Famous jewellers in the national capital are selling gold at higher prices compared to the market rate in exchange for Rs 2,000 banknotes.
Since the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 currency notes, there were speculations about black money being converted into white. The central bank, however, announced to exchange of Rs 2,000 notes starting on May 23 till September 30. However, some people in Delhi tried to convert their black money into white by purchasing gold jewellery at higher prices.
What's shocking is the fact that this black-into-white-money operation is being carried out at the top-ranked jeweller's showrooms. Zee News conducted a stint operation called 'Operation Pink' which exposed the truth of the black business of converting 'pink notes' into golden by these retail chains.
Famous jewellers in the national capital are selling gold at higher prices compared to the market rate in exchange for Rs 2,000 banknotes. The extra price for buying gold with Rs 2,000 notes varies in different locations. Gold traders like PP Jewellers and Tribhovandas Bhimji Zaveri were found involved in the illegal exchange of the Rs 2,000 notes.
It was revealed in the stint operation, that jewellers are charging up to Rs 70,000 per 10 grams if the gold is bought in cash with Rs 2,000 notes. However, the current gold rates are around Rs 63,000 per 10 grams. The code word of the two thousand rupee note is 'pink'. Operation Pink also revealed that gold coin is the most demanded item by those seeking to exchange Rs 2,000 notes.
The Rs 2,000 currency notes were issued in 2016 days after the central government's announced demonetisation banning old Rs 500 and Rs 1,000 currency notes. But the decision to withdraw the Rs 2,000 notes from the market has become a golden chance for the jewellers.
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 "Operation Pink: Big jewellers in Delhi facilitating exchange of Rs 2,000 notes, here's how")
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