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| Meet the 'money mules' of India's cash crisis | Meet the 'money mules' of India's cash crisis |
| (about 2 hours later) | |
| The Indian government's surprise decision to ban 500 and 1,000 rupee notes overnight in a crackdown on corruption, has impacted 86% of the money circulating in the country's largely cash economy. But some enterprising Indians are seeing opportunity amid this cash crisis, reports the BBC's Vikas Pandey. | The Indian government's surprise decision to ban 500 and 1,000 rupee notes overnight in a crackdown on corruption, has impacted 86% of the money circulating in the country's largely cash economy. But some enterprising Indians are seeing opportunity amid this cash crisis, reports the BBC's Vikas Pandey. |
| "Are you looking to make your money legal?" a young man says, approaching me as I walk to a bank in Noida, a suburban area of Delhi. | "Are you looking to make your money legal?" a young man says, approaching me as I walk to a bank in Noida, a suburban area of Delhi. |
| "It's very easy and we can finish our transaction right here, now are you interested?" | "It's very easy and we can finish our transaction right here, now are you interested?" |
| Mukesh Kumar, 28, is not standing in the long queue outside the doors to the bank. | Mukesh Kumar, 28, is not standing in the long queue outside the doors to the bank. |
| He is one among many of India's 'money mules' who have found ways to benefit from the cash crunch. | He is one among many of India's 'money mules' who have found ways to benefit from the cash crunch. |
| How will India destroy 20 billion banknotes? | How will India destroy 20 billion banknotes? |
| India rupee ban: Currency move is 'bad economics' | India rupee ban: Currency move is 'bad economics' |
| Why India wiped out 86% of its cash | Why India wiped out 86% of its cash |
| India's 'desperate housewives' scramble to change secret savings | India's 'desperate housewives' scramble to change secret savings |
| How India's currency ban is hurting the poor | How India's currency ban is hurting the poor |
| India's cash crisis explained | India's cash crisis explained |
| Prime Minister Narendra Modi's surprise announcement has left many people stuck with hoards of now illegal cash, known in India as "black money". | Prime Minister Narendra Modi's surprise announcement has left many people stuck with hoards of now illegal cash, known in India as "black money". |
| Many are afraid to deposit all their money into the banks, because the government has said that unaccounted for money will attract a 200% tax penalty and an investigation into the source of income. | Many are afraid to deposit all their money into the banks, because the government has said that unaccounted for money will attract a 200% tax penalty and an investigation into the source of income. |
| But people like Mr Kumar are ready to help them. | But people like Mr Kumar are ready to help them. |
| "The government has said no questions will be asked if my account balance is less than 250,000 rupees (£2,947; $3,664). I can deposit your 'black money' into my account. I will charge 10% and give you back the remaining amount after a few weeks," he tells me earnestly. | |
| Mr Kumar, a construction worker, says he doesn't mind people calling him "a money mule". | Mr Kumar, a construction worker, says he doesn't mind people calling him "a money mule". |
| "You can call me whatever you want as long as I can make some cash." | "You can call me whatever you want as long as I can make some cash." |
| 'Hire a queue man' | 'Hire a queue man' |
| Long queues have become a familiar sight in front of ATMs and banks as people struggle to withdraw money. | Long queues have become a familiar sight in front of ATMs and banks as people struggle to withdraw money. |
| Indians have been allowed to exchange a small sum of banned notes into legal tender until 24 November as long as they produce an ID. This amount was reduced from a total of 4,500 rupees to 2,000 rupees on 17 November. Anything above this needs to be credited to a bank account. | Indians have been allowed to exchange a small sum of banned notes into legal tender until 24 November as long as they produce an ID. This amount was reduced from a total of 4,500 rupees to 2,000 rupees on 17 November. Anything above this needs to be credited to a bank account. |
| I meet more workers in Noida, which has hundreds of construction sites. And they are all looking to cash in on the situation. | I meet more workers in Noida, which has hundreds of construction sites. And they are all looking to cash in on the situation. |
| Sandeep Sahu tells me he is happy to stand in queues to change banned notes for a commission of 200-300 rupees . | Sandeep Sahu tells me he is happy to stand in queues to change banned notes for a commission of 200-300 rupees . |
| "It's tiring to stand in queues for six to eight hours for somebody else, but then its better than doing backbreaking construction work," he says. | "It's tiring to stand in queues for six to eight hours for somebody else, but then its better than doing backbreaking construction work," he says. |
| Mr Sahu says "rich people don't have the patience to stand in lines" and that is why "they are happy to give us a commission". | Mr Sahu says "rich people don't have the patience to stand in lines" and that is why "they are happy to give us a commission". |
| "My wife and my son are doing the same job, and together we have made a good amount," he says. | "My wife and my son are doing the same job, and together we have made a good amount," he says. |
| 'Rent an account' | 'Rent an account' |
| At another bank, I meet Pinku Yadav, who says that he has found a "customer to rent his bank account". | At another bank, I meet Pinku Yadav, who says that he has found a "customer to rent his bank account". |
| "I am going to deposit 200,000 rupees into my account for somebody else for a commission of 20%," he says. | "I am going to deposit 200,000 rupees into my account for somebody else for a commission of 20%," he says. |
| Pointing at his bag, Mr Yadav says that he had never seen such a large amount of money in his entire life. | Pointing at his bag, Mr Yadav says that he had never seen such a large amount of money in his entire life. |
| "I support Prime Minister [Narendra] Modi's decision. It's satisfying to see the troubled faces of rich people." | "I support Prime Minister [Narendra] Modi's decision. It's satisfying to see the troubled faces of rich people." |
| Mr Sahu's statement is quickly met with loud cheers from others standing in the queue. | Mr Sahu's statement is quickly met with loud cheers from others standing in the queue. |
| I ask him if he knows that what he is doing is illegal. | I ask him if he knows that what he is doing is illegal. |
| "Yes, I know and I don't care," he says. | "Yes, I know and I don't care," he says. |
| "The government is not going to go after poor people like me. I am just making a small amount, rich people are the ones who are crying because their money has become illegal." | "The government is not going to go after poor people like me. I am just making a small amount, rich people are the ones who are crying because their money has become illegal." |
| It's 12:30 [local time] in the afternoon and queues have only become longer. Some people are eating lunch from boxes they brought with them in the morning. | It's 12:30 [local time] in the afternoon and queues have only become longer. Some people are eating lunch from boxes they brought with them in the morning. |
| Praveen Singh works as a production manager in a garment factory, and he is also waiting to deposit 2,50,000 rupees in his bank account. | Praveen Singh works as a production manager in a garment factory, and he is also waiting to deposit 2,50,000 rupees in his bank account. |
| "Yes, it's not my money. I am doing this for my boss. He has always been nice to me, and has helped me financially on many occasions," he says. | "Yes, it's not my money. I am doing this for my boss. He has always been nice to me, and has helped me financially on many occasions," he says. |
| "I don't see this as a fight between rich and poor people. Given a choice, everybody wants to avoid paying taxes. That's what the government needs to change and encourage people to pay taxes." | "I don't see this as a fight between rich and poor people. Given a choice, everybody wants to avoid paying taxes. That's what the government needs to change and encourage people to pay taxes." |
| *All names have been changed | *All names have been changed |