Ever meditated what happened to the 18 billion memoranda worth more than Rs 14 lakh crore, accounting for about 86 percent of country’s total fund in circulation, which is now being voided following last year’s demonetisation? It was indeed one of India’s boldest plan experiments ever. Soon after the announcement, intellectuals and specialists in India threw the graduation, while the public at large was gung-ho about the move.
Well, here is your answer. After being checked, sorted, shredded and recycled, they were sent to a factory in North Malabar region of Kerala- where it was further pressed into pulp to make something charged with 28 percent GST- hardboard. The government deemed to be as a safe method to drop old greenbacks as conventional methods of charring by incineration and using it in landfills, may prove to be disastrous to the environment. The RBI shreds soiled and mutilated documents on regular basis.
” Our association with the RBI is not connected with note ban. We decided to experiment with currency observes and applied for a tender with the bank. We had our first load in October last year, even before demonetisation ,” a spokesperson of WIPL told.
Recycling marketers applied shredding machines to shred the old documents to a pulp and transform them into small briquettes. They are mostly cylindrical in shape. Briquette is described as a compressed block of any combustible biomass fabric. The choice of using the currency observes for making hardboard provide proof smart-alecky as the working paper. Used in these notes is of high-quality and they afford persuasivenes to the yield. The disabled and the elderly is likewise abysmally affected as they had to wait in the blacken hot for hours.
Established in 1945, Western India is one of the biggest wood-based industrial. Integrated composites in South-East Asia with federal employees persuasivenes of 1,200.