Small value notes pose big problem to fishermen

Following the announcement banning the high denominations, fishermen in Kanniyakumari, Thoothukudi and Rameswaram who were involved in deep sea fishing were given an  urgent call to which  return to coast.

When the catch was brought to the fish market, all the buyers, both wholesale and small scale, had only Rs.500 and Rs.1000 notes. But majority of fishermen denied the notes owing to which the catch was not sold. Only few fishermen in Thoothukudi and Kanniyakumari had sold the fish to Kerala traders on the promise of online transfer of money. Some sold small quantities by accepting Rs.500 and Rs.1,000 notes. But majority of fishermen were affected as they could neither accept the banned Rs.500 and Rs.1000 notes nor could they sell their catch. This caused huge losses, to the tune of several crores of rupees, to the fishers. 

Jones, a fishermen representative claimed, his kin at Kanniyakumari who had returned after fishing could not sell his fish and incurred a loss of Rs.1.5 to Rs 2 lakhs. The main problem was that the fishermen could not accept Rs.500 and Rs.1000 notes in large quantities as they would later face difficulties in exchanging the notes in the banks. They also do not have money to settle wages of the labourers and to pay for the boat diesel. As a result, a number of fishermen did not venture into the sea on Thursday, claimed Jones.