In the bylanes of Old Delhi, some currency exchangers are providing new notes for old for those in dire need
The demonetization drive is bringing out the positive side in some people and none more so than these Good Samaritans. Located in Old Delhi, these young men have come to the aid of many in dire need of cash.
Exchanging old denomination notes of Rs 500 and Rs 1,000 for new currency, these young men say that it is their duty to lend a hand
"Our elders have survived on this business of exchanging damaged currency notes. So how can we not help people in need at this time," asks 56-year-old Arshad Kamil, owner of an old and soiled notes exchange shop in the Kachha Bagh area of Chandni Chowk.
Sitting on his while bedroll, with a board above his shop that reads "Phate, puraane note badalne wale" (soiled and old currency exchange shop), Kamil explains the modus operandi. He receives the old notes for he provides Rs 100 and then he stands in the line to convert these old notes into new currency. This has been a lifeline for those in need, especially those with medical emergencies
Recounting one such instance, Kamil says. "A woman recently visited my shop on Sunday with three Rs 500 notes. She didn't have a bank account and was in immediate need of cash. She even showed me a prescription. I exchanged her notes with Rs 100 ones and felt really happy to have helped her."
Kamil is not the only one. Several other currency exchangers in Delhi have turned out to be saviours for people who are in need of cash. Shailendra Sharma, 59, another currency exchanger in Kachha Bagh, is one of them.
"Initially, I was a little hesitant of accepting old denomination notes of Rs 500 and Rs 1,000. But when lots of needy people approached me, I changed my views," says Sharma, who has been in the business for the past 30 years.
"Standing in queues to exchange money is not new for us. Every week on Friday we stand outside the RBI office and exchange all the old currency we have earned throughout the week. So, we don't mind helping those in need," he adds.
Incidentally, all these exchangers claim that they provide this service for little to no commission. Even before demonetization, they claim, their service did not earn them much profit. Exchanging old, soiled, and torn money for new notes, the exchangers claim the commission for their services is negligible. "We get commission of Rs 2 in exchange for Rs 10 note and Rs 10 in the exchange of a 100 rupee note and so on," Sharma says. Both he and Kamil refused to be photographed claiming that speaking about their work was enough.
However, not all exchangers approve of this policy. Some exchangers claim that they are religiously following the guidelines issued by the government and hence do not provide this exchange. "Speaking for myself I am strictly following the instructions given by the government and have stopped accepting Rs 500 and Rs 1,000 notes for exchange," said Rajkumar, another money exchanger.
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