Demonetisation: trading goes on till midnight, gold purchase remains dull

Demonetisation: trading goes on till midnight, gold purchase remains dull

Mangalore Today News Network

Mangaluru, Nov 10, 2016:Though a few jewellers traded till late on Tuesday night, many said that sales remained dull in Mangaluru on Wednesday, after Rs. 500 and Rs. 1,000 notes became invalid tender on Tuesday night.

There was a steady steam of visitors at a few jewellery units on M.G. Road and Balmatta Road that operated till around midnight on Tuesday. There were also visitors to jewellery units on Wednesday.

A marketing executive of Malabar Gold outlet on Falnir Road said that they are only accepting payments by debit cards, cheque and Rs. 100 notes. “It is our policy. We are politely sending away people coming with Rs. 500 and Rs. 1000 notes,” the executive said.

Joyalukkas adopted a similar policy. “We are clearly telling our customers that we are not dealing with Rs. 500 and Rs. 1,000 notes,” an executive of Joyalukkas unit on Falnir Road said. He said that not many customers came to the store.

A senior Customs official said that the many visits by people on Tuesday night and Wednesday to jewellery units might be because of the announcement by the Centre.

The official said that gold purchases in these units had had to be legal and ruled out hoarding of Rs. 500 and Rs. 1,000 notes by the jewellery stores.

Courtesy: The Hindu