Black marketing of Rs. 2000 notes on a large scale – RBI takes action against 37 officials

Hyderabad: In A.P. and Telangana States, black marketing of Rs. 2000 notes is on the increase After receiving intelligence report, RBI started probe against 24 bank officials of Hyderabad and 13 officials from Vijaywada, Kurnool and Guntur. It is alleged that bank officials accepted 25-40 percent commission and issued large amounts of currency.

It is also reported that a private bank at Begumpet issued cash. It is also said that political leaders are exchanging old currency notes from private banks. Police arrested two employees of Syndicate bank where Rs. 50 lakh were issued. A bank manager of Jubilee Hills issued Rs. 2.5 crore new currency notes to his friend who is a real estate businessman. A senior manager of a bank at Nellore issued Rs. 2 crore in the form of Rs. 100 notes. In this manner, large scale black marketing of new currency notes is going on.

–Siasat News