Daily wagers are willing to stand in lines outside banks to deposit the black money of hoarders.
A visit to a labour market in New Delhi is all it takes to turn black money to white, an NDTV investigation has found. Daily wagers at a labour hub like Fatehpur Beri in South Delhi are willing to stand in snaking lines outside banks to deposit the black money of hoarders in their accounts for a small cut.
NDTV visited Fatehpur Beri and asked a few labours: "How much will you charge to deposit Rs 35,000?"
Hesitant at first, a man gave us his number and insisted that we call him the following day. When NDTV urged him to share the rate for depositing Rs 35,000, the man said: "I've told you that we are simple people who need money to eat."
After much pleading, the man relented. "For Rs 35,000, a labour will charge Rs 5,000," he said.
For Rs 5,000 these daily wagers risk a jail term.
The Finance Ministry had issued a warning to all those evading tax by using other people's bank accounts to convert 'black' or unaccounted money as well as those who are allowing this abuse, saying they will be prosecuted under the Income Tax Act and could be jailed for up to seven years.
A volunteer at the State Bank of India's Jaunpur Branch, about 3 km from Fatehpur Beri, said the lines have thinned since the government started using indelible ink for demonetised currency exchange. "After the government started to use indelible ink and reduced exchange limit to Rs 2,000, lines have shrunk. People with farmhouses and godowns near by are taking advantage of the labourers to turn their money white," said the 38-year-old volunteer, Uday Ambawta.
However, there are some daily wagers who just want to deposit their day's hard-earned money in the bank.
Mohammad Idrish, a 50-year-old mason from Bihar, says he hasn't been able to take out money for eight days and is surviving on the goodwill of people around him.
"The locals from here say, he is probably standing here to get his daily wage. That he is employed by someone (to deposit black money). Even when we are standing for own work they say this. I know about 50 people here and none of them have resorted to such acts," Mr Idrish said.
But for every Mr Idrish, there are many more who want to earn a quick buck. They don't seem worried by the repercussions.