Operation Pink: Zee Sting Operation Reveals Big Jewellers Facilitating Exchange Of Rs 2,000 Bank Notes

The Reserve Bank of India on May 19 introduced the withdrawal of Rs 2,000 foreign money notes from the market. The alternate of Rs 2,000 notes began on May 23 and since then, there was hypothesis about black cash being transformed into white by folks. The Zee News’s ‘Operation Pink’ has now uncovered the massive black cash operations being carried out within the nationwide capital by top-ranked jewellers. Just prefer it occurred within the yr 2016 after demonetisation, Rs 2,000 foreign money notes are being transformed into white by unlawful means. 

Famous jewellers are promoting gold at greater costs in comparison with the market price in alternate for Rs 2,000 banknotes. Gold merchants like PP Jewellers and Tribhovandas Bhimji Zaveri had been discovered concerned within the unlawful alternate of the Rs 2,000 notes. The Zee News’ ‘Operation Pink’ uncovered the reality of the black enterprise of changing ‘pink notes’ into golden by these retail chains. 

According to the sting operation, whereas the present gold charges are round Rs 63,000 per 10 grams, the jewellers are charging as much as Rs 70,000 per 10 grams if the gold is purchased in money utilizing Rs 2,000 notes. 

Zee Media reporter Abhishek Kumar posed as a buyer and reached the showrooms of those jewellers to show their black cash commerce. The Zee News sting operation revealed the next key particulars:

* The code phrase of the 2 thousand rupee observe is ‘pink’.

* Gold charges are totally different from card funds. But the speed of gold will increase when fee is made in Rs 2,000 notes.

* Gold coin is probably the most demanded merchandise by these looking for to alternate Rs 2,000 notes.

* Jewelers have a setting with the banks that permits them to deposit Rs 2,000 notes with none file.

The sting operation has revealed that the federal government’s resolution to withdraw the Rs 2,000 observe from the market has change into a golden probability for the jewellers. This additionally exhibits that the jewellers have glorified the enterprise of changing black cash into white within the guise of Rs 2,000 notes. The jewellers are additionally offering a assure that they will not let the shopper get caught. 

This is going on proper underneath the nostril of the federal government, simply inside a 20 km radius of Parliament and the RBI workplace. The Zee News investigation revealed that many jewellers are changing the black cash of Rs 2,000 notes into white with none concern. The Rs 2,000 foreign money notes had been issued in 2016 following the central authorities’s resolution to demonetize the outdated Rs 500 and Rs 1,000 foreign money notes.