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Rs 2000 Currency Notes in Black Market
By: Tupaki Desk | 16 Nov 2016 10:53 AM IST
Post the currency ban, Black Money holders and Middlemen have found out various ways to minimize the damage and gain good returns in exchange of old notes. In cities such as Hyderabad, Vijayawada, Guntur, Anantapur and Kurnool, Illegal trading of new Rs 2000 is in full swing. Duplicate Documents were created by bank officials for the black marketing.
Bankers have been directly involved in this illegal activity. In Hyderabad alone, Enquiry has been ordered against 24 higher officials. Action has been taken against 13 bank officials in Vijayawada, Guntur and Kurnool. Recently, Two Bank Employees were suspended and cases had been booked for trying to misusing the new currency.
Reserve Bank of India enquired about the malpractice and taken necessary steps to prevent black marketing of the Rs 2000 notes. The commission for exchange of old currency is as huge as 40%. A chief manager of Government Bank in Jubilee Hills offered Rs 2.5 crore new currency to a Realtor on 25% commission.
Bankers have been directly involved in this illegal activity. In Hyderabad alone, Enquiry has been ordered against 24 higher officials. Action has been taken against 13 bank officials in Vijayawada, Guntur and Kurnool. Recently, Two Bank Employees were suspended and cases had been booked for trying to misusing the new currency.
Reserve Bank of India enquired about the malpractice and taken necessary steps to prevent black marketing of the Rs 2000 notes. The commission for exchange of old currency is as huge as 40%. A chief manager of Government Bank in Jubilee Hills offered Rs 2.5 crore new currency to a Realtor on 25% commission.