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  India   All India  03 Dec 2016  Old Lucknow banks on barter to beat cash blues

Old Lucknow banks on barter to beat cash blues

THE ASIAN AGE. | AMITA VERMA
Published : Dec 3, 2016, 1:49 am IST
Updated : Dec 3, 2016, 6:38 am IST

Fresh vegetables are being exchanged for spices and bakery products can be had in return for flour.

The newly-issued Rs 500 notes.
 The newly-issued Rs 500 notes.

Lucknow: The old city in Lucknow has gone back to the old days. With cash crunch staring in the face, small traders are now resorting to the barter system in old parts of the state capital.

Fresh vegetables are being exchanged for spices and bakery products can be had in return for flour.

 

“People do not have the cash to buy vegetables and we need to sell out perishable items so we have hit upon this idea. For two kilograms of potato, we get 200 ml of mustard oil which is needed for cooking. Similarly if you give one kilogram of flour, you can get two loaves of bread in return,” said Zaheer, a vegetable-seller in Nakkhas area.

Razi, a retailer in Kaiserbagh vegetable market, said that they had developed an exchange system about ten days ago for their own survival.

“Each of us needs a number of edible and non-edible items for survival and since there is a cash crunch, we other decided to create a system by evaluating our goods and exchange them till things normalise,” he said, adding that things like stationary , school books and other items were being included in the barter system.

 

He said that even laundry workers and garment sellers were joining in the system. For instance, a man recently exchanged clothes for 25 kg rice and 4 kg of pulses.

“It may sound primitive but the system has started working. The rickshaw-puller who takes my children to school has also agreed to accept grocery items instead of cash,” said Razi and added that they may continue with the system even after the cash crunch eases.

Tags: cash crunch, vegetables, demonetisation
Location: India, Uttar Pradesh, Lucknow