Big notes ban opens doors for new dark businesses

goldPrime Minister Modi’s call for a ‘celebration of integrity’ through a sudden demonetization of Rs. 500 and Rs.1000 currency notes, has opened doors for new dark businesses.

Delhi Chief Minister Arvind Kejriwal today attacked Prime Minister Narendra Modi for demonetising Rs 500 and Rs 1000 notes , He said, this won’t check corruption or black money. The introduction of 2,000 rupee notes would only make life convenient to both bribe givers and takers.

The decision of PM had led to ” commission / black marketing” of the 500 and 1,000 rupee notes, with the former getting exchanged for Rs. 400 and the latter for Rs. 800 in the black market.

In Hyderabad, The black money holders thronged gold shops trying to buy gold at high rates with 500 and 1,000 rupee notes . The gold shopkeepers are selling gold at Rs. 43k – 50k per 10 grams as against the market price of Rs. 33k per 10 grams.