"Necessity is the mother if all inventions" goes an old saying. A city-based grocery startup here at Noida has rather taken this proverbial saying more serious by finding a unique solution to add up their business in the worst hit times of demonetisation by delivering currency notes to their customers.
Visitors to www.tailmil.com are being provided with valid currency notes up to Rs 1,000 on purchase of their products online. The startup is tying with TWF Flours, which sells premium quality flours, dal, grains, rice, and other kitchen items online.
Customers visiting the website can order a unit of the branded flour. Along with the product, the customers can pay an extra amount, for which they need cash in return. If the product cost is Rs 500, and the customers want a cash of Rs 1000, then they have to pay Rs 1500 online. The startup offers the amount in currency along with the product to their doorsteps within 24 hours.
" It is a simple formula, whatever cash we have collected in the last 15-20 days after demonetisation, we are offering it to our customers. They just have to buy any TWF product online and from there they can click on delivery of cash. Currently, we have a cap of Rs 1,000 day per customer" said Arjun Rungta, co-founder of the startup.
A minimum order is Rs 140 for a returning customer and Rs 160 for a first-time customer to avail the cash delivery.
Customers can get the products delivered to their office or relative's address in Noida along with the note delivery. The service has become active on Wednesday onwards.
Rungta further added that the Rs 1000 option is only for selected regular customers who have referred the website to six or more people. However, any new consumer get cash worth Rs 500 on a minimum order, he added.
However, the very idea of the startup is welcomed with an overwhelming response from the customers has, however, already raised eyebrows of many. How are they getting such a huge amount of cash?The authorities of the startup have already revealed that they are only returning the cash that they have received from customers. However, this take of them have come under scrutiny since how customers are willing to pay cash now in cash crunch situation.
Rungta has clarified that in the last 15 days, they have collected new currency through various cash-on-delivery options. "It is completely legitimate since we have collected enough cash to go with the formula. The consumers have to pay Rs 1,000 plus the procured cost and we will give them current without any charges", he said.
He also has made it clear that the scheme comes under legal transaction, and are not breaking any rules.