Out of work daily wagers now queue up to exchange notes for the rich

Many businessmen across the country are hiring people to line up outside banks to exchange money for them. The rental to exchange this unaccounted money is a mere Rs 20 to Rs 50.

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Delays, inconveniences even deaths have been reported due to long lines outside banks across the country. If you thought the long lines outside ATMs and Banks reflect the government's lack of preparedness over Demonetisation, think again.

[Also Read: Demonetisation: Here are RBI's guidelines on indelible ink]

Many businessmen across the country are hiring people to line up outside banks to exchange money for them. The rental to exchange this unaccounted money is a mere Rs 20 to Rs 50. Daily wage workers who have gone out of work due to demonetisation are being largely used to queue up outside banks to exchange someone else's money day in and day out.

bank

The government introduced the idea of indelible ink to curb this particular menace. The move was also aimed at encouraging people to deposit money once for all and withdraw as required but largely to curb exchange of unaccounted money through channels like these.

[Also Read: Banks still grapple with huge rush, most ATMs run dry]

By hiring people to exchange cash multiple times in multiple banks not only is unaccounted money being exchanged for new curency notes but is also adding to common man's wit at the bank. In this attempt to launder money, those hiring people are causing massive inconvenience to an average citizen trying to transact.

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