Demonetisation: CBI arrests RBI officials in foreign money conversion case

Demonetisation: CBI arrests RBI officials in foreign money conversion case 1

New Delhi: CBI has arrested two personnel of the cash department of Reserve Financial institution of India in Bengaluru in connection with the alleged conversion of Rs 1.99 crore of demonetized foreign money with distinctive Financial institution notes Rs 2,000 and Rs 100.

CBI sources stated Senior Special Assistant Sadananda Naika and Unique Assistant A-Okay Kavin have been arrested for unauthorized change of the forex and have been booked under charges of criminal conspiracy and cheating except for provisions of the Prevention of Corruption Act.

They stated that each of the accused had been despatched to 4 days of CBI custody via a Unique courtroom in Bengaluru.

“It is alleged that Both the accused and different unknown officials of RBI, Bengaluru entered in crook conspiracy with unknown others,” CBI spokesperson Devpreet Singh stated.

In furtherance with the criminal conspiracy, she said the accused, at the side of different unknown officials, who have been entrusted with the obligation of new foreign money notes, “fraudulently” gave away new notes to the song of Rs 1. ninety-nine crores to RBI officials and others.

It is alleged that the change was finished in violation of change limits imposed by using the Bankers’ Bank.

CBI had arrested any other employee of RBI in a separate case wherein forex worth over Rs six lakh became transformed with the aid of him using his effect over officers of Country Bank of Mysore.

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