Currency ban in the country gave rise to several interesting questions. Many economists recalled case studies for the reasons behind the historical decision of banning more than 86% of currency in a single go. This move has inspired many entrepreneurs, and they came up with many innovative ideas in these times of economic transformation.
Earlier it is reported that a startup in Noida is providing a stand in queue service. The service offers a helper as a substitute to stand in line on behalf of customers. They do charge on the hourly basis for this service.
Taking the spirit to the next level, another entrepreneur from Noida has started new ‘cash on delivery’ concept which literally means it. The concept alone actually delivers the cash to customers.
www-TailMill-dot-com is providing a unique service to its visitors. Customers can get cash in return for online payments on the purchase of particular branded flour.
Customers can pay an additional amount to the product for which they need money in return. Hence you can pay the extra amount for the product of which you want in cash. You would receive your product, along with the cash within 24 hours. This service is only limited to Noida residents as of now, and a maximum of Rs 1000 only served per customer.
“It is a simple formula, whatever cash we have collected in the last 15-20 days after demonetization, we are offering it to our customers. They just have to buy any TWF product online, and from there they can click on the delivery of cash. Currently, we have a cap of Rs. 1,000 per day per customer,” says, Arjun Rungta, co-founder of this startup.
Clients of this portal will get cash in Rs 100 and Rs 500 denominations when he or she pays the same amount online. In a way, the entrepreneurs are refreshing the money which is spent online, and delivering them offline. However, they haven’t revealed the way how they are getting such a huge amounts of cash. The co-founder has clarified in the statement that they are not breaking any rules and this scheme is legal.