• search
For New-delhi Updates
Allow Notification  

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

|

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.

OneIndia News

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more