Long queues outside ATMs and banks will be a common sight for quite some time. PM Modi’s announcement of the ban on bigger denominations has created an unintentional spending spree in the country.
While common people like us are finding legit ways to deposit our cash, money launderers are spending sleepless nights lately. Figuring out ways to cover up for their ‘earnings’ has become their mission for the time being.
Smaller amounts can easily be accounted for. But what happens when you have a shitload of unaccounted cash up your ass?
This explains why we call it ‘Black Money’.
Someone from UP took this seriously and sacks full of burnt notes were recovered from the Bareilly district on Wednesday.
According to sources, these burnt sacks were dumped by workers of a company on Parsa Kheda road at CB Ganj in Bareilly.
The police officials reported that these notes were first cut, damaged and then burnt.
This incident happened just a day after the announcement made by the government. Banks will have a busy line up for some days as more than a billion people will be queued outside to get their notes exchanged.
Jewellery and real estate sectors are expected to take a major hit by this decision. The reason being, these are the most preferred investment zones for people possessing black money.
On the contrary, mobile payment sites like PayTM and Freecharge are expected to benefit, for obvious reasons. The e-commerce sector is also likely to take a minor hit as a majority of the transactions are carried out in the cash-on-delivery mode.
As far as the madness goes, it has already begun in UP and we can surely expect many such incidents in the coming days.
Featured image source: here
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