Black to White! Long queue at RBI to exchange Rs.2000 notes raises suspicion

Bhubaneswar: With the deadline to deposit and exchange Rs.2000 currency notes at bank branches having ended on October 7, a long queue was seen in front of Reserve Bank of India (RBI) in Bhubaneswar for last two days.

What triggered suspicion was that almost 80% to 90% of them were carrying Rs.20,000 in Rs.2,000 denomination, which is the exchange limit. It is being alleged that this is an attempt by some to convert black money into white. And the poor are only happy to be able to make a few bucks by turning up at the RBI.

On being asked by mediapersons, some people revealed that they were getting Rs.200-Rs.300 as commission for exchanging these Rs.2000 notes. However, they expressed ignorance when asked about the payer. “They will collect the amount later from us. We are doing it to feed our family,” an elderly woman said.

“We have no information about people getting paid for exchanging notes. As per norms, we are keeping necessary identity-related documents of those coming to the RBI for exchanging notes. This apart, CCTV camera has also been installed at the exchange counter,” Regional Director, RBI Bhubaneswar, Sarada Prasan Mohanty was quoted as saying.

He further informed that the RBI is receiving Rs.2000 notes worth Rs.2 crore almost every day. “We have made provision for nearly 250 persons, providing them water and other facilities, to exchange or deposit Rs.2,000 notes in their bank accounts.”