Shocking: Two RBI officials converted Rs 2 crore black money, arrested by CBI

Prashant Dev, New Delhi: More dirt has come out from the banking sector. The CBI on saturday arrested two more RBI officials for their involvement in the black money conversion racket. The two officials are posted in Bengaluru and were involved in the exchange of Rs 1.99 crore of banned notes into new currency.

The two arrested RBI employees are Senior Special Assistant Sadananda Naika and Special Assistant A K Kavin of cash department, RBI, Bangalore. They have been charged for illegally converting banned notes into legal tender.

It is alleged that the two arrested employees, and other unknown officials of RBI, Bangalore, entered into a criminal conspiracy with unknown persons for converting black money.

CBI sources said the two accused with other officials who had been entrusted with the responsibility of remitting new currency notes in exchange of old notes, fraudulently gave away new currency notes to unknown RBI officials and others in replacement of banned notes. The excahnge was of about Rs 1.99 crores was in violation of the currency exchange limits imposed by the RBI. (News24Bureau)