Two more RBI officials held in Bengaluru for illegal note exchange

The two accused and other unknown officials of RBI, Bengaluru, entered into a criminal conspiracy with unknown private persons to facilitate illegal exchange of the trashed notes.

Two more RBI officials held in Bengaluru for illegal note exchange

The Central Bureau of Investigation (CBI) has arrested two more officials of the Reserve Bank of India (RBI) for alleged involvement in illegal exchange of Rs.1.99 crore in demonetised currency in Bengaluru.
Role of other unknown RBI officials, too, is suspected in the case.
“Senior Special Assistant Sadananda Naika and Special Assistant AK 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 said, according to a report in The Hindu.

The two accused and other unknown officials of RBI, Bengaluru, entered into a criminal conspiracy with unknown private persons to facilitate illegal exchange of the trashed notes.
The accused, who were entrusted with the responsibility of remitting legal tenders in exchange of old ones, fraudulently gave away the new currency to unknown RBI officials and others in exchange.
The CBI had earlier arrested another RBI employee from same office, K Michael, for alleged illegal exchange of Rs.6 lakh in old notes.