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Rs 39.8 lakh in cash seized from 2 cities in Gujarat, of which Rs 24 lakh was in Rs 2,000 currency notes

From two different cities in the state, Rs 39.8 lakh in cash was seized of which Rs 24 lakh was in Rs 2,000 new currency notes

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A cashier displays the new 2000 Indian rupee banknotes inside a bank in Jammu, India November 15, 2016. REUTERS/Mukesh Gupta. (Representational image)

Ahmedabad, December 10, 2016: From two different cities in Gujarat, Rs 39.8 lakh in cash was seized of which Rs 24 lakh was in Rs 2,000 new currency notes.

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Acting on a tip-off, sleuths of Special Operations Group (SOG) in Ahmedabad seized Rs 21,77,650 in cash and detained four persons who were allegedly carrying those to exchange old notes for a commission, SOG police inspector V H Jadeja said.

According to PTI, Jadeja said,”The seized cash includes new currency notes of Rs 2,000 and Rs 500 worth over Rs 10 lakh, while remaining notes are of Rs 100, Rs 50, Rs 20 and Rs 10 denominations. Those detained will be handed over to the Income Tax department for further investigation.”

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In south Gujarat, in a related incident, in Bharuch town police seized Rs 18 lakh in cash, and some of them were in new currency notes, from a residential apartment and detained three persons.

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According to PTI, “Bharuch A division police searched the house of one R L Modi and seized the money from him. The cash included Rs 14 lakh in Rs 2,000 notes, four notes of Rs 500 denomination, as well as notes of Rs 100 and Rs 50 denominations.”

Police said, “Two other persons detained along with him have been identified as Bina Modi and Ankit Modi”

by NewsGram team with PTI inputs

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Nepal’s Central Bank Announces Ban of Indian Notes Above Rs 100

Currently, only the notes with a denomination of Rs 100 and below are freely exchangeable in Nepal

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Indian Currency. Pixabay

Nepal’s central bank has announced the ban of Indian currency notes with denominations above Rs 100.

The Nepal Rastra Bank (NRB) on Sunday issued a circular for the institutions licensed by it notifying them about the ban, reports Xinhua news agency.

Authorised to Issue Currency Notes.
Rs. 2000 note was issued by RBI who maynot ahve been Authorised to Issue Currency Notes. Wikimedia.

Nepal’s cabinet in December had decided to ban the use of these currency notes.

The decision to ban these notes has come a time when the NRB has requested the Reserve Bank of India (RBI) arequesting the latter to allow Nepal to use currency notes with all denominations.

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Currently, only the notes with a denomination of Rs 100 and below are freely exchangeable in Nepal. (IANS)