are forced to reject customers. According to him, his bosses fear that possessing too many old notes could lead to the collectors believing them to have black money.

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“For sales to normalise, it will take another six to seven months. There are many TASMAC shops  across the city which do not accept credit or debit cards so those businesses are being affected.  Elite TASMACs with credit card machines may not face too many problems as they have a high class clientele,” said a TASMAC licencee.

Some workers complained that they still get the banned 1000 or 500 rupees notes as their salaries but they cannot refuse payment.

“It is a big problem for me as I do not get my wages every day since the notes were banned. After the 2000 rupees notes were introduced, some shops refuse to take the money as they cannot return the change,” said a daily wage worker Murari Kumar.

TASMACs have also witnessed a change in purchases made by some of their regular customers who are now buying cheaper alcohol instead of expensive ones.

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