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Illegal note exchange: 2 RBI officials arrested

Illegal note exchange: 2 RBI officials arrested

| | 17 Dec 2016, 07:50 pm
Bangalore, Dec 17 (IBNS): The Central Bureau of Investigation on Saturday arrested two Reserve Bank of India officials for allegedly being involved in the illegal exchange of Rs.1.99 crore in demonetised currency here, media reports said.

According to media reports, the two persons have been identified as Senior Special Assistant Sadananda Naika and Special Assistant A K Kavin of cash department.

“Senior Special Assistant Sadananda Naika and Special Assistant A.K Kavin of Cash Department with RBI’s Bengaluru office have been arrested in a case of alleged illegal exchange of cash in violation of the rules,”  a CBI official was quoted as saying by The Hindu.

The Centre on Nov 8 announced banning of old Rs. 500 and Rs. 1000 currency notes.


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