Small denomination notes : Sellers step in to make up for shortage

By Our Staff Reporter
IMPHAL, May 20 : Small denomination notes are an absolute necessity in Manipuri traditional or religious ceremonies from weddings to death related events and everything in between. But the catch is, small denomination notes are not always available readily.
This is where the service provided by eleven women vendors at Khwairamband Ima Leimarel Sidabi Keithel No 1 who offer a variety of denomination (Rs 10, 20, 50, 100, 200) notes to customers for a fee, becomes notable.
Speaking to The Sangai Express, vendor Asem Nirmala shared that this business of "selling" smaller denominations at Khwairamband Keithel has existed since the time of her forefathers.
According to Nirmala, customers can get a bundle of Rs 10 notes (Rs 1000) for a fee of Rs 250. This would mean that the buyer would be paying a total of Rs 1250.
Similarly, a bundle of Rs 20 notes (Rs 2000) is also available for Rs 250 while bundles of Rs 50 (Rs 5000), Rs 100 (Rs 10,000) and Rs 200 (Rs 20,000) are available for a fee of Rs 200 each.
The different denomination notes are brought to the market from places like Nagaland, Senapati, Ukhrul, Chandel, Jiribam, Churachandpur and Moreh and sold to the vendors.
During wedding season and when traditional/religious events are frequent, they earn around Rs 1000 in profit in a day. Other times, they fail to make even a single sale.
Speaking about profit, Nirmala said they only make Rs 50 after selling a bundle of Rs 10 or Rs 20 notes for a fee of Rs 250.
Stating that Rs 10 and Rs 20 notes are the most crucial for ceremonies, she noted that such smaller denominations are used in a wide range of cultural events and festivals including Ipan Thaba, Lai Haraoba, Laana Thouram etc.
Coins are also offered to deities during Umang Lai Haraoba and at other sacred sites.
During Eid, it is a custom to give money to children of your relatives.
Moreover, it is a tradition among the hill communities to place a Re 1 coin on the forehead of a deceased person.
As procuring change from banks is not always feasible, she expressed belief that the vendors at Khwairamband Keithel cropped up to bridge this gap.
The Imphal Municipal Corporation (IMC) has titled them "Senjoi Yonpham" and issued license cards, charging them a tax of Rs 110 annually.
When in a crunch, sometimes even bank officials seek out the vendors to purchase low denomination notes.
It is the same story for the general public, she said.
Sometime ago, there was a shortage of Re 1 coins, which is a necessity in religious events.
With Rs 10, you can get seven Re 1 coins, said the vendor offering customers a convenient way to get coins and smaller denomination notes.