Authorities in Jalandhar have raised an alarm over a disturbing new trend in the city's informal economy: the illegal black marketing of ₹10 denomination currency notes. The police have received specific information about a syndicate operating in the area that is selling these essential low-value notes at a premium, exploiting the daily needs of common citizens and small vendors.
How the Illegal Operation Works
The modus operandi of the syndicate is straightforward yet brazen. According to the information received by the Jalandhar police, this group is selling bundles of ten ₹10 notes for ₹120. This means they are charging a 20% premium over the face value, effectively making a ₹20 profit on every ₹100 worth of notes sold. This activity directly contravenes the regulations set by the Reserve Bank of India (RBI), which strictly prohibits the sale or purchase of currency notes at a value different from their face value.
The police have not yet disclosed the exact scale of this operation or the identities of those involved. However, the fact that a formal alert has been issued indicates that the activity is considered organized and significant enough to disrupt local cash-based transactions. The ₹10 note remains a workhorse of daily commerce, used extensively by auto-rickshaw drivers, street vendors, small shops, and for everyday household expenses.
Impact on the Common Man and Market
This black marketing scheme disproportionately affects the lower-income segments of society who rely heavily on cash transactions and small change. For small business owners and daily wage earners, access to sufficient low-denomination notes is crucial for smooth operations. Being forced to pay a premium to obtain these notes represents an unfair and illegal tax on their livelihood.
Furthermore, such activities can indicate a deliberate attempt to create an artificial scarcity of ₹10 notes in the market. By hoarding these notes and releasing them only at a higher price, the syndicate manipulates the local cash flow. This not only causes inconvenience but also undermines public trust in the currency system. The police alert suggests concerns that this could be part of a larger pattern of financial mischief.
Authorities Call for Public Vigilance
In response to this intelligence, the Jalandhar police have urged the public to play an active role in curbing this illegal practice. Citizens have been advised to be vigilant and to immediately report any instance where they are asked to pay more than the face value for currency notes, especially of lower denominations like the ₹10 note.
The police have emphasized that obtaining currency from unauthorized sources is illegal. The public should only procure currency notes through legitimate banking channels, including bank branches, ATMs, and RBI offices. Reporting such activities is crucial for the authorities to identify, track, and dismantle the networks involved in this black market trade.
This incident in Jalandhar highlights a niche but serious form of financial crime that preys on the necessities of everyday economic life. While high-value financial fraud often grabs headlines, this case underscores how even the smallest currency note can become a tool for exploitation if systemic vigilance lapses. The investigation is ongoing as authorities work to trace the source of the hoarded notes and apprehend the individuals running this illicit operation.
