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Hyderabad: Rs 2.84 crore in old currency seized, 30 people arrested

Last ditch attempt fails?

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As the last last day for exchanging demonetized currency draws closer, Hyderabad police have arrested 30 people and seized Rs 2.84 crore in old Rs 500 and Rs 1000 notes in the last five days.

According to a report by The Hindu, three cases have been registered with the Banjara Hills, Begumpet and SR Nagar police stations. Police has arrested 15, 17 and three people in these cases respectively.

It was also reported that these accused informed the police that people who had links with Reserve Bank of India (RBI) had promised that they would help them exchange the currency. However, police has unable to establish the links. But, the exchange facility is currently available only at Chennai, Mumbai, Delhi, Nagpur and Kolkata RBI offices, but not at Hyderabad branch.

Central Bureau of Investigation (CBI) in Hyderabad is yet to probe RBI links.

According to the Cessation of Liabilities Ordinance, 2016 passed by the Centre old currency could be deposited in banks till December 31. However, the last day to get old currency deposited through RBI branches in March 31.

 

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