PM Modi Is In A Great Shock As Black Money Holders Opted For This Method

The decision of demonetizing Rs. 500 and Rs. 1,000 currency notes by the Modi government is definitely a big decision which will help in controlling black money and other anti-national activities; however, at present, it has become a problem for many people and there are also some who are taking advantage of the situation.

In Old Delhi, a number of money exchangers who used to exchange damaged and dirty currency notes with notes in good condition seem to be the biggest beneficiaries in the present scenario. They are paying just Rs. 3,000 in exchange of Rs. 5,000 (notes of Rs. 500 and Rs. 1,000). Yes, you read it right!

Those people who reached Delhi this morning from other states are targeted by these money exchangers. Indiatimes talked to some of the travelers who have fallen prey to these money exchangers. For example, Mukesh Kumar came to Delhi from Katihar, Bihar with 14 notes of Rs. 500 and as he reached the auto stand to take an auto, the first question that auto driver asked was, ‘Do you have 100-rupee notes?’

Mukesh was not able to take that auto as he told, “Except for a few notes of Rs 10 and some coins, I had 14 notes of Rs 500.”

Mukesh was advised from another auto driver to visit a money exchanger and he took him to Matia Mahal which is just opposite to gate number1 of Jama Masjid, where he saw many small stalls of money exchangers. Mukesh told, “In return for Rs 7,000, I got only Rs 5,000 in the denomination of Rs 100 and Rs 50. It is a huge loss for me.”

There are many others who faced similar situation, such as Ishtiyaq who is from Ballimaran, his son was sick and he faced problem in providing him medicines and treatment. Here’s what he told,

“My five-year-old son is suffering from high fever. I took him to a doctor where I had to pay his fees and medicines costs. I had two notes of Rs 1,000 and three currency notes of Rs 500. Since all banks are closed and ATM running out of money, I had to get them changed at a lower amount. I was given only Rs 2,000 for Rs 3,500.”

A correspondent of Indiatimes made a visit to several stalls that are providing the facility of exchanging damaged money and to the utter surprise, the information turned out to be true!

One stall had a handwritten sticker which read, “Rs 500 aur Rs 1,000 ke note nahin hain” (Rs 500 and Rs 1,000 currency notes are not available here).”

However, there was one more stall in which a young guy agreed for exchanging notes of Rs 1,000 and Rs 500 on the amount of his own choice with absolutely no bargaining.

Here’s the conversation which took place between Indiatimes and him:

Correspondent: Bhai, 500 ke note change ho jayenge (Brother, will the currency notes of Rs 500 denomination be changed with the valid one)?

Reply: Kitne hain (How many notes you have)?

Correspondent: 500 ke 10 (Ten notes of Rs 500).

Reply: 500 ke 10 matlab 5,000…ho jayega. 3,000 milenge (Ten banknotes of Rs 500, it means you have Rs 5,000…it will be done. You will get Rs 3,000).

Correspondent: Sir 3,000…? (Rs 3,000 only….?)

Reply: Haan…500 aur 1,000 ke note ka kaam ho chuka hai…ab iska koi value nahin hai…main jo de raha hun woh bhi zyada hai…(Yes…Rs 500 and Rs 1000 bank notes have been banned. Now, they are invalid…whatever I am offering is too more than enough).

People even tried to buy gold during this period and jewelers availed themselves of the situation, as the price of gold exceeded from Rs 30,000 per 10gm to Rs 37,000-Rs 48,000 per 10gm.

Have you come across such incidents around you or in your city? Share with us in the comments section below.

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