RBI to announce facility for NRIs to exchange old notes
The Reserve Bank of India (RBI) on Saturday said that it will introduce a facility for exchange of old specified…
The Central Bureau of Investigation (CBI) on Saturday arrested two more Reserve Bank of India employees for alleged cash conversion of Rs.1.99 crore of demonetised notes in Bengaluru.
The two arrested – Sadananda Naika and A K Kavinare – were arrested in connection with unauthorised exchange of Rs.1.99 crore of demonetised currency with bank notes of Rs.2,000 and Rs.100, CBI sources said.
The two have have been booked under charges of criminal conspiracy and cheating besides provisions of Prevention of Corruption Act and have been sent to four-day CBI custody by a special court in the city.
“It is alleged that both the accused and other unknown officials of RBI, Bengaluru entered in criminal conspiracy with unknown others,” CBI spokesperson Devpreet Singh said.
The accused, along with other unknown officials, who were entrusted with the responsibility of new currency notes, “fraudulently” gave away new notes to the tune of Rs 1.99 crore to RBI officials and others. Singh said.
The currency exchange violated the exchange limits imposed by the Bankers' Bank, the source alleged.
Earlier, in a separate case, the CBI arrested an RBI employee. Currency worth over Rs.6 lakh was exchanged by him using his influence over officials of the State Bank of Mysore.
(With inputs from agencies)
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