Gold coins as bribes

Trust Indians to come out with new ideas to circumvent the government’s diktat on demonetisation of Rs 500 and Rs 1,000 currency notes. In many places bribes are now being exchanged in the form of gold coins — which is likely to continue “till the situation improves” — say traders. This has led to gold coin prices shooting up, they say. Some are even ready to take old notes at a discount of 20 to 30% as bribe. If the government was trying to end the bribe culture, this move is certainly not helping.