Demonetisation dampens Christmas sales

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Allahabad, Dec 24 (ANI): Shop Owners selling Christmas articles in Allahabad sat idle as shoppers, left cash strapped post demonetisation of high-value banknotes, stayed away from markets. Liquidity crunch in the country has forced people to cut down on Christmas expenses. Shops have stocked up Christmas goodies and decorations, but customers remain elusive. A shop owner, Rakesh Kumar, said the number of customers had fallen to an unprecedented low in the last several years. Prime Minister Narendra Modi dropped a bombshell on November 8 by abolishing 500 and 1,000 rupee notes that accounted for 86 percent of cash in circulation.

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