4 ms·
If notes are not legal and you do not want to pay penalty then you can sell them to scrap dealer. The current rate is Rs 8/kg.
by virtuabhi 10y ago
If notes are not legal and you do not want to pay penalty then you can sell them to scrap dealer. The current rate is Rs 8/kg.
- jjawssd 10y agoI am not satisfied with this answer. I want to know if there is a real black market for these notes.
- bandrami 10y agoThat would essentially be a betting market on whether Modi is going to back down on this or not. I'd assume there is some dude in Dongri who will buy them at a discount in hope of hitting it big, but I haven't heard of an actual "black market" in the normal sense of that word, because most people seem to think the government's going to stick with it.
- bandrami 10y agoI spoke too soon: an economist[1] reports there is a black market with a discount rate of about 20%. [1] https://www.alt-m.org/2016/11/28/indias-currency-cancellation-seigniorage-and-cantillon-effects/ https://www.alt-m.org/2016/11/28/indias-currency-cancellatio...