CROSS-BORDER CURRENCY

Dhubri, June 10: Scarcity of Indian currency of Rs 5 denomination has led to a steady flow of Ngultrum, Bhutan’s currency, into lower Assam districts, including Dhubri.

There has been widespread circulation of Bhutan’s currency along the 450-km Indo-Bhutan border for long but there was no report of circulation of Bhutan’s notes in Dhubri district till last year.

Jewel Marak, a young man from Garo hills of Meghalaya was taken aback when he was given change in Ngultrums by shopkeepers in Panchughat of Dhubri.

He refused to accept the change in Ngultrums of 5 denomination because it was not Indian currency. He also argued that there was no use of that currency in Meghalaya.

“I bought a pack of cigarettes from this shop and gave him Rs 10. But he gave me the change in Bhutanese currency. How could I accept this money?” Marak asked.

Panchananad Shah, a vendor selling betel nuts and cigarettes said: “Babu, I do not want to give you this Bhutia note but there is a scarcity of Rs 5 notes and coins in the market.”

Left with no other option the people seemed to have accepted the switch.

Raja Paul, a businessman of Dhubri town, said Bhutia notes were circulating in Dhubri market as everybody was seen accepting the Ngultrums of all denominations.

“Ngultrums have been in circulation in Kokrajhar, Barpeta, Bongaigaon, Nalbari, Baksa and Chirang districts of Assam and Cooch Behar and Jalpaiguri districts of north Bengal. But Dhubri emerged as the new market for Ngultrums because of scarcity of Indian notes and coins of small denominations.”

Senior manager of Dhubri SBI (main branch), Sagar Deb, said circulation of Bhutan’s currency along the Indo-Bhu-tan border area was illegal.

“An Indian bank neither accepts Bhutan currency nor encourages the customers to do so. Bhutan currency is accepted within the specific trading points and markets close to the Bhutan border. But Dhubri district by no means is close to any of Bhutan’s market. So its circulation is totally illegal,” Deb said.

Dhubri deputy commissioner Sunil Dutta said he was not aware of circulation of Bhutan’s notes in Dhubri market and none has complained against this till now.

“It is illegal and I am going to take action against it. How is that possible?

On the volume of amount of Bhutanese currency in circulation, a source said it was between Rs 50 crore to Rs 100 crore.

There are two currency chests in Dhubri, one in Dhubri SBI and other in Dhubri UCO Bank but customers complain that there has always been shortages of coins and notes of Rs 5 in the chests.

A source in UCO Bank said they had received coins and notes of Rs 5 from RBI recently and they were being circulated through the 14 branches of the UCO Bank in Dhubri, Bongaigaon and Goalpara.

According to sources, a strong racket has been active since long in Barovisa, a transit point towards Kalikhola of Bhutan located in north Bengal and and share the inter-state boundary.

“In north Bengal, there is wide circulation of Bhutan currency Coochbehar and Jalpaiguri districts while one could see its presence in Kokrajhar, Bongaigaon, Baksa, Chirang, Barpeta, Nalbari, Udalguri and now in Dhubri districts,” a source in Bongaigaon said.