Newmai News Network Imphal | November 16 At Imphal’s historic Khwairamband Keithel market, some 'money dealers' are making huge profits by providing lower denominations for the demonetised 500 and 1000 rupee notes. Taking advantage of the mad rush to dispose the demonetised notes, these money dealers are providing change at the rate of Rs 200 per Rs 1000 note for those who do not want to stand in the long serpentine queues of banks and post offices. A vendor informed that their sale proceeds reached up to Rs 20,000 per day. With the Central Government extending the last date for transaction of the demonetized Rs. 500 and 1000 notes to November 24 midnight, a few shops at Paona bazaar near Khwairamband Keithel continue to accept the old Rs 500 and Rs 1000 notes. According to a local newspaper, some six-seven traders dealing in exchange made brisk business yesterday at the Khwairamband Keithel which is now looking desolate since the Narendra Modi government scrapped the Rs 500 and 1000 notes on November 8 midnight. According to another report on The Sangai Express, an Imphal based daily newspaper, each dealer can earn Rs 20,000 per day by selling Rs 100 notes. Even though banks here close early leaving many in frustration, these 'money dealers' seemingly have unlimited bundles of Rs 100 currency notes. The government authorities appear to be neglecting the illegal practice of exchange money being done at the state’s largest market place in the heart of Imphal. Aside from the cash crunch gripping the state, people here are facing acute shortage of consumer goods and fuel due to the ongoing indefinite economic blockade called by the United Naga Council (UNC) along the two important highways linking Manipur with rest of the country over the plan of the Manipur government to convert Sadar Hills and Jiribam into full-fledged revenue districts. Price of petrol has touched Rs 350 per litre. Prices of other essential consumer items have reached unprecedented levels in the blockade-hit state.
