Traders adopt novel way for business deals

IMPHAL, August 3: Starved by the inadequate supply of small denomination notes and coins, traders in Manipur have adopted a novel way to continue their daily business transactions by issuing objects of their own sweet will in place of coins or small denomination notes. However, for any tourist, either domestic or foreign, it is a matter of surprise when he or she is offered a few pieces of toffees or match boxes in lieu of changes. A trader said a parallel economies running in Manipur following the failure of the Reserve Bank of India to supply adequate currencies from its Guwahati office. When contacted, state Bank of India's officials here said that lifting of currency notes and coins from Guwahati had been hampered owing to lack security. Since RBI had restricted printing and issue of notes up to certain denominations, the Guwahati office is handicapped to dispatch currencies without proper security to areas it serves, officials said. While demands for opening a branch of RBI in Manipur was mounting, the Centre was still noncommittal to similar demands from other Northeast states.