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In Bengaluru, Cash Crunch Hurts The Peanut Festival

Amid the demonetisation-induced cash crunch, the annual groundnut festival in Bengaluru suffered losses.

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It is that time of the year when farmers from nearby villages come together and bring their groundnut harvests to the Bull temple in Basavanagudi, Bengaluru and dedicate it to Lord Basava (Bull). Also known as the groundnut festival, Kadalekai Parishe was celebrated from 26th-29th November 2016.

Amid the demonetisation-induced cash crunch, the annual groundnut festival in Bengaluru suffered losses.

Bull Temple Road is lit yet again with lights of different colours and there are vendors who have various items to sell. While there are some who sit by the roadside selling fresh and fried groundnuts, there are others who display a collection of jewelry to be sold. From earrings to anklets to blankets, the fair has a wide range of items for sale. This festival takes place every year in the Silicon Valley of India and people from different walks of life gather to celebrate this festival. There is nothing that you cannot find here, from food for the hungry stomach to lovely sculptures to decorate your homes.

Amid the demonetisation-induced cash crunch, the annual groundnut festival in Bengaluru suffered losses.
A lady hawker at the groundnuts festival in Bengaluru. (Photo: Lalrindiki Sailo)

But this time, a young man in his mid 20s, selling different kinds of blankets, waves a new Rs 2,000 note and asks another vendor for change. The other vendor replies, saying "change illa" which means “no change”. With a disappointed look, the young man hands returns the Rs 2,000 note to his customers and asks them to leave as he is unable to find change.

As a result of the demonetisation-induced cash crunch, the annual groundnut festival in Bengaluru experienced a significant dent in earnings.
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Mrs Puttathai from Chittor, a middle-aged woman selling fresh groundnuts says: “This time, there is very little that I am taking home. In previous years, people would buy my groundnuts for more than 100 rupees but this year, no one has money and all we receive are 10s and 20s." The crowd that’s gathered at the festival is huge but few are able to buy the different items that have been brought here.

"How can I give you a further discount?" says a young woman running a stall selling earrings, to the customer who’s persistent on buying the earrings at a lower price.

The hustle and bustle gets louder as the evening comes around and the vendors hope someone who has cash in his/her hand walks across and makes their day. "It's difficult, there is no cash and all I have are my cards. They don't have card readers," says Palak Khare, an employee in Mediacle.Inc. She wishes to buy groundnuts, but cannot for there are hardly any ATMs that have cash in them.

As her fingers struggle to crack the shell, Vigneshwari, a resident of Bull Temple road says, “It is a beautiful time of the year, a time that farmers look forward to. I hope demonetization doesn't mean a great loss for these local farmers who eagerly wait the whole year to sell their harvests."

Lalrindiki Sailo is a post graduate in mass communication from the University of Hyderabad and is currently employed as a Content Writer in Bangalore.
(This is a personal blog and the views expressed above are the author’s own. The Quint neither endorses nor is responsible for the same.)

Amid the demonetisation-induced cash crunch, the annual groundnut festival in Bengaluru suffered losses.

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