Manipur has a market where one can buy money
Source: The Sangai Express
Imphal, October 21 2015:
If you have a fetish for crisp crunchy notes, or need them for religious rituals, like most people in Manipur do, women vendors in Ima markets will hand you as many as you need, for a price.
A group of seven or eight women from different parts of Imphal do brisk business alongside other vendors selling vegetables, fish, snacks, garments, bangles, and cosmetics at the main Ima (Mother's) market, perhaps the only market complex in the world run by women.
They lay out their wares�� crisp, unsoiled notes and prepare to haggle.
"I sell Rs 10 notes worth Rs 1,000 for Rs 1,100, Rs 20 notes worth 2,000 for 2150 and Rs 50 notes worth Rs 5000 for Rs 5,300.On an average, we sell Rs 40,000 to Rs 1,00,000 a day," said one of the vendors, who declined to reveal her name.
|
"We know it is an illegal trade and we could be arrested by the police, but who knows if our names come out in the papers" .
In the northeastern corner of the newly constructed market complex, the money vendors run their trade without any hindrance from government or bank authorities.
The authorities have chosen to look the other way.
"We know it is illegal.
But society needs unsoiled notes for religious programmes.
The new notes in the banks cannot meet the demand.
These vendors are catering to the needs of the people.
Frankly speaking, we do not know what to do," a senior Government official said.
Though all denominations are available with the vendors, the Rs 10, Rs 20 and Rs 50 notes are the most sought after denominations.
Currency is a part of Meitei rituals, including weddings, shradha ceremony, swasti puja, Ningol Chakkouba and Yaosang.
Each guest is handed a Rs 10, Rs 20 or even Rs 50 note by the host as dakshina or a token of appreciation for attending the programme.
And usually, the notes are brand new.
A woman added that she got the new notes from middlemen who bring from Kolkata, Guwahati and few friends who are working at banks in Imphal.
Not only Ima Keithel, one can find such illegal selling of brand new notes at various local markets in valley districts.
For the vendors, this is the peak time, as it is the wedding season.
"Even Ministers send their men to us during weddings of their sons or daughters or relatives.
A Minister usually buys Rs 40,000 to Rs 70,000 worth Rs 10, Rs 20 or even Rs 50 notes," a vendor said.
"We are paying them (the middlemen) Rs 105 for every Rs 100 we purchase.
We don't know from where they get the new notes.
From banks in Assam, we believe," one said.
The vendors also buy torn notes at 50 per cent of their denominations" .
For instance, for a torn note of Rs 10, the owner gets Rs 5 .
Notably, a few days back, Chief Minister Okram Ibobi inaugurated an office of the Reserve Bank of India (RBI) here at Thangmeiband Lilasing Khongnangkhong, opposite to the Manipur Legislative Assembly complex.