BS news item [22.5.23 ] says [1] politicians, real estate players, underworld leaders and some traders dealing in cash–hold most of the notes [2] players in the grey market for dollars seem to have got wind of the withdrawal and as a result from Wednesday itself the hawala rate which was 85.5 rupees to the dollar had started rising to 87 and the next day to 88. It is now hovering around 91. [3] further the news item — states the law [a] Under PMLA KYC required for cash transactions for above Rs.50,000/_ [b] cash transactions above 2 lacs PAN card is mandatory.

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