Mutual trust is the mantra on which the Angadias —the unofficial courier-cum-banking service providers — operate. Though they are conduit to the transfer of crores of rupees — belonging to traders and moneyed people — mainly from Mumbai from various parts of neihbouring Gujarat, not much is known about their unofficial mode of transaction of money and other valuables.
As an Income Tax official revealed, the investigations in the past have showed that these native ‘mutual trust-based’ personalised courier services, like Angadia, would do anything to protect their clients and hide the cargo contents.
“They use code words like ‘Jokhim’ and ‘Zhewar’ to convey the content of the parcel containing valuables to their counterparts,” the official said..
Hailing as they are originally from Kathiawad region in Gujarat, Angadias have been in business since the Independence days. They have in fact been the mainstay of unofficial courier-cum-banking service for people based in Mumbai and Gujarat.
The Angadias — on whom the traders and businessmen based in Mumbai and Gujarat heavily — transfer money, diamonds and jewellery — in maximum 24 hours time and charge a small fee — generally `100 for transfer of `1 lakh or value.
There are nearly 200 Angadias in Mumbai, while there are collectively equal number of them in major trading towns of Gujarat like Ahmedabad, Baroda, Rajkot and Surat.
In Mumbai, Angadias run business from the Bhuleshwar, Opera House, Zaveri Bazaar localities in south Mumbai and northern suburbs like Malad, Borivli and Ghatkopar.
Now that the Bharat Diamond Bourse has been set up at the Bandra-Kurla Complex, there are also some Angadias there. They ferry the cash and other valuables bound for Gujarat to Mumbai Central Railway station, in vehicles with escorts – mostly privately hired security
personnel.
“Sometimes, we also hire buses to transport cash and other valuables to Gujarat. But, there is an element of risk in this. We also carry cash in vans,” an Angandia operator revealed.
Gold and diamonds are transferred physically, while a conveyed word is normally sufficient for transfer of cash. Generally, the sender and recipient decide on a code. The sender takes a code from the recipient — which is generally the serial number of a `10 or `100 note.
Then the sender informs the Angadia, who in turn conveys the same to his person at the recipient’s end. Subsequently, it is delivered and the Rs 10 note bearing that currency number is taken — as a proof of delivery.
Sometimes, in place of the number of currency note numbers, telephone numbers are also used — and the money is delivered — when the recipient gives a missed call or a call on the courier’s cell — to check the phone number.
However, the physical delivery of cash or diamond takes place on a daily basis. Generally they go by Gujarat Mail and return the next day by Gujarat Mail. The Gujarat Mail departs from Mumbai Central at 10 pm and reaches Ahmedabad at 6.25 am the following day, while in the return direction the train leaves Ahmedabad at 10 pm and reaches the Mumbai Central Railway at 6.45 am the following day.
“Thirty to 50 per cent of seats in two coaches of this train are booked by the Angadias. For security reasons, they travel in groups. They generally sit and gossip all through the night or sleep in turns. Often, they also sell off the tickets to needy ones who are waitlisted – and prefer to sit,” an Angadia operator revealed.
“Delivery starts right at the station itself. As soon as the train stops in stations like Surat or Baroda – en route - designated persons come and collect the parcels. The office staff of Angadias book tickets on a daily basis in Gujarat Mail.
The mutual trust on which the Angadia business operates can be gauged from the fact that if, for an instance, a trader transacts a cash Rs five lakh daily, he may keep anything between Rs 10 to 30 lakh as credit with the angadias. The amount helps them to square off the accounts on a weekly or a fortnightly basis.