I am writing this from the 12695 Trivandrum Superfast to Kerala. OK, ignore the "Superfast" part, which as with most qualifiers used by Indian Railways, does not really mean what it is supposed to mean. Given that we have the Shinkansen (Bullet Train) and TGV running at close to 300kmph in Japan and Europe respectively, calling a train that does an average speed of 60kmph (922kms in 15 hours) as Superfast is the heights of imagination. I remember taking a Shinkansen from Tokyo to a customer place some 800kms away and reaching in 3 hours. Now, that is superfast.
Anyway, coming back to topic, as is common with most Indians, an elderly gentleman is yakking away on the mobile phone. In a voice loud enough for people sitting couple cubes away to hear. Obviously we can't hear the response from the other side, but that does not matter. He is talking (shouting, would be more correct) :
I have a nice land deal available for you. It is a 68 ground plot (one ground is like 5.5 cents) and the going rate is 3 Crores per ground. Which puts the total value of the land to a little over 200 crores. I can wring a good deal for you, but make note of the non-negotiable payment terms. I need 85 crore of it (which is the Government prescribed guideline value) in the form of a Demand Draft, with the rest in cash (black).
Yes, he mentioned "black" and did not even lower his voice.
200 Crores is a lot of money. And while I don't doubt the deal per se, I doubt any sane person would go around blabbering about such money with all to hear. Especially about the tax-evasion / black-money part.
Anyway, assuming the deal was finalised at 200 crores, of which 85C was paid in the form of a DD, what about the rest of the 115C. Where would the seller stash such a lot of money ? Banks today won't take cash deposits of more than 50K. Actually even for that they will ask umpteen questions about the source of the money. So there is no way one can route it into the banking system.
So, how will one manage such a lot of money without worrying about theft/burglary etc ? Or worse, getting into the hands of the taxman ? Put it in a bank locker ? How much cash can a small locker hold ? Even assuming all the money is in the highest available 1000Rupee denomination, we are looking at 11,500 bundles of Rs1000 banknotes each. You will need many lockers.
If at all you are planning to spend it, it will take a lot of shopping before one can exhaust it. The costliest car in India today would be yours for max. 6-7C, which still leaves a lot of money. I am getting a headache just thinking about it. But then I am glad I don't have that kind of money. And the accompanying stress.
