Exclusive: Kadak gang is back!

The lsquokadakrsquo gang is back on the street outside the Reserve Bank of India RBI premises at Fort and they are now exchanging Rs 2000 notes which the government has removed for circulation Gang members have been blatantly operating from outside the RBI premises near Asiatic Library approaching citizens with a promise to exchange their Rs 2000 notesmdashwithout them having to stand in the long queuesmdashfor a commission of Rs 250500 per notemidday reporters Shirish Vaktania and Apoorva Agashe were at the location around 345 pm Wednesday posing as customers looking to exchange Rs 2000 notes They asked the RBI security staff about exchanging Rs 2000 notes and were told that the time to exchange the notes is from 1030 am to 3 pm Meanwhile an agent arrived at the spot and in the presence of RBI security staff told team midday that he could exchange the notes There were more than 2530 gang members including women operating at the locationWhat transpired on WednesdayhellipAgent 1 How much money do you want to exchangeReporter We have Rs 15 lakh in Rs 2000 notes But RBI will not exchange the notesAgent 1 Yes RBI will do it but you have to stand in a queue from 3 am Youll have to spend the entire day in the queueReporter Okay we dont want to spend the entire day in the queueAgent 1 We will exchange the notes and take Rs 300 commission per noteReporter No we cant give that much commission We will only give Rs 200 per noteA man getting notes exchanged from a female agentAgent 1 No we can charge you Rs 250 and thats finalReporter Its too high a rate We will come tomorrow with the notesTeam midday also met an agent behind the RBI office where more than 20 agents were present to exchange Rs 2000 notesAgent 2 womanReporter We want to exchange Rs 2000 notesAgent 2 Yes we will do it We will charge Rs 400 per noteReporter No other agents are exchanging notes for Rs 250Agent 2 We will also do it for R250 if you want This is our final rateReporter No its too high a price We will lose around R30000 out of the R15 lakh to be exchangedAgent 2 Sir this is too low a rate Last week we were exchanging notes for R500600 per noteReporter Okay we will come tomorrowAnother agent then came forwardhellipAgent 3 We will exchange the note and take only R250 sir This is our final rateReporter How will you do it Will RBI help youAgent We will have our people in the queue at night and they will exchange the notes But we will check the notes and give you lsquocrispy notesrsquo in return on the spotReporter Okay we will come tomorrowmidday carried a series of reports on the kadak gang who previously exchanged old notes for new crispy notes and charged commissions One of the gang members told midday ldquoWe have been at this place for many decades and we are doing this work without any fear We are not cheating anyone We are only taking a commissionrdquoHowever questions have been raised on how the gang obtains the new notes that are in series One source told midday that the gang also has contacts inside the RBI office who help them exchange the notesTeam midday had also visited the RBI office on December 29 and met kadak gang members It was found that the gang had deployed some boys outside the RBI office and had been exchanging notes through these boys The boys would convince potential customers to exchange notes through the gang and would lead them to the gang membersWhat transpired on December 29hellipReporter I want to exchange Rs 2000 notesAgent 1 How many notes do you haveReporter I have 10 notes of R2000 to exchangeAgent 1 We will do it for a commission of R400 per noteThe reporter then approached a second agent who struck a deal and then took him on his bike to the kadak gang members behind the RBI officeReporter I want to exchange a Rs 2000 note and the other agent is charging Rs 400 per note I have 20 notesAgent 2 Have you brought the notesReporter I have only one note right now but I will bring the other notes tomorrowAgent 2 I will exchange this note for a commission of Rs 350 if you wantThe female gang member overseeing cash stored the boot of a scooterWhat RBI sayshellipOutside the RBI office at Fort several pamphlets have been pasted with instructions on how to exchange the Rs 2000 notesTiming for exchange1030 am to 3 pmDocuments to carryCopy of Aadhar card driving licence PAN card voter ID passport NREGA cardFor up to 10 notesCarry print of Annexe 1 and submit with copy of Aadhar card in the envelope at the RBI counterFor more than 10 notesCarry copy of Aadhar card PAN card a cancelled cheque and a copy of the front page of the passbook showing details of the bank accountThe same can be submitted to the RBI by post and the amount will be deposited in the bank account within 15 days