2 Years After Demonetisation, People Are Still Interested In Buying Useless Rs 500 Notes

One of the most notable decisions by the Narendra Modi-led BJP government is demonetisation. Two years ago, Prime Minister Modi announced that the then Rs 500 and Rs 1000 notes will no longer be applicable. Come 2018, the nostalgia over the old notes is not over yet!

If you're one of those nostalgic persons, who wants to get their hands on the old Rs 500 note, all you have to do is go on eBay and order one. Just for $6.00.

As per current conversion rates, if you spend about Rs 423, you can get yourself a brand-new old note. Which incidentally is useless today! It is being sold by an anonymous retailer who claims to be living in the United States. His page on eBay claims that he has already sold 15 pieces and has just 9 more notes left.

The phenomenon of selling discontinued currency notes on online portals first appeared in India soon after demonetisation in 2016 when a number of sellers were found selling demonetised Rs 500 and Rs 1000 currency notes on e-commerce sites such as eBay, OLX, IndiaMart and others.

As far as legality is concerned, trading any currency notes without the specific permission of the government is illegal. A search on eBay for 'Rs 500 notes' revealed 54 results, all posted by various sellers based in India and other places. The prices were sometimes as high as $130.