Black money is not new to us: “Wo to hota hi hai. Sir naam nahin batayenge. Johari Bazaar mein baithe hain to aap khud hi samajh sakte ho. HDFC Bank aur Johari Bazaar dono cheez aisi hain (That sure happens here. Sir, we won’t divulge the names. When are sitting in Johari Bazaar, then you can understand what it means. HDFC Bank and Johari Bazaar are like that only).” – N. Gupta
As soon as the Cobrapost journalist, masquerading as a frontman to a politician, meets K. Jain, a Personal Banker at this branch of HDFC Bank in Jaipur, she is joined by her superior, N. Gupta, Portfolio Relationship Manager/Deputy Manager.
Gupta suggests normal plans with high returns. The politician, says the journalist, wants to invest the money in three names. Would it help convert the black money into white? Jain comes up with a better idea: “Apne kuchh aise plans bhi hain jismein hum lumpsum daal sakte hain paisa … aur chhod do … maturity pe tax-free ho jayega … dus–pandrah saal ke liye. Matlab beech beech mein daal sakte hain, ek saath na daalein (We have certain plans in which we can invest some lumpsum money and then leave it, for 10–15 years, and after maturity it is tax-free. I mean you can invest in between, do not invest in one go).”
Would the money become white this way? “Bilkul … bilkul waisa hi … isiliye aapko bol rahi hun (Sure, sure that way. That is why I am telling you this),” says Jain.
What if all the money is in cash? No problem, she says: “I suggest ki jaisa apna pension plan hai … first amount aapko cheque se dena parega. Next amount aap cash se … kitna bhi aap dalte rahiye koi check nahin karega aapka. Bahut chhota amount cheque kar dijiye. 5 lakh, 5 lakh ka kar lenge. Aage hum jo payment denge … premium … wo hum cash mein. Beech beech mein daalte jayenge usi policy mein aur jab aapko maturity chahiye na toh aapke usme pension ke through aa jayega. Ye aapke paise main ek saath nahin le sakti kyunki wo government ke usmein aa jayega. Jitna ho sake utne naam se karo (I suggest, according to our pension plan, you will have to pay first amount by cheque. The next amount you can pay in cash. You can invest whatever amount you want in cash in between. Nobody will check you. Give us a cheque of a very small amount, say Rs. 5 lakh. Afterward, what premium payment you will make we will accept it in cash. Keep on investing in that policy intermittently and when it matures you will get the returns through pension. I cannot take all your money in one go for then it will come into the attention of the government. And invest in as many names as you can).”
At this point, Gupta interjects, corroborating Jain: “Pehli baar aapne cheque se lakh rupaye de diye. Agle saal aap cash jama karwa do (You pay lakh rupees the first time by cheque. From the next year you can deposit cash).”
Have they done such cash investments before? Gupta replies: “Wo to hota hi hai. Sir naam nahin batayenge. Johari Bazaar mein baithe hain to aap khud hi samajh sakte ho. HDFC Bank aur Johari Bazaar dono cheez aisi hain (That sure happens here. Sir, we won’t divulge the names. When are sitting in Johari Bazaar, then you can understand what it means. HDFC Bank and Johari Bazaar are like that only).”
