CBI arrests two RBI officials in currency conversion case in Bengaluru for exchanging old currency notes

NEW DELHI: The CBI on Saturday arrested two employees of Reserve Bank of India in Bengaluru in connection with alleged conversion of Rs 1.99 crore of demonetised currency with specified bank notes of Rs 2,000 and Rs 100.

Senior Special Assistant Sadananda Naika and Special Assistant A K Kavin of cash department have been taken into custody in connection with the case and have been booked under charges of criminal conspiracy and cheating besides provisions of Prevention of Corruption Act.

Both the accused have been sent to four days of CBI custody by a special court in Bengaluru, said CBI sources.

“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.

She said in furtherance with the criminal conspiracy, 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.

It is alleged that the exchange was done in violation of exchange limits imposed by the Bankers’ Ban
This is the second arrest of RBI employees in Bengaluru.

 source by…the times of india

 

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