Reserve Bank of India brokers thrive 'short-changing'

HYDERABAD: Right outside the highly secured Reserve Bank of India (RBI) office at Saifabad, an illegal business activity has been thriving involving hundreds of unemployed men and women - who have taken up the role of unofficial currency vendors. Charging anywhere between 2% and 10% to exchange higher denomination notes with lower denomination ones, these brokers have monopolized the bank role dispensing change. If there were a handful of such brokers working discreetly about five years ago, it has now become a full-fledged open trading centre with more than 200 vendors jostling for space outside the bank at any given time. Each day, this bunch of brokers exchange an estimated Rs 10 lakh and sometimes even more…………………….

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