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Online sale of bank notes gains currency
Thursday, November 24, 2016 IST
Online sale of bank notes gains currency

Currency notes of differing sections, particularly those of a particular arrangement, being sold online is nothing new. The pattern appears to have get with the administration's demonetisation work out.

While sites, including eBay and OLX, are posting notes of differed categories available to be purchased, a basic Google look hurls an aggregator site, available to be purchased in, which gives data about all arrangements accessible online on the offer of money notes. "Indian Currency Note available to be purchased in India | View 52 deals," is the thing that the pursuit appears.

A week ago, eBay ran live with a posting of R2,000 notes at an exceptional cost of R1.5 lakh. On offer was five new R2,000 notes and a free R500 note. The site still records R100, 50 and old 1,000 notes, at high costs.

The greater part of the postings are for exceptional properties of the note, which may incorporate a religious arrangement of numbers like the 786 arrangement made celebrated by on-screen character Amitabh Bachan after his film Deewar. In the motion picture, the performing artist wears identification number 786 as a dock specialist.

Notwithstanding, not everything that is available to be purchased on the locales are prized gets.

"A few people are setting up these postings online trying to hoodwink clients," Girish Veera, proprietor of Mumbai-based Oswal Antiques, told HT. "Most government-authorized closeout houses don't set up such postings. What we offer have some classical esteem in them and they have some retail esteem as well."

There are no RBI rules on such online deal. "It is not under RBI's domain to hold anybody criminally to sell any coin notes at a premium," a senior RBI official said, including, "it is an administration between two individuals and in the event that somebody needs to pay premium for a note, RBI can't do much."

The Madhya Pradesh High Court had conveyed notification to a few online commercial centers, including eBay, in July a year ago for asserted web based exchanging of Indian cash conveying "remarkable" numbers.

Whenever reached, an EBay India representative said it has dependably solicited autonomous dealers to take after arrangements from relevant laws for their postings on its site.

 
 
 
 
 

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Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST


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