Reporter's Diary: All pitch in to turn black into white

Families with a small stash of undeclared income (earned from legal sources) are turning to their relatives and their bank accounts, dividing the sum to fall within the guidelines specified by the RBI. Housewives, who have been squirreling away some money without their husband’s knowledge, are taking the help of their trusted friends and neighbours for this purpose – to hold on to their secret stash. Sometimes the amount that they have saved by being smart with household purchases exceeds the specified limit of Rs 2.5 lakh. 

This reporter, who has been covering the demonetisation chaos in the city, came across quite a few amusing tales of money conversion. In one case, an auditor of a well-to-do business family told his clients to marry off their daughter in order to use up old notes by throwing a lavish wedding party. In another instance, a visitor to a nationalised bank was made a priceless offer by the watchman of the building. 

The watchman offered the use of his bank account – of course, for a cut! Clearly, the money conversion game had beome a group activity where everyone pitches in for a price!