The state government has introduced a token system at Rythu Bazaar, benefiting both the customers and traders during the current currency crisis. The token system will help both the sellers and customers carry out their transactions slowly.
The shortage of lower denomination notes has been posing a lot of problems for people’s day to day chores. Now the token system can replace currency notes while grocery shopping at Rythu Bazaar.
The token system works in a similar manner to the card system at food courts. Customers coming in with a Rs 2000 note will be handed tokens worth the same. They can purchase goods at Rythu Bazaar in exchange of these tokens. After their shopping is done, they will be returned the balance amount and the traders will be provided with money in exchange for the tokens from the estate managers.
Security measures will be taken during the distribution of the tokens, so as to prevent misuse. The tokens can be bought for small denomination notes too, even though they were introduced for the convenience of people with Rs 2000 note. The token system will eliminate the problem of shortage of change or any misuse.
An almost similar system has already been put in place in Telangana with the Telangana State Marketing Department and Industrial Development Financial Corporation handing out tokens for a maximum of Rs 500 then, the amount for which would be deducted from their bank accounts. Tokens are handed out through ATM like machines in exchange for card swipes. With the token system there working out well, the Rythu Bazaars in Telangana will soon introduce purchase of rail, air and bus tickets and payment of bills as well.