The Angadias work and survive thanks to the trust they earn from their customers. They maintain a very high trust factor and are willing to do anything to protect their customers. They can also do anything to hide the content of their email service. However, Amrutbhai Patel, president of the Angadia Association, who accompanied his colleagues to the income tax office to claim the money replenished in these 102 bags, told Business Standard: “We are extending the necessary cooperation to the income tax department. This is not illegal since the receipt of each transaction is issued to the party. A similar seizure took place about five years ago, but nothing illegal was found. In this case too, Angadias who have complied with tax requests will receive their money. The process is ongoing. Patel said receipts are issued for each transaction. These people provide this courier service for the transfer of money and other valuables, to Gujarat, by ferry to Mumbai Central Station. The Angadias use vehicles for this part of their journey and these vehicles have companions. These escorts are usually security personnel who are hired privately by the Angadias.

Traders and wealthy businessmen based in Mumbai or the state of Gujarat rely on these angadias and trust them, no doubt. They use Angadias to transfer their money. These wealthy merchants and businessmen also use the services of Angadias to transport expensive items such as jewelry and diamonds. The state of Gujarat, especially the city of Surat, is the main market for diamonds; these are regularly transferred from this city to Mumbai via the Angadias for other commercial transactions. They simply work on the basis of mutual trust. Angadias are unofficial banking services that organize the transfer of money for businessmen from one city in India to another city in the same country. There are about 50 Angadias offices in South Mumbai alone. The owners and employees, who did not want to be named, claimed that their business was legal enough and that they paid all taxes, including income tax, service tax and granting. Some claimed that the seizure of four trucks was a “publicity stunt”. The Angadias are the people who act as a shadow banking system in this country.

This shadow banking system is created exclusively and works for the provision of money transfer services to businessmen in India. They are experts in transferring money from one city to another in the country. They charge a commission for their courier service. The commission can vary from 0.2% to 0.5% for each transaction they make. This commission is charged for each money transfer from one city to another. The Angadias are the mainstay of the unofficial messaging and banking service. They serve businessmen and merchants, most of whom are based either in the city of Mumbai or in the state of Gujarat. On the other hand, an owner of Angadia Services, which has been operating for more than three decades, said the rough diamonds are transported to Surat, which are returned to Mumbai after polishing and finishing. “The Angadias are the backbone of the diamond industry.

The action of the NIA and income tax on Monday is a temporary setback for our company, but we will overcome it effectively,” he said. Usually, they provide their money transfer, mainly between two places. It is from the state of Gujarat to the city of Mumbai, and vice versa. The Angadias are mostly found between these two places. The fact that the Angadias carry large amounts of money makes them vulnerable to theft. In Mulund, when thieves looted a shop earlier this month, they fled with Rs 77 lakh in cash. Unlike jewelry theft, which then has to be sold and could leave a mark, the disposition of cash is much easier. Apart from that, since individual Angadias carry money, thieves keep an eye on their routes and loot them. On several occasions, it turned out that former employees who knew the work of the Angadias were the perpetrators of the crime. The Angadias have also begun to bring in security guards and usually travel in large groups so as not to be targeted.

In addition, as in the recent case of Mumbai, the police are known to blackmail and threaten the Angadias to get money from them, as there is a shadow of doubt about the legality of the money they transfer. Although the Angadia system is legal in itself, a cloud hangs over the activity, as it is believed to be often used to transfer unreserved money. Since the company is settled in cash and no account is held for it, it is suspected that it is also used for the transfer of black money, such as the hawala transaction, which is generally used in all countries. According to another Angadia service owner, the entire company is run on mutual trust. “The Angadias use the bus, van and train to transport money, jewelry and other materials. Sometimes this is also done under police protection, if you take into account the associated risk. Some Angadias also argued that the political aspect of joint action could not be excluded. “In the Angadia case, there are supporters of Gujarat Prime Minister Narendra Modi.

The money and valuables had to be transported to Gujarat and were therefore confiscated,” said the owner of an Angadia service. | Newsletter Click here to get the best explanations of the day in your inbox An FIR was recorded last week against three Mumbai police officers for allegedly threatening Angadias and extorting money from them in South Mumbai. Earlier this month, an Angadias store in Mulund was looted by a gang of thieves. Who are these Angadias and why are they often targeted? Mohamed ThaverMohamed has been reporting on the crime strike for over a decade and has done so. Read more These people are a channel to transfer huge sums of money, at once. This amount that is transferred can be in crores of rupees. This money belongs to traders and the ultra-rich. These people always work as a team. Once the code is set, the sender calls one person and the other Angadia is informed of the transmission and code and the Angadia informs the same to its counterpart on the recipient`s side.

In the end, the money is delivered and the code, a ten rupee note, with the special currency number is taken from the recipient as proof of delivery. This Angadia clan comes from a certain place in Gujarat. This place is known as the Kathiawad region in the state of Gujarat. These people exchange money transfers from the days before India`s independence from the British regime. Since then, they have been in the field of money transfer. Angadias operates its courier business from various parts of the city of Mumbai. These areas are Bhuleshwar, Opera House or Zaveri Bazar village in the southern part of Mumbai. They also have their base in north Mumbai. They operate from places like Malad, Borivili and Ghatkopar in northern Mumbai.

This system is mainly used in the jewelry sector, for which Mumbai – Surat is the most popular route, as these are the two ends of the diamond trade. Usually, it is the Marwari, Gujarati and Malbari communities that are involved in the business. The Angadias carry a lot of money, which makes them vulnerable to theft. Angadias are couriers who work on the basis of code words decided by the sender and recipient of money and other valuables. The sender takes a code from the recipient. This code is usually a ten-rupee note or a one-hundred-rupee note that has a specific currency number. When Business Standard visited some of the offices, some Angadias were seen taking phone calls to transport money and other materials, while others were busy checking incoming packages. The Angadia system is a centuries-old shadow banking system in India. In this case, traders send money from one state to another through a person named Angadia.

Angadia means mail. This system is huge money. It is the responsibility of an angadia to transfer money from one state to another. For this purpose, Angadia charges a small fee. These people have a certain code system. You use this code system when doing business. The code system consists of particular words such as “Jokhim” and “Zhewar”. These codes are used to describe the type of content that is in the packages. “The commission charged by the Angadias varies from transaction to transaction. Some charge Rs 50 to deliver Rs 1 lakh, while others take Rs 100 for Rs 1 lakh,” Patel said.

He wanted to know how a hawala transaction happened when the Indian rupee was transported. If it were currency transported without declaration, it would become a hawala operation, he added.