Govt Is Sending The Demonetized Rs 500 & Rs 1000 Notes To South Africa For This Hidden Reason
Demonetization, assumed as one of the most awaited moves ever made by Modi led BJP is after all, not so successful one. Though many people were caught in the following raids and cleaning procedure, the change expected in the post-procedure is not so impressive. After all, as of now, it is merely Rs 400 Crores of black-money that was triggered out from November 8th of 2016.
Many people exposed themselves after the announcement was made, but, still many old notes are there yet. Now, after all, that has happened, Government has some peculiar plans for those currency notes of Rs 500 and Rs 1000, that was declared invalid during the last year around this time, it is heard that people are now recycling them and turning them into hardboards to be used in South Africa for its elections.
According to the sources, a deal has been struck between the Reserve Bank branch based in Thiruvananthapuram and Western India Plywoods (WIP), a company headquartered in Kannur, Kerala; the invalid notes are being turned into pulp, mixed with wood pulp and made into hard boards after several steps.
Later to that, they will be being sent to South Africa where they are used as placards and hoardings in the election campaign; elections there are due for 2019. On the same, T M Bava, the general manager of WIP reportedly told the Indian Express that RBI was skeptical to burn the enormous amounts of invalid notes. It was then that the Research & Development wing of WIP came up with an innovative method that would enable proper utilization of the notes as well as not harm the environment.
As of now, around 800 tonnes of demonetized currency was received by the concerned company from the RBI’s regional office in Thiruvananthapuram. Each ton of notes is bought by WIP from the RBI for Rs 128. The entire process is undertaken at the WIP headquarters in Valapattanam in Kannur.
Coming to the details, starting with RBI sending the shredded notes to WIP, they will be then cooked at high temperature. The technique of thermomechanical pulping is used to high-quality pulp currencies.The pulp is then put into a defibrillator in which a refiner grounds the pulp material using steam. After that, it is mixed with wood pulp to make it strong enough to build into hard boards.
On the whole, the company admits that it is an innovative technique that it has undertaken.
Contrary to that, there are assumptions regarding the process, there are certain countries like Nepal in which old Indian currencies are accepted (only in some places), now, if that is same with South Africa, then there might be something fishy under the carpet.