Bhopal: Exchanging Rs 2,000 Notes Turns Lucrative

Bhopal: Exchanging Rs 2,000 Notes Turns Lucrative

People paid Rs 300 to Rs 500 to stand in queue for others.

Staff ReporterUpdated: Tuesday, December 26, 2023, 12:52 AM IST
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Bhopal: Exchanging Rs 2,000 Notes Turns Lucrative | FP Photo

Bhopal (Madhya Pradesh): Exchanging Rs 2,000 denomination notes at Reserve Bank of India (RBI) regional office here has become a lucrative business for local residents. Those who stand in queue for hours, earn quick money.

People specially burqa-clad women are paid to queue up at RBI regional office to exchange Rs 2,000 notes. The asking rate for standing three to four hours in a queue is between Rs 300 and Rs 500 depending on number of currency notes to be exchanged.

Most people made to stand in queue are women and men from slums. They are paid immediately after handing over the exchanged money to the person or middleman. Mukesh Jain, vice-president of 10 Number Market Traders’ Association said, “RBI should take steps to check this practice.

Genuine people wait for hours for their turn at RBI office. It has become business for some people to earn money through commission. Mostly burqa-clad women are seen in queue.

I was in queue to get exchange but when token was distributed I was pushed in last position.” There are two options if person goes to exchange currency notes. RBI will either transfer the money in a month or will give bags of coins.

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