Mon, Dec 5, 2016 | updated 06:06 PM IST

Demonetisation impacts sales at Hyderabad's popular biryani restaurants

Updated: Nov 23, 2016 08:36 IST

Hyderabad [India], Nov. 23 (ANI): Demonitisation has impacted the spending habits of consumers, and one such effect can be seen at the popular biryani restaurants in Hyderabad.

Most biryani outlets here such as the popular New Paradise Restaurant have stopped accepting currency notes of Rs.500 and Rs.1000, and often also say they don't have change for the newly proffered Rs.2000 currency note.

"Customers are coming with Rs.2000 note, from where do we arrange change? Our business has been terribly hit by this currency ban," said Saleem, a restaurant manager.

Customers on the other hand say they are ready to sacrifice their appetites for the sake of the nation.

"The government has taken a decision keeping the best interests of the nation. We support the decision taken by our Prime Minister. We can eat biryanis whenever we want, but demonetisation is necessary," said Murli, a customer.

The Centre on Tuesday constituted a committee comprising additional secretaries, joint secretaries and directors to review the implementation status of its recent decision to scrap 500 and 1000 rupee currency notes.

The Finance Ministry in a release said, the committee will visit all states and union territories and submit its report by November 25.

The committee will submit a report on the general outlook and challenges arising out of implementation of the scheme.

The team will also check the currency availability across a network of bank branches, ATMs and post offices.

It will assess the facilities available at bank branches and post offices for deposit, withdrawal and exchange of currency.

The committee will also check the impact of the decision on various segments, including households, agriculturists, wage earners, traders, transportation, industries, informal sectors and small business. (ANI)