MUMBAI: People are ready to pay a premium to buy gold with Rs 2,000 notes. Taking advantage of high demand, some jewellers are charging additional Rs 5,000 to Rs 10,000 per 10 gram of gold from buyers who want to get rid of their stash of Rs 2,000 notes.People with unaccounted cash have not much options left as the acceptability of Rs 2,000 notes has also plunged with shopkeepers and other retailer refusing to take it.
Most gold buying with Rs 2000 notes with a premium is taking place with jewellers in unorganised sector. Taking note such cases, industry bodies have already issued advisory to stay away from such practices.
“We have asked our members not to take any additional percentage, commission or charge any premium from the customers buying gold with Rs 2000 notes. Jewellers who are not our members could be doing this, but not our members. There is small number of people in every trade who are involved in unethical practices and the authorities should take strong actions against them,” B Muthu Venkatram, president, Coimbatore Jewellery Manufacturers Association told this newspaper.
“We have also issued advisory to our members regarding the information they should take from customers seeking to buy gold with Rs 2000 notes,”he added.Taking lessons from the demonetisation announced in 2016, wary jewellers’ bodies have asked their members to take utmost care while accepting Rs 2000 from customers. As a precaution, jewellers are asking identity proof of customers, their source of income, noting serial numbers of notes and even taking photos in large scale transactions.
“Members are requested not to accept Rs 2000 notes from their buyers for any premium,” said a message sent by a jewellers association to its members on whatsapp group.“If you do such transaction, take a photograph along with your buyer, take his ID proof, take his detail of income source, take a declaration to
accept any enquiry, write the serial no of the Rs 2000 notes in your tax invoice, take a declaration that no criminal or civil (case) was filed against your buyer in any court,” it added.
Meanwhile, the banks across the country began to exchange and deposit Rs 2000 notes from Tuesday. As expected, there was no rush to exchange the notes.Branches were busy with customers in the first half of the day but the crowed faded as the day progressed. Banks asked customers to fill a form to exchange the currency.