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This Business Emerged Unaffected By The Demonetisation

November 29, 2016
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Demonetisation announcement by Modi government has made Rs 500 and Rs 1,000 currency notes as a illegal tender and every commercial sector has stopped accepting it except some sectors. However, there are few places that continue to accept the demonetised notes without any hesitation.

Dance bars that are operating illegally in Mumbai and across Maharashtra have emerged unaffected by the cash crunch. These are the places where black money is dumped by several people including businessmen, gangsters and politicians.

While Rs 500 and Rs 1,000 have been replaced by the new Rs 500 and Rs 2,000 currency notes, dance bars across Mumbai and Maharashtra have created a parallel currency for themselves.

These fake notes are available at all dance bars and are being used to shower on the performers in these bars. The notes generated and developed here even have Mahatma Gandhi’s photo printed on it.

dance-bar_fake_notes

The fake notes that bears heavy resemblance to the legal tenders, interestingly has the signature of governor as Santa Clause. While the legal note of Rs 20 has ‘I promise to pay the bearer the sum of Twenty rupees’ with RBI Governor’s signature on it’. It bears signature of Governor Santa Clause from Children Bank of India. The fake currency notes began circulating in the dance bars a week after PM Modi announced demonetisation.

Despite law and enforcement, the bars were found to be operating freely.

The sting operation found out that the dancers accepted the outlawed notes and gave fake notes in return which were later showered on them. If a customer pays cash Rs 2,000 they will get parallel currency worth Rs 1,800. The customers shower these notes on the women when they dance. While 50 per cent of the notes are taken by dance bar operators, the other half of the money is given to the dancer.

Prevalence of the parallel currency in these bars have some have saved them from the perils of demonetisation that has gripped the entire nation.
Interestingly, the women dancers are paid in the old currency. Out of options, they deposit the cash to their bank accounts. All transactions happen here without bills.

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